Assistance program for SMEs to attract highly qualified specialists

Those employers who will attract highly qualified specialists (HQS) can apply for state subsidy from 20% to 70% of the salary paid to the HQS. The goal of the program is to increase the productivity of existing companies by two main means: to support businesses to attract highly qualified specialists, and to promote scientific research and experimental construction activities. 

Who can apply? 

Commercial and non-commercial organizations that have recruited highly qualified specialists (HQS) during the 12 months prior to the time of application can apply for assistance in attracting highly qualified specialists. 

HQS is considered a specialist who has lived outside of Armenia for at least 12 of the 30 months prior to applying to the program and meets at least one of the following conditions:

● graduated from any of the top 400 universities in the QS World University Rankings published in the year of application and received a bachelor's, master's and/or doctorate qualification/degree.

● has a minimum of 10 years of work experience in 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, In any of the world's leading companies included in MDAX, MOEX Russia indices.

Amount of support:

● In case of involvement of BOUMs with a bachelor's degree, a master's degree, or at least 10 years of experience in any of the leading foreign companies, the organization will be reimbursed 20% of the paid salary, but not more than AMD 1,000,000 per month.

● 50% of the paid salaries will be transferred to the organization, but not more than AMD 1,500,000 per month, in the event of the involvement of BOMs with doctoral degrees from any of the top 400 universities in the QS World University Rankings.

● 70% of the salary will be reimbursed to the university, but not more than AMD 2,000,000 per month, in case of teaching in RA universities of BOMs with a doctorate degree from any of the leading 400 universities of the QS World University Rankings.

How to apply:

Check your eligibility here: https://tinyurl.com/3cs7bn72 

Sign an employment contract with a specialist. After two months, submit an application with the following documents:

Copy of the specialist’s passport

Copy of the employment contract

Documents confirming the relevant qualification

Send the package to: [email protected] 

Compensation procedure: Reimbursements are transferred to the bank accounts specified in the businessmen's applications within 15 days after the end of each quarter. Compensations are provided for 36 consecutive months starting from the approval of the application. Support is provided under the condition that BOUM has been an employee of the given economic operator for at least 2 (consecutive) months prior to applying for support. The applications must be completed and sent to the RA Ministry of Economy.