Russian limited liability companies are required to hold an annual meeting of shareholders within March 1 – April 30, 2021.
A company shall in advance inform its shareholders on the upcoming meeting.
Annual meeting of shareholders shall approve annual results of the company’s activities (annual report and annual financial statement). The decision on approval shall be formalized via the minutes of the general meeting or a decision of the sole shareholder.
Failure to comply with the requirements provided above may entail an administrative fine of 500 000 – 700 000 rubles (EUR 6 000 – 8 000). A general director may be banned to hold management positions for the period of up to one year.
Normally, annual meetings require the personal presence of shareholders. However, considering the situation with COVID, it is expected that in 2021 companies could be allowed to have an annual meeting via an absent voting or online.
We will be glad to provide you with more detailed information, as well as assist in preparation of all necessary documents.