ANNOUNCEMENT 08 May 2013

In May 2013, the government of the Russian Federation announced altered domestic business conditions for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



185348-6
,
http://asozd2.duma.gov.ru/main.nsf/%28SpravkaNew%29?OpenAgent&RN=185348-6&02
, http://www.rg.ru/2012/09/13/zashita.html

, http://www.rg.ru/2012/12/07/biznes-anons.html

President Medvedev's 10 steps to improve investment and business opportunities in Russia,
http://www.modernrussia.com/content/president-medvedev%E2%80%99s-10-steps-improve-investment-and-business-opportunities-russia

http://www.oporaeurope.com/upload/digest/2012/Digest_Jan_June%202012.pdf

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Inception date: 08 May 2013 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

 
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:

  • Review the entrepreneurs' complains in cases of infringements against their legal rights;
  • Clarify to the entrepreneurs what rights they have;
  • Submit an entrepreneur's complain to the respective competent state authorities;
  • Contact the court with a request the legal rights and interests of an entrepreneur to be protected.

 
 
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). 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A