The Federation Council passed a legislative package concerning registration of legal entities in the Crimea

On October 29th the Federation Council passed amendments to legislation concerning rules of legal entities’ registration in the Crimea and Sevastopol. According to the approved changes, the executive bodies of these regions can regulate the registration of legal entities till January 1st, 2015 by themselves.

It bears reminding that the Crimea and Sevastopol were under the Ukrainian legislation till March of the current year. Many problems concerning registration and reregistration of legal entities have arisen after annexation of these regions by the Russian Federation.

With respect to the law, aspects of registration and reregistration of companies registered within the republic of the Crimea and the city with the federal status Sevastopol will be regulated by the normative legal acts of these regions till January 1 st, 2015. Moreover, the senators made amendments that lift restrictions on reregistration of legal entities with public-law participation in accordance with the legislation of Russian Federation.

Nowadays, this prohibition extends to reregistration of legal entities whose standing executive body was located within the Crimea at the day of annexation of the republic by the RF and which property is in ownership of public-law body (state body) or legal entities with a state body as a member. It is expected that the normative legal acts of the Crimea and Sevastopol may be administered with reference to the companies before making a record in the EGRUL (Unified State Register of Legal Entities).

It is to be recalled that the President of Russia has earlier signed a law concerning integration of the Crimean legal entities into the Russian legal system. According to the passed law, the Crimean companies will start carrying out their activity in compliance with the Russian legislation immediately after making of a corresponding record in the EGRUL.