Every Russian LLC MUST Hold An Annual General Meeting of Participants
The law firm of Vasiliev, Klein and Usov kindly reminds you that every Russian LLC must, in the period from March 1 to April 30, 2018, hold an annual general meeting of participants, at which the annual results of the company's work are approved. Failure to conduct this meeting may later create difficulties with the distribution of dividends, correcting invalid transactions, and so on. In addition, not holding a general meeting of shareholders may be grounds for imposing an administrative fine on the company and its directors. The director (official representative) may be fined RUB 20,000 to RUB 30,000 or face disqualification for a period of up to one year. The company may be fined RUB 500,000 to RUB 700,000. (Article 15.23.1 Russian Code of Administrative Offenses)
If a company fails to fulfill the document safekeeping obligations provided by law, an administrative fine from RUB 2,500 to RUB 5,000 will be imposed on the offending company’s general director, and a fine from RUB 200,000 to RUB 300,000 will be imposed on the offending company.
Our company offers services for preparation and holding of meetings dispatch of notices and preparation of materials for them, as well as confirmation of the results of the meeting.
Denis Vasiliev, Equity Partner
Larisa Ryazantseva, Senior Lawyer
Tel: +7(495) 988 2171