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Azerbaijan introduces fines for failure to submit documents on foreign transfers

14 July 2026 11:26 (UTC +04:00)

Fines will be introduced for failing to submit the required supporting documents related to transfers abroad, APA reports.

The provision is reflected in amendments to the Code of Administrative Offenses, which were discussed at today's session of the Milli Majlis.

Under the amendments, in accordance with the Law on Currency Regulation, failure to submit the required supporting documents related to transfers abroad—including documents confirming the acquisition of a participation interest or shares, as well as other documents required by law—to authorized banks or, where required by law, to the Central Bank of Azerbaijan within the prescribed timeframe, or failure to repatriate foreign currency funds to accounts held with authorized banks within the established deadlines, will result in administrative fines.

Individuals will be fined 5% to 10% of the amount of foreign currency directly related to the administrative offense, officials 10% to 20%, and legal entities 20% to 30% of the amount of foreign currency constituting the object of the offense.

The bill was put to a vote and adopted in the third reading.

Firuza Vahid

Azerbaijan Milli Majlis Code of Administrative Offenses foreign transfers currency regulation Central Bank of Azerbaijan fines legislation financial regulation third reading