Important changes to Chapter 4 of the Civil Code, which governs legal entities, will take effect

Posted on Sep 01, 2014

Starting 1 September 2014 important changes to Chapter 4 of the Civil Code, which governs legal entities, will take effect. Russian legal entities are now classified as either corporate entities, which have members (such as shareholders), or unitary entities, which do not. Certain former types of entities will no longer be available, including open stock companies (in Russian, OAO) and closed stock companies (ZAO).