Simplified liquidation procedure for SMEs from October 10, 2023
On October 10, 2023, the form of an application (form No. P19001) for the simplified liquidation of a legal entity classified as a small and medium-sized enterprise (SME) enters into force.
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The government commission has updated the list of conditions for issuing permits to foreigners from unfriendly states to engage in transactions with shares and stakes of Russian companies
The Ministry of Finance of Russia has published an excerpt from the decision of the subcommittee of the Government Commission on Control over Foreign Investments in the Russian Federation dated July 7, 2023, No. 171/5, which updates the list of conditions for issuing permits to foreign nationals from unfriendly states to conduct transactions involving the sale of shares and stakes in Russian companies.
Softening of state regulation for international companies. Amendments to the Federal Law No. 290 'On International Companies and International Funds'
From April 14, 2023, a bill has been submitted to the State Duma proposing new provisions regarding the activities of international companies. Against the backdrop of sanctions imposed on the Russian Federation by unfriendly countries, the bill aims to adjust the provisions of the existing Federal Law No. 290 "On International Companies and International Funds" (hereinafter referred to as the Law) in terms of easing and softening the state regulation of international organizations.Read more
Remote annual general meetings for LLCs and JSCs: conditions, procedures, and features
For two years now, legislation has granted joint-stock companies and limited liability companies the right to hold meetings of participants remotely. With this method of holding meetings, the presence of all participants (shareholders) of the company at the meeting venue is not required; it is sufficient to connect with electronic or technical means at the appointed time.
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Overview of Sanctions and Other Restrictions, as well as Legislative Easements and Measures of State Support for Business in Russia
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Choosing a business structure in Russia
What options do we have to set up a legal entity in Russia?
Foreign companies may choose among the following 4 options:
- Joint-stock company
- Limited liability company
- Representative office
- Branch office
Amendments to the corporate law due to COVID-19 pandemic
On April 01, 2020, the State Duma passed a bill into law amending the following:
- regulations on the content of annual reports from public corporations (companies) and public not-for-profit organizations;
- regulations providing for special rules for the regulation of corporate relations in 2020;
- regulations suspending certain legislative acts in Russia.
Business activity forms for foreign companies in Russia
When setting up a subsidiary/company in Russia, foreign companies need to choose the right type of legal entity/business form for their business in Russia.
Our table shows the types of legal entities/business forms that foreign companies can set up in Russia, comparing the following parameters: general information, registration, registration fees, ownership requirements, legal address, assets, activity, mandatory corporate procedures, reporting, liability, foundation documents, additional procedures, antimonopoly regulations, and management.
Appointment of 2 Directors in a Russian company
We are frequently asked whether it is possible that companies in Russia have 2 directors. Our lawyers answered this question in the article below.Read more
Liquidation of a Company in Russia
Liquidation of a company in Russia may seem to be a tricky and complicated process. In order to help companies learn more about the whole process and be able to estimate possible time frames, please see below a liquidation plan for an LLC in Russia (OOO) with Konsu, which consists of 11 steps.