2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
This form of activity for Russian entrepreneurs is quite common. However, a closed joint stock company (CJSC) is less popular than an LLC.
In addition to legal, there are also economic differences. Based on the current current legislation, closed joint-stock companies require more effort in legal support than LLC. This fact, accordingly, leads to an increase in financial costs. This is due to the fact that closed joint stock companies have a register of shareholders and are required to keep it. Also, these enterprises need to register the issue of shares, and any shareholder can only sell their shares.
The company forms the authorized capital based on the nominal value of itsshares purchased by shareholders. Closed joint-stock companies of Moscow must provide an authorized capital in the amount of 10 thousand rubles (minimum), which is contributed both in the form of cash by opening a savings account in a bank, and by contributing some property or property rights that have a certain monetary value. Any of the above forms of payment for shares must be determined by the relevant agreement when creating the company. The charter of a company may stipulate restrictions on certain types of property used in the form of payment for shares. At the same time, it is necessary to remember the need to assess the property contributed in non-monetary form to the authorized capital. Such an assessment is carried out by a specialist - an independent appraiser.
Closed joint-stock companies are created to obtain the maximum amount of profit. To do this, they are allowed by the current legislation to engage in the types of activities specified in this very legislation. However, some activities require special permits (patents or licenses). The period of functioning of the company has no restrictions, unless otherwise stipulated in the Charter.
Closed joint stock companies have a supreme governing body known as the General Assembly. Its exclusive competence is regulated by the relevant Law of the Russian Federation. At the same time, this General Meeting cannot consider and make decisions on those issues that do not fall within its competence.
Current activities of the enterprise managementcarries out an executive body, which is represented both as a sole and as a collegial one (for example, one person - the General Director in the first case or the board of directors - in the second). At the same time, any executive body is accountable to the General Meeting.
In order to control the financial and economic activities of the company, the general meeting should form an audit commission of the CJSC, whose members cannot simultaneously hold other positions in the management bodies of the enterprise or be members of the Board of Directors. Those shares that belong to representatives of the Board of Directors cannot take part in the election of members of this audit commission.
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