State Compensations of Monthly Salary for Organizations Attracting Highly Skilled Specialists

In 2022, the Government of the Republic of Armenia accepted the measure developed jointly by the Investment Council of Armenia and the Ministry of Economy of the Republic of Armenia, which aims to promote the involvement of highly qualified professionals.

Employers who will attract highly qualified specialists can apply for state subsidy from 20% to 70% of the salary paid to the highly qualified professionals.

On the launched platform, you can use an online tool to check whether a given specialist meets the established criteria, find a detailed explanation of who can apply for state support, what is the amount of compensation, what documents are needed, how to apply for the program, and where to send the completed application.

The following support scale applies:

	Criteria	Compensated Amount
1.	A bachelor's or master's degree from one of the top 400 universities (doctorate degree is missing).	20% per month, but not more than 1 million drams per month
2.	Minimum of 10 years of work experience (cumulative) in the following ranking or indexes: Forbes, Fortune, HeadHunter, NIFTY, Dow Jones, FTSE, S&P, SSE Composite, SZSE, KOSPI, KOSDAQ, BSE SENSEX, NSE of India, BOVESPA, IBrX, ITEL, Nikkei, TOPIX, DAX, MDAX, MOEX Russia (doctorate degree is missing).
3.	A bachelor's or master's degree from one of the QS World University Rankings leading 400 HEIs, as well as a doctorate degree from any HEI (either from Armenia or outside of Armenia).	50% per month, but not more than 1,5 million drams per month
4.	A doctorate degree from any of the top 400 universities.
5.	Minimum of 10 years of work experience (cumulative) in companies from the following ranking or indexes: Forbes, Fortune, HeadHunter, NIFTY, Dow Jones, FTSE, S&P, SSE Composite, SZSE, KOSPI, KOSDAQ, BSE SENSEX, NSE of India, BOVESPA, IBrX, ITEL, Nikkei, TOPIX, DAX, MDAX, MOEX Russia and a doctorate degree from any university.
6.	A bachelor's or master's degree in one of the leading 400 universities, also a doctorate degree from any university (either from Armenia or outside Armenia), also teaches in an Armenian university and at the same time works in an organization operating in Armenia.	50% per month, but not more than 1,5 million drams per month        to the main organization and 70%, but not more than 2 million drams to the higher education institution
7.	Doctorate degree from one of the leading 400 universities, also teaches at an Armenian university, and works for an organization operating in Armenia.
8.	Minimum of 10 years of work experience (cumulative) in the companies from the following ranking or indexes: Forbes, Fortune, HeadHunter, NIFTY, Dow Jones, FTSE, S&P, SSE Composite, SZSE, KOSPI, KOSDAQ, BSE SENSEX, NSE of India, BOVESPA, IBrX, ITEL, Nikkei, TOPIX, DAX, MDAX, MOEX Russia, also a doctorate degree from any HEI who teaches at an Armenian HEI and works in an organization operating in Armenia.

 

The Investment Council of Armenia serves as a public-private dialogue platform between the Government of Armenia and SME associations aiming to develop legislative reforms that improve the business environment. The council operates through monthly sub-council meetings chaired by the Minister of Economy and quarterly council meetings chaired by the Deputy Prime Minister. During its 15 years of operation, 25 large-scale legislative reforms have been implemented through the SME Development Council and under the leadership of the IC Armenia team, including the preferential tax regime for IT start-ups, the introduction of a turnover tax system, leasing reforms, and much more.