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  News 2009    >> News Archive

2009.12.18
Deadlines for re-registration of limited liability companies are changed.

2009.12.01
License for auditors and construction companies will be abolished since 2010 in Russia.

2009.09.01
New system of social security in Russia since 2010 year. (01/09/09)

2009.05.31

Company registration in Russia: law 312-FZ makes changes to the main Russian laws.

  Company registration in Russia: law 312-FZ makes changes to the main Russian laws.

Federal law # 312-FZ dated 30 December 2008 significantly changed the way limited liability companies are regulated in Russia by introducing amendments to the main Russian laws - Russian Civil Code, the Federal law "On Limited Liability Companies", the "Fundamental Principles of Russian Legislation on Notaries" and the Federal law "On State Registration of Legal Entities and Individual Entrepreneurs".

The amendments will come into force on 1 July 2009. Prior to this date, limited liability companies will be regulated by the current legislation. From 1 July 2009 until 1 January 2010, all limited liability companies in Russia will be required to bring their constitutional documents into compliance with the new regime.

Some main point of changes to the laws:

The sole constitutional document for Limited Liability Company will be Charter. This does not remove the requirement for a limited liability company with more than one participant to have a founders' agreement but will remove the necessity to amend the founders' agreement thereafter during the company's existence.

According to the new law registration process for LLC will be similar as for Joint stock companies. According to the new law it will be required to maintain a “Register of Participants” and not necessary to make changes in the Charter every time when company has changes in structure of participants. Under the current law all information about participants is recorded in the Charter of LLC, that’s why in case of any changes it’s necessary to make changes in Charter of the company.

Essential changes took place in the procedure of transfer of a participation interest. Since the 1st of July most agreements for the transfer of participation interest will be obligatory need to be notarized. Now it’s not necessary to have notarized copy of such agreements.

The new law amends the Fundamental Principles of Russian Legislation on Notaries. A notary will be fully liable in damages for losses caused by unlawful notarization or a refusal to notarize. The minimum professional indemnity insurance coverage for the city private practice notary is set at 1,500,000 RUR.
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