When it comes to observing the rules of the Company Law in Russia, investors must be aware of the Companies Act 1995 and Companies Act 1998. These are the main rules that a company has to obey in Russia. Some changes have been brought to the Company Act in Russia in order to make it more accurate and to keep it updated.
A foreign investor who comes to Russia in order to set up a company must know the rules stipulated in the Company Act in Russia for all companies in order to make a choice. He has to make up his mind regarding the type of company that is best suited for his interests and for the commercial activity he intends to perform.
According to the Civil Code of the Russian Federation, the most popular companies among foreign investors are limited liability companies and joint stock companies. Company Act in Russia also mentions general and limited partnerships. All companies that are set up in Russia must not break the Russian law, both in activity and in registration procedures.
The Labour Law in Russia goes hand in hand with the Company Act in Russia and it is the second most important for foreign investors. Labour Law falls under the regulations of the Labour Code in the Russian Federation from 2006. Both responsibilities and obligations of the employer and the employee are mentioned in the Employment Law in Russia.
According to Russian legislation, the relationship between an employer and an employee is stated in an employment contract that has to be signed by both parties. The labour legislation in Russia takes care of a wide range of aspects, from working hours and discrimination to data protection, work conditions and security.
For more details about the Company Act in Russia, you may contact our company formation agents.