Azerbaijan to provide foreigners with temporary residence permit

Foreigners and stateless people will be able to obtain a temporary residence permit in Azerbaijan if they own state securities worth 100,000 manats ($58,823).

The draft amendments to the Migration Code were discussed in the first reading at the parliament session on February 24, according to Report.

According to the amendment, a temporary residence permit will be granted to foreigners if they have state securities with a nominal value of at least 100,000 manats or securities of legal entities whose shares are by 51 per cent or more owned by the state.

The draft amendments were adopted in the first reading following the discussions.