ANNOUNCEMENT 29 Jan 2013
In January 2013, the government of the Russian Federation announced changes in the SME legislation, eliminating the clause that disqualified small firms from SME privileges, if they were foreign owned.
NUMBER OF INTERVENTIONS
Rossiyskaya Gazeta, an official newspaper of the Russian Government, Issue 5993 of January 29, 2013, http://www.rg.ru/2013/01/29/trebovania.html
In 2013, the Russian government improved the access of foreign investors to Russian SMEs.
Rossiyskaya Gazeta, an official newspaper of the Russian Government, in its issue 5993 of January 29, 2013, reports that the Government Legislative Commission has approved legislative amendments, proposed by the Ministry of Economic Development, concerning the law on the development of small and medium enterprises.
The amendments 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.
At the moment, the total share of SME capital, belonging to Russian state entities, public organisations, foreign physical and juridical persons, investment funds was limited to 25 per cent. The amendments (once implemented) could be regarded as creating favourable conditions for foreign investors, because they would allow them to be owners of 100 per cent of the SME shares.
According to the Chamber of Commerce and Industry of the Russian Federation, small and medium enterprises operate in the following main sectors: retail trade (46 %), immovable property transactions (19 %), construction (10 %), processing industry (7 %), and transportation (5 %).