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President Putin signs law aimed at support of small and medium business

Russia’s Small and Medium Business Development Corporation will be authorized to monitor compliance with requirements of Russian laws in small and medium business development sphere

© TASS/Mikhail Metzel

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MOSCOW, June 30. /TASS/. Russian President Vladimir Putin signed the law simplifying requirements for recognition of companies as small and medium business entities, the official website of the Kremlin said on Tuesday.

In particular, the participation limit of foreign legal entities and Russian legal entities not being small and medium businesses in the charter [share] capital of small and medium business entities is increased from 25% to 49%. Furthermore, the status of small and medium business entities will be conferred to organizations having the status of participants in research projects of Skolkovo Fund and legal entities, whose share in the charter [share] capital is included into the common property of an investment partnership.

Russia’s Small and Medium Business Development Corporation will be vested with the special authority to monitor compliance with requirements of Russian laws in small and medium business development sphere.

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