The Cabinet of Ministers of the Republic of Azerbaijan has made changes to the rules for submitting information related to commercial legal entities.
“Elchi” reports that Prime Minister Ali Asadov signed a decision on this matter.
According to the decision, a number of changes have been made to the “Rules for providing information on founders (participants), shares in the authorized capital, and owners of securities of commercial legal entities to obligated persons”.
According to the changes, the concept of “beneficial owner” used in the document has been expressed in a broader form and replaced with the concept of “founders (participants), shares in the authorized capital, and owners of securities of commercial legal entities”.