MOSCOW, April 11 - RAPSI. At a meeting on Thursday, the State Duma Committee on Economic Policy endorsed a bill that lifts a number of restrictions for participation in the registered capital of small companies for foreigners and innovative development institutions, Prime agency reports.

The law will authorize foreign nationals to start small and mid-sized businesses in Russia without restricting the share of ownership. Foreign individuals and legal entities are currently restricted to a 25% maximum stake in a Russian company.

The bill will also ease restrictions on small business equity holdings for state corporations listed by the government as supporters of innovation.

The existing law on the development of small and mid-sized business in Russia stipulates that companies can be included in the small and mid-sized category if the total share of state, regional and municipal governments, foreign companies and individuals, public and religious organizations and associations, charity and other foundations in their registered and contributed capital, their mutual investment funds, and the share of one or more legal entities that are not small or mid-sized businesses, does not exceed 25%.