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21.09.2018

Standard Articles of Incorporation for LLCs are approved

September 21, 2018 The Ministry of Justice of the Russian Federation registered Order of the Ministry of Economic Development of the Russian Federation No. 411 dated August 1, 2018 pursuant to which 36 standard articles of association for limited liability companies were approved.

September 21, 2018 The Ministry of Justice of the Russian Federation registered Order of the Ministry of Economic Development of the Russian Federation No. 411 dated August 1, 2018 pursuant to which 36 standard articles of association for limited liability companies were approved. 

The Order shall become effective 9 months after the date of its official publication. 

Texts of the approved standard articles of association will be published on the official website of the Federal Tax Service of Russia - http://www.nalog.ru/

This Order is intended to simplify the document flow of legal entities.

Approved standard articles of association differ in the combination of terms and conditions on the following issues:

- member’s ability to withdraw from the company;

- necessity to obtain consent of the LLC members to dispose of shares to third parties;

- availability of the pre-emption right to share purchase;

- permission of disposal of shares to other members without consent of the others;

- possibility of share transfer to heirs and successors of members without consent of the others;

- whether directors are elected individually or each company member automatically acts as a director;

- availability of notarial certification of resolutions of company members’ general meeting and composition of the members present at the adoption.


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