Law No. 863-XII “On entrepreneurship”.

This Law primarily focuses on the legal framework governing entrepreneurship, as established by the relevant laws. Its stated objectives include defining the general principles of entrepreneurial activity, outlining the rights and responsibilities of entrepreneurs, and ensuring state protection and support for entrepreneurship. Key legal principles include the recognition of various forms of ownership and the regulation of entrepreneurial relationships through national legislation. The document emphasizes the equality of all forms of ownership and the freedom of individuals to choose their business activities. The document outlines that entrepreneurs may engage in any form of business not prohibited by law, with specific measures for both individual and legal entities. It details the types of entrepreneurial activities permissible under the law, including those that do not require the establishment of a legal entity. Compliance requirements include timely reporting to state statistical and tax authorities, as well as adherence to contractual obligations. The document also highlights the importance of international agreements in cases involving foreign entities, ensuring that such relationships are governed by applicable international norms. Implementation mechanisms are not explicitly detailed in terms of timelines but indicate that the executive authorities will facilitate interactions with entrepreneurs through established policies, including tax and financial regulations. Secondary themes include the necessity for entrepreneurs to maintain accurate records and fulfill their obligations to stakeholders, as well as the potential for state support through subsidies and other financial instruments. The document underscores the importance of collaboration between entrepreneurs and government bodies to foster a conducive business environment.