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Russian legislation provides a special procedure for the final termination of commercial activity, without transfer of rights and obligations. Each stage of legal entity’s termination is regulated by law. In case of law violation, the procedure may be delayed for a long time or come to a standstill, which is disadvantageous for company’s owner and threatens with large fines.
Russian legal system provides two main ways of dispute settlement. The main and most frequently used method is a trial settlement of conflicts. However, for a variety of reasons, the second method – pre-trial dispute settlement, is gaining increasing popularity. Its essence is in avoiding of lengthy litigation and related financial, opportunity and other costs.
Accounting – is a system of collection, registration, and analysis of data about company’s business activity in financial terms. Russian legislation requires all companies to keep accounting. Even sole proprietors must comply with these requirements. Accounting data help to assess conditions of company’s affairs, however accounting mistakes may lead to serious consequences such as gross fines from state authorities.
An association of companies is a form of economic activity that involves the presence of several organizations. The association is necessary to create a single organism for the coordination of their industrial, scientific and other activities, as well as to solve joint economic and social problems. In essence, this is what is called the joint activity of companies.
Liquidation of a foreign legal entity is a multistage procedure introduced by the state and resulting in cessation of operations by companies. After a company officially closes, these data are recorded in the corresponding register and the company is registered as liquidated. At the same time, all its subsidiary offices abroad should also commence the liquidation procedure according to the legislation.
According to art. 52 of the Civil Code of the Russian Federation, legal entities act on the basis of the articles of association (AoA), which shall be approved by their members. The AoA of commercial corporations (JSC or LLC) is the main document regulating their activities. Also, the AoA contains basic information about the company making possible its identification. Company members can also draw up a memorandum of association (MOA) governing the establishment of an enterprise.
Residence permit – is a document that grants foreign citizens the right to permanently live in Russia, do business, freely move from region to region as well as cross Russian borders. Residence permit grants a foreigner almost the same amount of rights as Russian citizens have and imposes very few restrictions.
Foreign citizens planning to move to one of Russian cities should obtain the document which is called residence permit. It gives them the same rights and obligations as Russian citizens have with few exceptions. Official status relieves foreigners from need to leave country from time to time or stay within the same region. Having a residence permit, a foreigner can freely travel within the country, move from region to region, change jobs, and cross the Russian border as many times a year, as necessary.
Registration of a company, namely a limited liability company, is not a complicated or labor-intensive procedure today. To do this, it is necessary to have one or more founders, an authorized capital of more than 10,000 rubles, a charter, a protocol on the establishment of an LLC and an agreement if there are several founders. The latter document performs a rather important function – it fixes the size, procedure and terms of payment of shares in the authorized capital for each of the founders in order to avoid a dispute.
Every labor relations participant has the right to protect their rights and freedoms, including with the support of the State. This is stipulated by the legislation of the Russian Federation. It follows that employees and employers can resolve labor disputes not only administratively, but also in court. According to the Labor Code of the Russian Federation, the resolution of labor disputes in court is the main way to protect the interests of the parties.
Fixed assets are assets and values that are needed for the production, operation of the company. Over time, they transfer their value to products. This happens through depreciation. The main document that governs the accounting of the value of fixed assets is the provision “Accounting for fixed assets” (PBU 6/01) dated March 30, 2001.
The issue of entering into a contract for the sale of an enterprise of a property complex arises quite often and in many areas of entrepreneurship. The set of measures that make it possible to transfer a particular production to the client’s management involves its own characteristics, which will be useful to study both the supplier and the customer.
Property after the liquidation of company its items, valuables and funds that remain after settlements with creditors. The participants of the company can divide it among themselves, and if a limited liability company has a single participant, all values become personal property – a section is not needed in this case.
A corporate dispute is a disagreement between the participants (shareholders) regarding the nuances of doing business. Such conflicts can harm both individual participants and the company. It is for this reason that we do not recommend leaving the disagreement that has arisen on its own. In this article, we will note the areas of corporate law where claims of participants are most common and consider the procedure for resolving corporate disputes.
Russian laws oblige all companies that are engaged in entrepreneurial activities to maintain accounting records. This requirement also applies to individual entrepreneurs, regardless of whether they have employees or not. Accounting is an integral part of the work of any organization. By its state, you can determine how successful the business is, and checking the accounting allows you to track errors in business activity. Thus, it affects efficiency of the entire enterprise. Without expertise, it is easy to miss serious risks and mistakes, fraught with fines or even criminal liability.
