Can One Person Establish an LLC?

Establishing a Russian LLC

According to Russian legislation, individuals, as well as legal entities can establish an LLC, provided the following conditions are met: If the Russian LLC is created by one legal entity, then it must have at least two owners/participants. If the LLC is created by several legal entities, the requirement for the minimum number of owners of the founding legal entities does not apply.

Necessary Documents for Creating an LLC

Necessary documents when creating an LLC, when one of the founders is a foreign company: Extract from the trade register for each founder – legal entity. The decision of the sole founder or the minutes of the general meeting of founders on the establishment of the LLC.

Forming a Single-Member LLC

In order to form a single member LLC, you need to to the following: File articles of organization with your Secretary of State.

LLC Establishment and Registration

  • A limited liability company acquires legal capacity from the time of its state registration. The legal status of a limited liability company is regulated by the Civil Code and Federal Law “On Limited Liability Companies”.
  • Unlike in Europe, an LLC is considered to be established only when registered by the tax authority in Russian companies’ register. After the registration an LLC is attributed with two identification numbers – “OGRN” and “INN”.

Disadvantages of a Single-Member LLC

What are the disadvantages of a single-member LLC?

A limited liability company (LLC) offers some liability protection by separating the business from the owner. An LLC with only one owner is called a Single-member LLC (SMLLC).

LLC Comparison and Tax Considerations

While both types of businesses are limited liability companies and essentially offer the same overall business structure, there are a few areas where the 2 differ. Taxes, in particular, have different requirements. In this article, we’ll compare and contrast these 2 business structure types, so you can better decide which is right for you.

Single-Member LLC Overview

A Single-Member LLC, also known as an SMLLC, is a popular business structure for entrepreneurs looking for liability protection and tax benefits while maintaining simplicity in ownership and management.

Starting a Single-Member LLC

The benefits of forming a single member LLC make it an appealing option for many startups. However, entrepreneurs should make sure that the structure suits their needs and circumstances. Here are some things companies have to consider before proceeding with the registration process: Does the company’s business activities create personal risks?

LLC Formation Guidance

In this guide, we’ll walk you through how to start an LLC in just seven simple steps. You’ll learn about the pros and cons of LLCs and how to set up an LLC…

Single-Member LLC Business Application

Single-member LLCs are great to start within many businesses, such as a new rental property. As you increase your number of rentals and expand into other states, you can set up a multi-member LLC very easily. Although there is some additional paperwork, LLCs are less formal that incorporation. Most states require LLCs to file annual reports, unlike sole proprietorships.

Leave a Comment