Real Estate Lawyer in Baku | Buy Property in Azerbaijan

This versatile part of Azerbaijani market has been subject to numerous regulative changes that ask for a professional approach to all transactions containing property transfer. Nowadays, both business and citizens seek for proper documentation of property transactions to exclude further risks of ownership or eliminate any financial loss.  

Purchase of property in Azerbaijan

We are being asked whether foreigners are allowed to buy property in Azerbaijan? The short answer is that, yes, anyone may buy property in Azerbaijan, with the exception of specific prohibition about pruchase of land by foreigners.

Our property lawyers are well experienced to represent the client in all stages of purchase of property, particularly while foreigners buy real estate or land in Azerbaijan. Sometimes, foreign citizens rely on real estate agency experience and recommendation, which is a risky decision considering the inadequate professional specialization of agency employees, lack of law knowledge and conflict of interests.

Our real estate lawyers based in Baku are ready to assist while initial inspection of the real estate, its property documents, ownership status, consultancy while the transfer of ownership and obtaining of title document over the property for the buyer.

Buying land in Azerbaijan

It must be noted that under Azerbaijani law, the purchase of land by foreigners is prohibited. But in practice and real-life business situations, buying land in Azerbaijan becomes an important matter where the client intends to own and control the land, either directly or indirectly. Any involuntary ownership over the land, ownership as a result of inheritance or gift or any other similar situation, by a foreign citizen must be annulled and the land disposed within 1 year. Our property lawyers are well experienced in order to provide alternative solutions for the purchase of land by foreigners tailored for the needs or business interests of the client. 

With the experienced assistance of our lawyers and consultants, buying land in Azerbaijan would be possible. We will ensure the client owns and benefits from such land via best optimized alternative solutions. Our solutions are perfectly legal and meet the desired needs of the client, considers the potential sale of the land in a flexible and cost-efficient way. 

Real Estate lawyer Services in Baku

Due to its attractive real estate market, interest in the property in Azerbaijan, particularly Baku has greatly increased. Many foreigners buy property in Azerbaijan in order to reside, to rent out and generate income or to qualify for residency (immigration) on the base of property purchase.

CLC acts in real estate matters, advising our clients on all legal steps regarding buying, selling, renting and leasing properties. We ensure properties and property rights of business and business owner are protected, i.e. property possesses all certificates and necessary documents, rights over property are registered.

Legal and consultancy support while a purchase of property in Azerbaijan include: 

• Preparation, review, and negotiation of all legal documents of real estate interests;
• Advising to foreigners on the purchase and sale of real estate; 
• Advising on rental and lease contracts, including built to suit transaction;
• Regulation of real estate documentation;
• Registration of real estate rights and obtaining of extracts from the registry of real estate (title document);
• Asset management for corporate M&A's;
• Foreclosure, lien consultation for businesses;
• Bankruptcy and liquidation involving asset management;
• Acquisition and registration of land, real property transactions;
• Real estate taxation;
• Property management agreements.

One of the questions we are often asked is whether foreigners can buy property in Azerbaijan and whether the type of visa matters for such purposes. The short answer to the question of "Can foreigners buy property in Azerbaijan" is that - "Yes, they can". However, the above exception regarding purchase of land shall be considered. The type of visa is irrelevant for such purposes and the foreigner is not required to obtain a certain type visa for entering Azerbaijan, nor are foreigners obliged to obtain residence before or after buying property in Azerbaijan. 

The steps during the purchase of real estate and buying land in Baku (Azerbaijan) are as follows:

1. While negotiating the property deal, the documentation status of the property shall be questioned at the outset, and the property rights of the seller should have been registered properly; 
2. Real estate transaction tax (income tax of the Seller) shall be calculated in advance, and considered while negotiating the price of the property; 
3. Before the signing of the purchase agreement, the real estate (apartment, villa, commercial property et cetera), must be inspected with experts regarding the technical standards and actual conditions; 
4. It must be ensured there are no third party rights, claims over the property, neither any charge, mortgage or any form of lien over the property before proceeding to purchase; 
5. There shall be no registration of person over the property from the Seller's side, any registered person at the property (address) in question, shall be removed before registration, or during a determined period after the registration. Until final fulfillment of this obligation, a certain amount of payment shall be retained; 
6. After notary approved sales transaction, ownership rights over the Property shall be registered via notary in online method.

Please contact us for any question or consultancy via here.