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Russia relaxes foreign ownership rules
February 18, 2013, 12:19 pm

[AP]

The bill will lift restrictions on foreigners’ stakes in businesses established by Russian autonomous scientific and educational establishments. [AP]

The Russian government has approved amendments to a law lifting restrictions on foreign stakes in some domestic small and medium businesses, the government press office reported on Monday.

The bill envisages lifting restrictions on foreigners’ stakes in small and medium businesses established by Russian autonomous scientific and educational establishments.

Foreigners can currently hold only 25 per cent in the capital of these entities.

Restrictions will be lifted for small and medium businesses included in the list of entities to be approved by the Russian government.

“This regulation aims to grant the status of small or medium enterprises to businesses created by companies referred to as development institutions, which will help provide them with additional financial or material support,” the press office said.

The amendments were discussed at a government meeting on Wednesday.

Source: Agencies

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