How to apply?

In order to receive support under the program for the involvement of specialists, organizations that meet the program's conditions must apply to the Ministry of Economy of the Republic of Armenia, submitting the required documents.

Requirements

Support can be obtained by commercial and non-commercial organizations registered and operating in the Republic of Armenia that, during the 12 months preceding the application date, have engaged highly qualified specialists who meet at least one of the following requirements:

• the specialist has lived outside the territory of the Republic of Armenia for at least 12 months out of the 30 months preceding the date the organization applied for the program.
• the specialist has graduated from one of the top 400 universities listed in the QS World University Rankings published in the year of application and holds a Bachelor's, Master's, and/or Doctoral degree.
• the specialist has a minimum of 10 years of work experience in companies issued by or forming part of the following (or similar) indices/companies: 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.

Required documents

To apply for the program, the following documents must be submitted to the Ministry of Economy:

• For cases involving study at a university meeting the conditions set out in the "Requirements" section: The original or a notarized copy of the certificate substantiating the higher education or scientific degree.
• For cases involving employment at companies meeting the conditions set out in the "Requirements" section: An official reference letter from one of the mentioned companies, which must clearly state the duration of the person's employment at that company, the positions held, the name, surname, position, email address, and phone number of a representative of the management staff.
• Application-form, which must compulsorily indicate the name of the company located in the Republic of Armenia, the TIN, the address of the location, and bank details.
• A copy of the employment contract concluded with the specialist by the company located in the Republic of Armenia.
• A copy of the specialist's identity document.
• The specialist's consent regarding the transfer, receipt, and processing of their personal data, including the amount of salary and taxes paid, by the Ministry of Economy of the Republic of Armenia and the SRC of the Republic of Armenia.

Amount of support

• The organization is reimbursed 20% of the specialist's salary and other payments (vacation pay, bonuses, awards), with a maximum of 1 million AMD, but not more than the paid income tax.
• If the highly qualified specialist holds a Doctoral scientific degree (Ph.D.), 50% of their salary and other payments (vacation pay, bonuses, awards) is reimbursed, with a maximum of 1.5 million AMD.
• If a highly qualified specialist with a Doctoral scientific degree also teaches in Armenian Higher Education Institutions (HEIs), in addition to the specified compensation for the main workplace salary, 70% of the salary and other payments (vacation pay, bonuses, awards) paid by the HEI will also be reimbursed, with a maximum of 2 million AMD.

Delivery period and procedure

Support is provided within 23 business days after the submission of the application.

Reimbursements are provided for 36 consecutive months starting from the date of the application's approval.

Reference to Legislation

Decision of the Government of the Republic of Armenia No. 1224-L of August 4, 2022.

The decision can be found on arlis.am (it is necessary to read the latest version of the act).