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Classes of Companies / Partnerships in Russia
It is possible to incorporate in Russia in one of the following forms:
- A Limited Liability Company (with the suffix OOO).
- No more than one person is required to found the company.
- The company appoints two bodies of management, a "board of directors" and a "board of management".
- The liability of the owners of the company is limited to the amount of capital invested.
- The maximum number of shareholders is 50.
- The company's financial statements must be filed in Russian (roubles).
- An Open Consolidated Stock Company (with the suffix OAO)
- The company may issue and offer shares to the public.
- A shareholder may sell his shares without the consent of the other shareholders.
- The company is managed by a board of directors.
The board appoints the "board of management" that deals with the everyday management and operation of the Company.
- The liability of the members is limited to the amount of capital invested.
- The accounts and reports will be prepared in Russian.
- The annual statements will be audited in roubles by an auditor.
- A Closed Consolidated Stock Company (with the suffix ZAO)
- This class of company is similar to the open stock company with a number of differences.
- The company may not issue shares to the public.
- The company may not issue shares to the public.
- The consent of other shareholders is necessary for a shareholder to sell any of his shares in the company.
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