Azerbaijan has made significant progress in real estate registration and expects to improve the country’s ranking in the upcoming World Bank “Business Ready” report, Report informs, citing the State Property Service under the Economy Ministry of Azerbaijan.
According to the Doing Business 2020 report, the number of procedures for real estate registration in Azerbaijan has been reduced to one, and the required time to one day. A number of innovative developments and technologies have also been implemented to further simplify and accelerate this process.
Among the main innovations in the real estate registration system are:
– An integrated one-window registration system based on the information systems of the public legal entity State Cadastre and Real Estate Registry and the Central Bank. Electronic payment of various real estate purchase and sale transactions through the notary’s deposit account via the Electronic State Information System and AniPay has been enabled.
– Procedural rules have been established for registering security records for real estate objects that have received construction permits.
– As a result of work on tax obligations automation, electronic transfer of land use data to tax authorities has been implemented.
As part of expanding digital registration, proposals have been prepared for notaries to electronically receive several important details during electronic property rights registration.
Additionally, the “Əmlakım” mobile application has been developed and launched to increase service accessibility for citizens and improve real estate literacy.
It is emphasized that in recent years, relevant work has been carried out to prepare legislative acts related to ownership and lease, secure land tenure (state or private guarantee), complete digitization of data on land transactions, encumbrances, cadastre in accordance with relevant requirements, and ensuring access to state registry data.
