A new edition of the Law “On Limited Liability Companies” has been adopted

According to the report of the press service of the Ministry of Justice, the Law “On Limited Liability Companies” in a new edition (No. PZ–1137 dated April 21, 2026) has been adopted.

The Law introduces a modern corporate governance system into the activities of limited liability companies, eliminates existing legal gaps in the sector, and further strengthens the legal guarantees for company participants.

The Law consists of 71 articles and will enter into force three months after its official publication.

During the drafting process, opinions of domestic and international experts, public proposals, and best foreign practices were taken into account.

The Law provides for several key innovations:

1) The powers of the supervisory board and the procedure for electing its members are defined, which is aimed at preventing potential disputes in the future.

2) A clear procedure is established for decision-making by the supervisory board through absentee voting (polling).

3) One of the important innovations is the introduction of fiduciary duties for members of the supervisory board, as well as for sole and collegial executive bodies, in line with international corporate governance practices.

4) The Law stipulates that companies may engage in activities not only based on licenses but also on other permitting documents or through a notification procedure, thereby expanding the range of permissible activities.

5) Separate provisions regulate the procedures for establishing branches and representative offices, as well as subsidiary and affiliated business entities, which were not previously covered in the existing legislation.