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Azerbaijan to amend fine for failure to repatriate foreign currency funds, introduce exemption from liability

23 June 2026 11:38 (UTC +04:00)

The fine for failure to repatriate foreign currency funds from abroad is being amended, and a case for exemption from liability will be introduced, APA reports.

This is reflected in the proposed amendment to the Code of Administrative Offenses, which was discussed at a joint meeting of the Milli Majlis Committees on Legal Policy and State Building and on Labor and Social Policy.

Under the current legislation, failure to repatriate a small amount of foreign currency funds obtained as a result of foreign economic activity and subject to mandatory transfer to the accounts of authorized banks of the Republic of Azerbaijan is punishable by a fine amounting to 30% to 50% of the value of the foreign currency that is the direct object of the administrative offense. A “small amount” is understood to mean an amount of up to 20,000 manats.

According to the draft, the words “small amount” are removed from the provision, the sanction is reduced, and a case for exemption from administrative liability is introduced. In other words, failure to repatriate foreign currency funds obtained as a result of foreign economic activity and subject to mandatory transfer to the accounts of authorized banks of the Republic of Azerbaijan will result in a fine for officials ranging from 10% to 20% of the amount of foreign currency funds that are the direct object of the administrative offense, and for legal entities ranging from 20% to 30% of the amount of foreign currency funds that are the direct object of the administrative offense.

During proceedings on the relevant administrative offense, a person against whom proceedings are being conducted shall be exempt from administrative liability if, before a court or another competent authority (official) adopts a decision in the administrative offense case, the foreign currency funds obtained as a result of foreign economic activity and subject to mandatory transfer to the accounts of authorized banks of the Republic of Azerbaijan are repatriated from abroad.

Firuza Vahid

Azerbaijan foreign currency repatriation of funds administrative liability Code of Administrative Offenses Milli Majlis foreign economic activity authorized banks financial regulation currency control fines legal amendments economy legislation