There will no longer be CJSC and OJSC in the Russian Federation
02.09.2014 2302

There will no longer be CJSC and OJSC in the Russian Federation

In Russia, on September 1, amendments to the Civil Code began to operate, according to which closed and open joint-stock companies (CJSC and OJSC), as well as additional liability companies (ALC), cease their activities. Instead of the usual forms of companies, "public" and "non-public" firms will appear. Public legal entities (as opposed to "non-public" ones) will be able to freely trade their securities. A joint stock company whose articles of association and company name indicate that it is public will be subject to the rules on public companies. All other joint stock companies, as well as limited liability companies (LLC) will now be non-public companies. It is comforting that the state does not require companies to urgently re-register, as well as the fact that state fees for bringing documents in line with the new rules will not be charged.

In Russia, from September 1, amendments to the Civil Code began to operate, according to which closed and open joint stock companies (CJSC and OJSC), as well as companies with an additional ...
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