diff --git a/README.md b/README.md
index 704b180728..259012cec4 100644
--- a/README.md
+++ b/README.md
@@ -8,7 +8,7 @@ It's a web application with a frontend designed as a single page application and
 
 ### Requirements
 
-* PHP 7.3 and later (with pdo, json, gd, openssl, zip, imap, mbstring, curl extensions);
+* PHP 7.4 and later (with pdo, json, gd, openssl, zip, imap, mbstring, curl extensions);
 * MySQL 5.7 (and later), or MariaDB 10.1 (and later).
 
 For more information about server configuration see [this article](https://docs.espocrm.com/administration/server-configuration/).