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Bill “On Limited Liability and Additional Liability Companies” was signed by the President Back

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On March 13, 2018, the bill “On Limited Liability and Additional Liability Companies” was returned with the signature of the President. Thus, three months after its official publication, the Law will enter into force and its provisions will be binding.

So, the new Law requires a number of changes (additions) to the company’s charter within a year. Otherwise, starting from 15.06.2019 the provisions that do not comply with this Law will be considered invalid.

In addition to documentary changes, the Law also introduces a number of innovations, such as conclusion of corporate contracts between the founders, a simplified form of inheritance of shares of the enterprise participants, acquisition by the enterprise of a share in its own authorized capital, increase of the authorized capital without additional investments, etc.