Russian Ministry of Economic Development has elaborated a draft law that Russian limited liability companies will be allowed to engage a registrar to maintain the register of shareholders.
A registrar is a professional securities market participant licensed to manage the registers of shareholders of joint-stock companies. In accordance with the draft law, registrars will be also entitled to maintain the registers of shareholders of limited liability companies.
Currently limited liability companies maintain the registers of their shareholders by themselves; LLC’s shareholders are also recorded in Russian companies’ register.
In accordance with the draft law, a big LLC will be free to choose either to maintain the shareholders’ register by itself or to engage a licensed registrar (in order to achieve more confidence and safety of data on shareholders).
#mlegal #russia #law #llc