The number of foreign ICT companies operating outside the technology parks in Azerbaijan is aimed at increasing to 35 by the end of this year, Yevgeniya Bikmurzina, head of the innovation ecosystem department of the Innovation and Digital Development Agency (IDDA) under the Ministry of Digital Development and Transport, said at a press conference, Report informs.

"Up to date, 70 legal entities out of more than 200 applications have received residency for the technology park. I would like to note that the process of issuing the certificates to 7 foreign companies is ongoing," Bikmurzina said.

Starting in 2023, residents who obtain an IDDA licence will enjoy the following benefits:

- Residents operating outside the technology park in the field of system integration and/or software development are exempt from several taxes (income and profit tax, dividend, property, land);

- For residents operating outside the technology park in the field of system integration and/or software development, the following income tax benefits are provided: 0 percent tax payment for salary up to 8000 manats ($4,705.88), 5 percent tax payment for salary amount over 8000 manats ($4,705.88), and 5 percent tax payment for any salary amount for 7 years, starting from January 1, 2026;

- Foreign specialists of the resident company operating outside the technology park in the field of system integration and/or software development are not required to obtain a work permit;

- Employees of residents working outside the technology park in the field of system integration and (or) software development and development, depending on their choice, from January 1, 2023, and for up to 10 years, are paid a mandatory state social insurance contribution either equal four times minimal monthly wage, or from income from hired labor.