diff --git a/.github/workflows/branch_preparation.yml b/.github/workflows/branch_preparation.yml
new file mode 100644
index 000000000..373b408d1
--- /dev/null
+++ b/.github/workflows/branch_preparation.yml
@@ -0,0 +1,110 @@
+name: Branch Preparation CI
+
+on:
+  push:
+    branches:
+      - 'release/**'
+    tags:
+      - 'v[0-9]+.[0-9]+.[0-9]+**'
+
+jobs:
+  prepare_develop_branch_after_release:
+    runs-on: ubuntu-latest
+    if: ${{ github.ref_type == 'tag' }}
+    steps:
+      - uses: actions/checkout@v4
+        with:
+          fetch-depth: 0
+      - run: |
+          git checkout develop
+
+      - uses: cachix/install-nix-action@v22
+      - name: Pre-populate nix-shell
+        run: |
+          export NIX_PATH=nixpkgs=$(jq '.nixpkgs.url' nix/sources.json -r)
+          echo "NIX_PATH=$NIX_PATH" >> $GITHUB_ENV
+          nix-shell --pure --run "echo" ./shell.nix
+      - name: Check if the chart is publishable
+        run: |
+            tag=${{ github.ref_name }}
+            echo "BASE=$(nix-shell --pure --run "./scripts/update-chart-version.sh --tag $tag --type develop" ./shell.nix)" >> $GITHUB_ENV
+      - name: Create Pull Request to develop
+        id: cpr
+        uses: peter-evans/create-pull-request@v5
+        with:
+          base: ${{ env.BASE }}
+          commit-message: "chore(ci): update helm chart versions and/or git submodules"
+          committer: GitHub <noreply@github.com>
+          author: ${{ github.actor }} <${{ github.actor }}@users.noreply.github.com>
+          title: "Prepare develop branch after release ${{ github.ref_name }}"
+          labels: |
+            prepare-develop-branch
+            automated-pr
+          draft: false
+          signoff: true
+          branch: "create-pull-request/patch-${{ env.BASE }}"
+          token: ${{ secrets.GITHUB_TOKEN }}
+
+  prepare_release_branch_after_release:
+    runs-on: ubuntu-latest
+    if: ${{ github.ref_type == 'tag' }}
+    steps:
+      - uses: actions/checkout@v4
+      - uses: cachix/install-nix-action@v22
+      - name: Pre-populate nix-shell
+        run: |
+          export NIX_PATH=nixpkgs=$(jq '.nixpkgs.url' nix/sources.json -r)
+          echo "NIX_PATH=$NIX_PATH" >> $GITHUB_ENV
+          nix-shell --pure --run "echo" ./shell.nix
+      - name: Check if the chart is publishable
+        run: |
+          tag=${{ github.ref_name }}
+          echo "BASE=$(nix-shell --pure --run "./scripts/update-chart-version.sh --tag $tag --type release" ./shell.nix)" >> $GITHUB_ENV
+      - name: Create Pull Request to release
+        id: cpr
+        uses: peter-evans/create-pull-request@v5
+        with:
+          base: ${{ env.BASE }}
+          commit-message: "chore(ci): update helm chart versions and/or git submodules"
+          committer: GitHub <noreply@github.com>
+          author: ${{ github.actor }} <${{ github.actor }}@users.noreply.github.com>
+          title: "Prepare release branch after release ${{ github.ref_name }}"
+          labels: |
+              prepare-release-branch
+              automated-pr
+          draft: false
+          signoff: true
+          branch: "create-pull-request/patch-${{ env.BASE }}"
+          token: ${{ secrets.GITHUB_TOKEN }}
+
+  prepare_release_branch_on_creation:
+    runs-on: ubuntu-latest
+    if: ${{ github.ref_type == 'branch' }}
+    steps:
+      - uses: actions/checkout@v4
+      - uses: cachix/install-nix-action@v22
+      - name: Pre-populate nix-shell
+        run: |
+          export NIX_PATH=nixpkgs=$(jq '.nixpkgs.url' nix/sources.json -r)
+          echo "NIX_PATH=$NIX_PATH" >> $GITHUB_ENV
+          nix-shell --pure --run "echo" ./shell.nix
+      - name: Check if the chart is publishable
+        run: |
+          branch_name=${{ github.ref_name }}
+          nix-shell --pure --run "./scripts/update-chart-version.sh --branch $branch_name" ./shell.nix
+      - name: Create Pull Request to release
+        id: cpr
+        uses: peter-evans/create-pull-request@v5
+        with:
+          base: ${{ github.ref_name }}
+          commit-message: "chore(ci): update helm chart versions and/or git submodules"
+          committer: GitHub <noreply@github.com>
+          author: ${{ github.actor }} <${{ github.actor }}@users.noreply.github.com>
+          title: "Prepare ${{ github.ref_name }} branch"
+          labels: |
+              prepare-release-branch
+              automated-pr
+          draft: false
+          signoff: true
+          branch: "create-pull-request/patch-${{ github.ref_name }}"
+          token: ${{ secrets.GITHUB_TOKEN }}
diff --git a/scripts/update-chart-version.sh b/scripts/update-chart-version.sh
new file mode 100755
index 000000000..7fa43e0be
--- /dev/null
+++ b/scripts/update-chart-version.sh
@@ -0,0 +1,140 @@
+#!/usr/bin/env bash
+
+# Write output to error output stream.
+echo_stderr() {
+  echo -e "${1}" >&2
+}
+
+die()
+{
+  local _return="${2:-1}"
+  echo_stderr "$1"
+  exit "${_return}"
+}
+
+help() {
+  cat <<EOF
+Usage: $(basename "$0") [OPTIONS]
+
+Options:
+  --branch <branch name>                    Name of the target branch.
+  --tag <tag>                               Release tag.
+
+Examples:
+  $(basename "$0") --branch release/x.y
+EOF
+}
+
+# yq-go eats up blank lines
+# this function gets around that using diff with --ignore-blank-lines
+yq_ibl()
+{
+  set +e
+  diff_out=$(diff -B <(yq '.' "$2") <(yq "$1" "$2"))
+  error=$?
+  if [ "$error" != "0" ] && [ "$error" != "1" ]; then
+    exit "$error"
+  fi
+  if [ -n "$diff_out" ]; then
+    echo "$diff_out" | patch --quiet --no-backup-if-mismatch "$2" -
+  fi
+  set -euo pipefail
+}
+
+create_version_from_release_branch() {
+  if [[ "$BRANCH_NAME" =~ ^(release/[0-9]+\.[0-9]+)$ ]]; then
+    local EXTRACTED_VERSION=$(echo "$BRANCH_NAME" | grep -oP '(?<=release/)\d+\.\d+')
+    CURRENT_CHART_VERSION=$(yq e '.version' "$CHART_YAML")
+    if [[ "$CURRENT_CHART_VERSION" == *"-develop" ]]; then
+      VERSION="${EXTRACTED_VERSION}.0-prerelease"
+    elif [[ "$CURRENT_CHART_VERSION" == *"-prerelease" ]]; then
+      VERSION=$CURRENT_CHART_VERSION
+    else
+      die "Current chart version doesn't match a develop or prerel format"
+    fi
+  else
+    die "Invalid branch name format. Expected 'release/x.y' only"
+  fi
+}
+
+create_version_from_tag() {
+  if [[ "$TAG" =~ ^(v[0-9]+\.[0-9]+\.[0-9]+)$ ]]; then
+    local EXTRACTED_VERSION=$(echo "$TAG" | grep -oP '(?<=v)\d+\.\d+.\d+')
+    if [[ $TYPE == "release" ]]; then
+      VERSION="$(semver bump patch $EXTRACTED_VERSION)-prerelease"
+      echo "release/$(echo $EXTRACTED_VERSION | cut -d'.' -f1,2)"
+    elif [[ $TYPE == "develop" ]]; then
+      VERSION="$(semver bump minor $EXTRACTED_VERSION)-develop"
+      echo "develop"
+    else
+      die "Invalid type. Expected 'release' or 'develop'."
+    fi
+  else
+    die "Invalid tag format. Expected 'vX.Y.Z'"
+  fi
+}
+
+update_chart_yaml() {
+  local VERSION=$1
+  local APP_VERSION=$2
+
+  yq_ibl ".version = \"$VERSION\" | .appVersion = \"$APP_VERSION\"" "$CHART_YAML"
+  yq_ibl ".version = \"$VERSION\"" "$CRD_CHART_YAML"
+  yq_ibl "(.dependencies[] | select(.name == \"crds\") | .version) = \"$VERSION\"" "$CHART_YAML"
+  yq_ibl ".zfsPlugin.image.tag = \"$VERSION\"" "$VALUES_YAML"
+}
+
+set -euo pipefail
+
+# Set the path to the Chart.yaml file
+SCRIPT_DIR="$(dirname "$(realpath "${BASH_SOURCE[0]:-"$0"}")")"
+ROOT_DIR="$SCRIPT_DIR/.."
+CHART_DIR="$ROOT_DIR/deploy/helm/charts"
+CHART_YAML="$CHART_DIR/Chart.yaml"
+VALUES_YAML="$CHART_DIR/values.yaml"
+CRD_CHART_NAME="crds"
+CRD_CHART_YAML="$CHART_DIR/charts/$CRD_CHART_NAME/Chart.yaml"
+# Final computed version to be set in this.
+VERSION=""
+
+# Parse arguments
+while [ "$#" -gt 0 ]; do
+  case $1 in
+    -b|--branch)
+      BRANCH_NAME=$2
+      shift
+      ;;
+    -t|--tag)
+      TAG=$2
+      shift
+      ;;
+    --type)
+      TYPE=$2
+      shift
+      ;;
+    -h|--help)
+      help
+      exit 0
+      ;;
+    *)
+      help
+      die "Unknown option: $1"
+      ;;
+  esac
+  shift
+done
+
+if [[ -n "${BRANCH_NAME-}" ]]; then
+  create_version_from_release_branch
+elif [[ -n "${TAG-}" && -n "${TYPE-}" ]]; then
+  create_version_from_tag
+else
+  help
+  die "Either --branch or --tag and --type must be specified."
+fi
+
+if [[ -n $VERSION ]]; then
+  update_chart_yaml "$VERSION" "$VERSION"
+else
+  die "Failed to update the chart versions"
+fi