Approved by the Order of the State Customs Committee of the Azerbaijan Republic of July 3, 1998 No. 029

Rules of movement of currency values by physical persons - nonresidents through customs border of the Azerbaijan Republic

1. General provisions

1.1 These rules are developed according to the Law of the Azerbaijan Republic "About currency control" and the Customs code of the Azerbaijan Republic.

1.2 The mechanism of movement of currency values by physical litsaminerezidenta through customs border of the Azerbaijan Republic is determined by these rules.

1.3 Currency exchange control of movement of currency values by physical persons - nonresidents through customs border of the Azerbaijan Republic is performed by the agents of currency exchange control (customs authorities) reporting to the State Customs Committee of the Azerbaijan Republic.

1.4 The basic concepts used in these rules:

"Physical persons - nonresidents" (further - nonresidents): the physical persons having the permanent residence outside the Azerbaijan Republic, at the same time temporarily living in the Azerbaijan Republic. "Currency values":

a) foreign currency - the bank notes in the form of banknotes, treasury notes and coins which are in circulation and considered as legal tender currency in the territory of foreign state or group of the states, and also withdrawn and withdrawn from circulation, but having opportunity to exchange on the bank notes which are in circulation in this territory.

b) securities in foreign currency - the payment documents expressed in foreign currency (checks, bills of exchange, letters of credit, etc.) and other debt obligations.

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