From July 1, the procedure for notarization of the decision of the legal entity’s sole participant to increase the amount of authorized capital has been changed

The Federal Law “On Limited Liability Companies” has been clarified, according to which the decision of a legal entity’s sole participant to increase the amount of company’s authorized capital is subject to notarization.

Performance of the relevant notarial action by a notary is confirmed by the issuance of a certificate to the applicant. Thus, the duties of a notary include:

• identification of a legal entity participant;
• determination of the participant’s powers and his right to make an appropriate decision;
• certification of the document on the capital increase;
• issuance of a certificate confirming the commission of the specified action.

Previously, the legal rules required notarization of the signature’s authenticity on the document, which did not provide certification of the document’s content.