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Russia Moves Closer to Lifting Foreign Ownership Restrictions

© RIA Novosti . Vladimir FedorenkoRussia’s lower house of parliament
Russia’s lower house of parliament - Sputnik International
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Russia’s lower house of parliament on Wednesday gave its final approval for a bill to lift restrictions on foreign ownership of small and midsized businesses.

MOSCOW, July 3 (RIA Novosti) – Russia’s lower house of parliament on Wednesday gave its final approval for a bill to lift restrictions on foreign ownership of small and midsized businesses.

Currently, foreign citizens and legal entities are not allowed to own more than 25 percent of the capital of a Russian company.

The bill seeks to enable foreigners to create small and midsized businesses without any restrictions.

 

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