What is an LLC?

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What is an LLC?

In modern economic conditions,exist different forms of ownership. One of the most common of these is LLC. This is the type of property that most Russian businessmen prefer to use.

What is LLC: characteristics

The abbreviation of LLC stands for: limited liability company. It can be represented by a firm, enterprise or organization. Such an economic company can be created by one or several natural or legal persons.

The main characteristic of LLC - division into partsof the authorized capital of the company, therefore all its participants are simultaneously considered its founders. They, according to the current legislation, are responsible for the activities of the LLC and the risks of financial losses that may arise during the financial and economic activities of the organization, however, only within its shares in the share capital. At the same time, the founders themselves do not answer for the obligations that have arisen from LLC.

Another feature of this economicsociety - minimum restrictions on the size of the authorized capital. Its value should be at least 10 000 rubles. In this case, the founders can use cash and non-cash funds, securities, as well as movable and immovable property for its formation.

The next characteristic of the LLC is the restriction onnumber of founders. Their number should not exceed 50 people. If, in the course of economic activity, some more founders are required for some reason, then, according to the current legislation, it will be necessary to reorganize the company into an open joint-stock company within a year.

Types of activity of LLC

A limited liability company mayengage in any activities other than those prohibited by law and for which no license is required. The chosen types of activity are necessarily registered in the statutory documents of the LLC, only after that they are subject to registration in state bodies on the basis of an application written in accordance with the established pattern.

Management and Control LLC

The structure of a limited liability company should look like this:

The supreme management body is the general meeting of the participants (it solves the most important issues in its competence);
The executive body of management is the general director or the president (the head who solves current issues and acts as the leading person in the organization).

These bodies are the main and mandatory, but the founders can be further organized by the audit commission. She is endowed with the following duties and rights:

conduct regular audits of the financial and economic activities of the organization;
have access to the documentation of the LLC;
check balance sheets and annual reports.

Features of LLC

The limited liability company has a number of peculiarities, among which are the following:

Founders can leave the company at any time, forThey do not need the consent of the other participants. In this case, they must pay him the cost of his share within 6 months. This means that every founder of an LLC has a real opportunity to return the invested funds when creating an organization if its financial activity is successful.
In a limited liability company, you can accept new participants with a mandatory share in the authorized capital. After that they are registered in the constituent documents.
The founders of the LLC have the right to amend the charter of the organization. They can also increase the amount of seed capital to the required size at their discretion.

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