Banking in Azerbaijan for Expats: What the Official Rules Say (2026)

What the law says about non-resident accounts

Azerbaijan's Law on Currency Regulation states that non-residents may open foreign and national currency accounts with designated banks. It leaves the order of opening to the financial markets supervisory authority and the order of use of these accounts to the Central Bank. The law defines non-residents as individuals permanently residing outside Azerbaijan, including those temporarily living in the country. The English text on the Central Bank website does not itemise later amendments, so confirm the current wording with the Central Bank or the bank itself.

Central Bank of Azerbaijan (cbar.az): Law on Currency Regulation, English text

What the Central Bank account regulation covers

Regulation No 04/2 of 4 February 2022 sets the procedures for opening, maintaining and closing accounts in banks and local branches of foreign banks operating in Azerbaijan. It states that it does not apply to the procedure for national and foreign currency operations of non-residents, nor to foreign currency accounts that residents open outside Azerbaijan. The regulation provides that the bank conducts customer due diligence before account opening. This guide does not restate the full regulation.

Central Bank of Azerbaijan: Regulation on opening, maintaining and closing bank accounts

Information and documents the regulation lists

The first annex lists the initial information a bank obtains from an individual, including citizenship, resident or non-resident status, registration and residential addresses and the goal of probable account operations. For non-residents opening national or foreign currency accounts, the second annex lists, for an individual, "individual's ID card information". A later note says the identity verification documents specified in the customer due diligence regulations are submitted. The passages cited do not name a passport, visa or residence permit, so ask the bank which documents it accepts.

Central Bank of Azerbaijan: Regulation on opening, maintaining and closing bank accounts

Remote opening for non-resident individuals

The account regulation provides for remote opening, which the remote-opening regulation defines as opening an account without the simultaneous physical presence of an employee of the institution and the applicant. For non-resident individuals it provides advanced electronic signatures and video calls; remote opening for non-resident legal entities is not allowed. A remote account can be opened only if the bank obtains all required documents from public information systems. The remote-opening regulation of 16 December 2025 provides that the face image is matched against the photograph held in the relevant public information system. Neither text says which banks offer remote opening to foreign individuals.

Central Bank of Azerbaijan: Regulation on opening, maintaining and closing bank accounts Central Bank of Azerbaijan: Regulation on remote opening of accounts

What each bank sets for itself

Under the Law on Banks every bank is free to set its contractual service terms, including interest rates, commissions and other payments, and must give written information at its premises on the conditions and rules for deposits, settlements and money transfers. The Central Bank's account regulation adds that a bank's internal rules should not restrict access to financial services unreasonably. Because fees and conditions are set bank by bank, this guide gives no general fee level or opening time for Azerbaijan.

Central Bank of Azerbaijan (cbar.az): Law on Banks, English text Central Bank of Azerbaijan: Regulation on opening, maintaining and closing bank accounts

What two banks publish for foreign customers

Xalq Bank's English page says transactions are performed on presentation of personal ID for Azerbaijani citizens and foreign passports for non-residents, lists account opening as free of charge with no initial deposit and no minimum balance, and mentions a self-certification questionnaire on tax residency. AFB Bank's page lists, for foreign citizens, a copy of the passport, other official notes in the passport, the entry visa and a temporary ID card from the migration authorities. The AFB page is undated and still describes sending the application form by fax, so confirm it is current. The two lists differ.

Xalq Bank (Azerbaijan): Current account (English page) AFB Bank (Azerbaijan): Open an account (English page)

What this article does not establish

It does not establish whether any named bank will open an account for a particular foreigner, how long opening takes, whether Wise or other digital banking providers work in Azerbaijan, or what salary levels, transfer times or fees apply. Statements of that kind in the earlier version could not be matched to an official source and were removed. Ask the bank to confirm in writing the account type, the documents it accepts, its tariff and whether remote opening is open to your situation.