Russian Parliament has adopted a draft law aimed to improve the functionality of Russian companies’ register (EGRUL), including the following.
A Russian company will be obliged to update its information in EGRUL within 7 days from the day the information is changed. This is a long-awaited improvement because currently this term is 3 days, what is often not enough to sign all documents and file them to EGRUL.
If a company changed the name, its new name will be automatically updated in EGRUL with regard to every company where the first company is the shareholder, the management company or the holder of the shareholders’ register.
The draft law shall enter into force within 180 days after publication.