Deputy Economy Minister Azer Bayramov says technology park residents with state stakes below 51% will get 20-year tax breaks starting in 2027, while the tax exemption period for “startup” certificate holders will be extended from 3 to 7 years.
The plans were announced at a committee hearing in Azerbaijan’s Milli Majlis, where representatives of committees on youth and sport, public associations and religious organizations, and culture jointly discussed the draft law “On the 2027 state budget.” The new tax incentives for technology parks were unveiled as part of this discussion.
According to Deputy Economy Minister Azer Bayramov, the total number of entrepreneurs who have obtained a “startup” certificate has already surpassed 340. Starting in 2027, the tax breaks available to this category of entrepreneurs will be significantly extended.
How the technology park incentives will work
Residents of technology parks where the state holds less than a 51% stake will gain access to a 20-year package of tax incentives starting in 2027. The package includes full exemption from profit, property and land taxes, reduced social insurance contributions, and a zero percent income tax rate on wages.
Bayramov said that extending these benefits to larger businesses would depend on meeting certain export requirements.
He also noted that a legal framework for venture funds and crowdfunding has already been prepared. According to Bayramov, this initiative will give entrepreneurs the chance to finance their projects not only through bank loans but also with funds from investors.
