The Milli Majlis (National Assembly) has approved, in the first reading, a comprehensive package of amendments to several codes and laws, including the Civil, Criminal, Tax, and Administrative Offenses Codes. The legislation also affects laws regarding state duties, the registration of legal entities, the Central Bank of Azerbaijan, securities markets, and anti-money laundering measures.
According to the Operative Information Center-OMM, the new legislation establishes a formal legal framework for crowdfunding activities in Azerbaijan. The package involves amendments to 12 legislative acts to effectively regulate this emerging financial sector.
Key provisions include a 2,750 AZN state duty for registering crowdfunding platforms with the Central Bank of Azerbaijan. Operators will now fall under Central Bank supervision and are required to submit regular reports. The law introduces strict penalties for non-compliance, including fines for failure to disclose information (3,000–4,000 AZN), reporting failures (2,000–3,000 AZN), and violations in fund management (6,000–7,000 AZN).
This legislative initiative is part of Azerbaijan's broader strategy to modernize its financial sector and foster a more robust startup ecosystem. By integrating crowdfunding into the formal regulatory framework, the government aims to increase transparency, protect investors, and align national practices with international standards against money laundering and terrorism financing.
