The bill “National company” for LLC, ALC, Joint-stock companies is considered in Duma

14.01.2014

Russian State Duma reviews a bill related to obtaining legal status of national company by the following businesses: limited liability companies, additional liability company, and joint - stock company. The article 3 of the bill “Legal status of “national company” includes requirements a company shall meet to obtain the desired status. Among them are the following requirements: business activity on territory of Russia; entry of the company in the Unified State Register of Legal Entities during 5 years; pay at least 100 million rubles as taxes to consolidated budget annually.

The status of national company allows LLC, ALC and joint-stock companies to obtain state financial, consulting, property aid. Also taxation of national companies may consider special tax regimes, promotional rates, offsets and even tax exemption for a specific period.

As for business activities which are prohibited by the bill they include all activities which are inconsistent with state defense.

Based on: http://asozd2c.duma.gov.ru/addwork/scans.nsf/ID/0319DEAEC64D888F43257C5F004E44B8/$FILE/427381-6.PDF?OpenElement

Expert’s opinion

The bill aims to solve the problem of redistribution in mining development field of Russia.

Also the bill aims to concentrate mining development in hands of Russian residents with no access to the market for foreign agents

Yaroslav Lomakin ( Managing partner of Honest & Bright” company)