🇦🇿 🇮🇱 Azerbaijan Offers Israeli IT Companies Tax Exemptions for Relocation
Azerbaijan is offering Israeli IT companies relocation with extensive tax incentives. Several companies are already considering relocation under this initiative.
**The proposed benefits include a full exemption from income tax, property tax, land tax, and dividend tax for up to ten years.** In addition, company employees will be able to take advantage of a zero rate of personal income tax on monthly salaries of up to $4,700. To receive these privileges, a company must meet one of the following criteria: have an operating history of more than a year, employ at least 10 employees, or have an annual turnover of at least 200,000 manat (about $117,000). The program also includes support in migration matters, including exemption from work visas and assistance in obtaining a residence permit.
The development of the tech sector in Azerbaijan is aimed at strengthening trade ties with Israel, which is an important supplier of weapons to Azerbaijan. Israel supplies Rafael’s Spike anti-tank missiles, Elbit’s Hermes drones, and Israel Aerospace Industries’ Harop loitering munitions. Last year, an agreement was signed to purchase two OptSat500 satellites from Israel Aerospace Industries.
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🇦🇿 🇮🇱 Azerbaijan Offers Israeli IT Companies Tax Exemptions for Relocation
Azerbaijan is offering Israeli IT companies relocation with extensive tax incentives. Several companies are already considering relocation under this initiative.
**The proposed benefits include a full exemption from income tax, property tax, land tax, and dividend tax for up to ten years.** In addition, company employees will be able to take advantage of a zero rate of personal income tax on monthly salaries of up to $4,700. To receive these privileges, a company must meet one of the following criteria: have an operating history of more than a year, employ at least 10 employees, or have an annual turnover of at least 200,000 manat (about $117,000). The program also includes support in migration matters, including exemption from work visas and assistance in obtaining a residence permit.
The development of the tech sector in Azerbaijan is aimed at strengthening trade ties with Israel, which is an important supplier of weapons to Azerbaijan. Israel supplies Rafael’s Spike anti-tank missiles, Elbit’s Hermes drones, and Israel Aerospace Industries’ Harop loitering munitions. Last year, an agreement was signed to purchase two OptSat500 satellites from Israel Aerospace Industries.
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