Law No 661-VIQ, dated 2 December 2022 "On Development
of Micro, Small and Medium Enterprises" (the
"Law"), came into effect on 26 January 2023, whereupon
Law No 673-IQ, dated June 4, 1999, On State Aid to Small
Enterprises, ceased to be effective.
The Law introduced new terms including: (i)
"unified register of micro, small and medium-sized
enterprises" - electronic information register of
micro, small and medium enterprises, which is expected to be
established within six month from the date of the Law; (ii)
«institutions providing support infrastructure to
micro, small and medium enterprises" - legal entities
engaged in an activity focused on development of the micro, small
and medium enterprises, enhancing their investment and innovation
activity, and promoting their products in domestic and foreign
market; and (iii) «business incubator»
-legal entity providing support to its residents by offering
relevant property related and management services as well
