Amendments are planned for a number of laws, including the Civil and Arbitration Codes, the Labor Code, the Securities Market Act, the Companies Act, the Limited Liability Companies Act.

Currently, every company is obliged to have a ‘round stamp’ with full name and address. If the bill passes, companies will retain the possibility to use ‘round stamps’.

The ‘round stamp’ has become an outdated concept, and can be replaced with up-to-date identification methods, such as e-signature, special blanks or hologram stamps, states the bill memo.

The bill authors expect it to cut business costs for round stamps as well as get Russia better marks for Company Registration in Doing Business, the rating used by the Russian government to gauge the effectiveness of business climate improvement efforts.

If the bill passes, it will be enacted on the day of publishing.

Project Group №1, Project Group №2