Law aimed at SME development and support endorsed

Vladimir Putin has signed the federal law “On Entering Amendments to Certain Legislative Acts of Russia on SME Development in the Russian Federation”.

The federal law was passed by the State Duma on June 19, 2015 and approved by the Federation Council on June 24, 2015.

Reference from the State and Legal Administration: The Federal law is directed at the development and support of SME in the Russian Federation. In particular, the participation threshold for foreign legal entities and for Russian legal entities which are not SME subjects, in the joint-stock (shareholding) capital of SME subjects is increased from 25% to 49%.

The federal law confers the SME status upon:

Companies (organizations) which have been granted the status of project participants in the performance of research, development and commercialization of their results in keeping with the federal law “On Skolkovo Innovation Centre”, notwithstanding the stake in the joint-stock (shareholding) capital of such companies in other legal entities (both foreign and Russian);

Legal entities whose stake in the joint-stock (shareholding) capital is included in the total assets of an investment partnership, notwithstanding the size of that stake.

The federal law also excludes the upper limits on proceeds from the sale of goods (works, services), to be recurrently fixed by the Russian Government as the grounds for ranking business subjects among the SME subjects.

To coordinate the support provided for SME subjects, the Federal law confers special powers on the SME Development Corporation, to monitor the implementation of the requirements of the Russian SME Development law.

Source: http://kremlin.ru/catalog/keywords/40/events/49789

06/30/2015