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LIMITED LIABILITY COMPANY

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LLC stands as a separate legal entity with a fixed capital divided into participatory interests, established by individuals or legal entities termed as “Participants”. LLC formation allows for involvement by one or more individuals and/or legal entities, excluding the participation of single-party commercial entities, all of whom contribute assets to the charter capital. Also, an LLC can be established with full foreign ownership, independent of the need for a local partner.

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Participants bear no responsibility for the LLC’s debts; they are only obligated to pay the capital interests they have committed to and fulfill any additional payment or performance obligations outlined in the LLC’s charter. LLC does not issue shares: instead, ownership interests in LLC can be readily transferred to third parties.

 

As of now, LLC is not bound by a specific minimum charter capital requirement, although it is generally presumed that the charter capital should be enough to meet creditor claims. The charter capital may be paid by the Participants within three months following relevant state registration of an LLC.