Foreign Ownership Restrictions
RestrictiveAzerbaijan permits foreign ownership of buildings and apartments but prohibits foreign ownership of land. Understanding the building-versus-land distinction is essential before investing.
- Foreigners CAN own apartments and buildings (residential, commercial, industrial) freehold in their own name
- Foreigners CANNOT own land plots -- Article 49 of the Land Code is a substantive legal bar on foreign, stateless, and foreign-entity land ownership
- The land beneath a purchased building is held via lease from the state or municipality; investment-category land leases can run up to 99 years (Article 54)
- Property inherited or received as a gift by a foreigner must be sold or legally transferred within one year
- Ownership transfers only upon registration with the State Registry of Real Estate -- informal agreements do not transfer title
- A building must hold a valid commissioning act before ownership can be registered
- Co-owners retain a pre-emptive purchase right for three months under the Civil Code
