SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

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Entrepreneurs’ applications for a “Startup” certificate have been considered 21.05.21

On May 21, the first meeting of the Expert Council created to issue the “Startup” certificates took place. At the meeting, applications for a “Startup” certificate, submitted by business entities to the Small and Medium Business Development Agency (SMBDA), were reviewed.

At the meeting attended by representatives of state bodies and independent experts included in the Expert Council, it was noted that from among the applications for a “Startup” certificate received by the Agency from the start of their acceptance, 5 those were registered and submitted to the Expert Council for evaluation.

As part of the meeting, the Expert Council considered and assessed the applications received. Entrepreneurs, on whose applications a positive decision has been made, will be issued “Startup” certificates.

It should be noted that according to the Tax Code of the Republic of Azerbaijan, the “Startup” certificate exempts SMBs from income tax and tax on income from innovation activity for 3 years from the date of receiving the certificate. To obtain a Startup certificate, business entities may apply to the SMBDA directly or electronically. The application received by the Agency is considered within 30 days and submitted to the Expert Council for evaluation. The Expert Council is composed of representatives of the ministries of Economy, Transport, and Communications and High Technologies, the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan, the Intellectual Property Agency, and the National Academy of Sciences, and as independent experts, the Public Association “Forum for the Internet Development in Azerbaijan”, Public Association “Azerbaijan Innovation Export Consortium”, and the commission for “Innovations and Digital Technologies” under the National Confederation of Entrepreneurs (Employers) of the Republic of Azerbaijan are represented. Based on the Expert Council’s conclusion, the Agency decides on issuance or refusal to issue a “Startup” certificate. The Expert Council’s meetings will be held at least once a month based on the applications for a “Startup” certificate, received by the Agency.