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Amendments to the procedure for paying the registered capital of a limited liability company come into force.

The Federal Law No.129-FZ dated 05.05.2014 “On amendments to Article 90 of the first part of the Russian Civil Code and Article 16 of the Federal Law ‘On limited liability companies’ eliminates preliminary payment of 50% of registered capital before registration and reduces the total time allowed for payment from one year to four months.

The document will come into force from 05.05.2014 (the day of official publication)

The amendments state that each founder of the company shall pay his share in the company’s registered capital in full within the period specified by the agreement on company establishment or (in case of establishment of a company by a single person) following the decision to establish such company. The time for such payment shall not exceed four months from the time of state registration of the company. The share of each founder of the company may be paid at a price not below its nominal cost.

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