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Due diligence and compliance are the procedures which are necessary for conducting any business activity. Both concepts are interrelated as they have a goal of avoiding as much as possible any legal and financial risks for the owner of organization or investor.
Registration of a legal entity is an event for the opening of a new limited liability company for conducting business. It is generally accepted that entrepreneurs open companies in the place where they live and are going to do business. However, regarding the registration of an LLC in another city, the law says that there is a right to open a company in any city, village, settlement. Thus, there are no legal restrictions. Also, it does not matter for the opening whether the potential founder or director is in the locality at the moment. Moreover, registration of the founder or director at the place of residence is also not important. The only clarification concerns the mandatory availability of a clear and detailed legal address of the future LLC. To register it, it is enough to rent non-residential premises or buy real estate in the location in which the LLC will be opened. In this article we will consider in detail the issues related to the opening of a legal entity in another city.
A legal entity can be liquidated voluntarily and forcibly, as well as if it is declared insolvent. In case of voluntary liquidation, the reason for such a decision can be expiration of the deadline or fulfillment of its company’s objectives. When a legal entity is forcibly terminated (for example, based on a court decision), mistakes are often made. In such cases, the owners have a question: is it possible to appeal the decision on the liquidation of a legal entity.
To get a job in a Russian company, foreigners first need to obtain a patent or work permit in Russia (PHP). This is a permit issued by citizens of other states in order to legally work in the Russian Federation. It is intended for those who temporarily stay in the country and do not have the status of a permanent resident foreigner.
Accounting audit is intended to ensure accuracy of financial statements, which are prepared according to the results of a calendar year. It should provide the company’s management and regulatory authorities with reliable information about the financial standing of the enterprise. The task of auditors is to make sure that statements contain correct and comprehensive data and there are no mistakes, inaccuracies or deliberate distortion.
State registration of a legal entity is the process of establishing a new company by one businessman or a group of entrepreneurs. The standard procedure involves collecting all documents and personally submitting them to government agencies. However, for the convenience of businessmen, the procedure for remote registration of the company was introduced. We can note that recently this format has become popular.
Notification of creditors about the liquidation of a legal entity is a mandatory procedure, but the law does not provide a uniform form for this case. If the creditors are not informed, they will have the right to appeal against the legality of the liquidation of the company in court.
Subsidiary liability (CO) is one of the types of liability that occurs in the event of bankruptcy of the company and the formation of debt. In this case, the head of the legal entity will be obliged to repay the debt from his own funds.
Companies and individual entrepreneurs while carrying out its business activities, inevitably face conflict situations related to violations of its rights. In such circumstances, the most common and effective method of resolving a conflict is to protect violated rights in an arbitration court. According to Russian legislation, disputes involving legal entities, organizations and individual entrepreneurs are resolved by arbitration courts.
Only the general meeting of participants can decide on the liquidation of the company. After that, a liquidation commission is formed or a liquidator is appointed, who will be responsible for the procedure and will take over the management of the company’s affairs.
Double citizenship is a situation where a person is simultaneously a citizen of several states. This requires an international Treaty regulating double citizenship: if there is no such Treaty between the Russian Federation and another state, it is impossible to obtain another citizenship legally. However, the Russian Constitution provides for the right to obtain citizenship of another country. Why might this be necessary?
