16.08.07

The State Duma is considering a new draft bill to complicate further the procedure for registering legal entities. The purpose is to prevent the registration of “one-day” businesses and company takeovers.

The proposed bill allows the registration to be put on hold if authenticity of the submitted information seems questionable. The procedure may also be suspended in response to a complaint of an interested party.

The list of required documents is also expanded. An applicant must provide proof of existing charter capital and that the organization in fact is located at the address stated in the documents.

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