Limited liability Corporation (OOO)
LLC is a profit-making organization, set by one or some entities with authorized capital which is divided into shares according to foundation documents.
One of the commitment of LLC is an availability of authorized capital minimum 10 000 rubles.
Authorized capital is a guarantee for creditors.
Participants of this corporation are liable for obligations of the corporation only within their own contribution in capital of the company.
The organs of LLC:
1. General meeting of founding members
2. The leader
3. Supervisory Board. It can be created on a voluntary basis, but it is compulsory if LLC has 500 employees or more. In this case, supervisory board consists of founding members and employees.
1. Change of articles including size of authorized capital
2. Creation of executive departments and pre-schedule ceasing of their authorities
3. Allocation profits and losses
4. Approval of annual report
5. Choice of revision commission
6. Restructuring and liquidation of the company
Ceasing of LLC activity:
1. Completion of the activities’ period according to foundation documents
2. Achievement of the targets for which LLC was founded
3. Recognition of the court registration of a company void
4. Refusal of conversion of LLC into a corporation, if the number of participants exceeded the limit and did not decrease until the end of the year
5. Decrease in net asset value below the minimum allowable amount of the authorized capital
Joint stock company (AO)
Company - the authorized capital is divided into a certain number of shares.
Shareholders are responsible for the company's obligations and bear the risk of losses associated with the Company only to the value of shares held by them (the minimum authorized capital = 100,000 rubles).
Open Joint Stock Company (JSC) - a society whose members can sell their shares without the consent of shareholders.