In order to send a SWIFT payment to AZERBAIJAN it is highly recommended to meet the following recommendations:
- Payments to non-resident beneficiaries are classified in 2 categories: taxpayer and non-taxpayer
- a) Taxpayer non-resident (having Azerbaijani tax ID) can receive funds from a legal entity abroad showing clear purpose of transfer
- b) Non-taxpayer non-resident can only receive `financial aid` from abroad with supporting documents.
- c) Non-resident legal entity (taxpayers) can receive funds from abroad only with supporting documents (invoice, contract, other real business papers)
- Include beneficiary bank’s correspondent AZN account number, beneficiary bank’s tax identification number (TIN/VOEN), 6 digit BIK code, SWIFT BIC with branch identifier (where required), full name
- Include account number (IBAN), 10 digit tax identification number (TIN/VOEN) , full name (no initials) and full address of the beneficiary customer . Use of initials may delay receipt of funds by the beneficiary. Tin/VOEN is not required for individual.
- In depth purpose of payment must be provided. If the payment is for charitable purposes, this must be clearly stated, or the beneficiary maybe subject to a tax charge for income received.
For the following financial institutions in AZERBAIJAN you can find a list of their correspondent banks with the currencies and nostro accounts. Also you will find an instructions how to track the payments and other useful information which will help you to send/receive a SWIFT funds transfer or investigate a status of existing payment.