Russia moves to draft law to support business angels – NABA president
Rusnano, Russian Venture Company and some other organizations known as Russia’s ‘development institutions’ are drafting this country’s first-ever legislation that would grant business angels tax benefits
Oct 16, 2013
The draft document is "at a high degree of completion" and, if signed into law, may help dramatically improve the domestic system of early-stage project support, said Konstantin Fokin, a prominent Russian business angel and the president of the National Association of Business Angels (NABA).
In Russia, most deals in business angel investing value at a few dozen thousand dollars, but there are up to $1m deals as well. The angel investors put up their personal money in a bid to growing the value of their seed and start-up stage portfolio companies.
Many experts reckon Russia’s been lagging behind in backing this form of investing, and legislative tools are of paramount importance. The idea of granting angel investors tax benefits was first discussed in November 2010 at a meeting of the Presidential Commission for Mdernization.
According to Mr. Fokin, the draft bill calls for income tax exemption for business angels that invest in high technology projects. The NABA president believes this would be a way of partially sharing investment risks between the government and angel investors.
In Russia, most deals in business angel investing value at a few dozen thousand dollars, but there are up to $1m deals as well. The angel investors put up their personal money in a bid to growing the value of their seed and start-up stage portfolio companies.
Many experts reckon Russia’s been lagging behind in backing this form of investing, and legislative tools are of paramount importance. The idea of granting angel investors tax benefits was first discussed in November 2010 at a meeting of the Presidential Commission for Mdernization.
According to Mr. Fokin, the draft bill calls for income tax exemption for business angels that invest in high technology projects. The NABA president believes this would be a way of partially sharing investment risks between the government and angel investors.