Azerbaijan issues startup certificates to more SMEs

Economy Materials 9 February 2023 17:39 (UTC +04:00)

BAKU, Azerbaijan, February 9. Azerbaijani Small and Medium Business Development Agency (SMBDA) under the Ministry of Economy issued start-up certificates to five more SMEs (small and medium-sized enterprises), Trend reports via the agency.

According to the SMBDA, the number of SMEs in Azerbaijan that received startup certificates has reached 86.

The certificates were issued to:

- Allrent LLC (online platform for house rental)

- Incode LLC (online platform for organization of celebrations and weddings),

- AKIAB LLC (online service and communication platform for business),

- Legalaid LLC (mobile application for legal consulting services),

- Automatikaaz LLC (software for large-tonnage scales).

A startup certificate exempts SMEs from paying income tax and tax on income from innovation activities for a period of three years from the date of its receipt.

The micro and small-sized enterprises, the projects of which are under development, should apply to the agency for obtaining the startup certificates.

The application form and other necessary documents can be found at the following link:https://smb.gov.az/az/nav/startap-sehadetnamesi