Russia moves to draft law to support business angels ? NABA president

Russia moves to draft law to support business angels ? NABA presidentA number of Russia?s ?development institutions? are drafting Russia?s first-ever legislation that would grant national business angels tax benefits, prominent business angel Konstantin Fokin said

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, Russian news agency RIA Novosti reported, citing Konstantin Fokin, a prominent Russian business angel and the president of the National Association of Business Angels (NABA). 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, Mr. Fokin said. In Russia, most deals in business angel investing value at a few dozen thousand dollars, but there are up to $1m deals as well...