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On May 8, 2013, the Russian President approved Federal Law 154-SF on the appointment of an authorised person for the entrepreneurs' rights in the Russian Federation. The purpose of the new state body is to improve the investment climate and business safety in Russia.
The authorised person for the entrepreneurs' rights in appointed by the Russian President for a term of 5 years, and is entitled to:
The new state initiative has a positive effect on big international investors in Russia (see related GTA measure No. 4210 below). In addition, it may have an impact also on smaller-scale foreign investors, because currently the Russian government preparesamendments that foresee foreign nationals to be allowed to create a small and medium enterprise (SME) in Russia without a limitation of their stake in the authorised capital (see related GTA measure No. 4128 below).
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