1, Limited by Share Ltd is an independent Economic legal;
2. The number of shareholders of a joint stock limited company shall not be less than the number prescribed by law, which stipulates that the number of shareholders shall be at least 7;
3. The shareholders of a joint stock limited company shall bear limited liability for the debts of the company, and the liability limit shall be the number of shares payable by the shareholders;
4. All the capital of a joint stock limited company is divided into equal shares, and funds are raised through public offering. Anyone can become a shareholder of the company after paying the shares, and there is no qualification restriction;
5. The shares of the company can be freely transferred, but they cannot be withdrawn;
6. The company's accounts must be made public, so that investors can know about the company and make choices;
7. The establishment and dissolution of the company have strict legal procedures and complicated procedures.
Legal basis: Article 76 of the Company Law of People's Republic of China (PRC).
The establishment of a joint stock limited company shall meet the following conditions:
(1) The promoters meet the quorum;
(2) It has the total amount of capital subscribed or paid-in by all promoters in accordance with the articles of association;
(3) The issuance and offering of shares comply with the law;
(4) The promoters shall formulate articles of association, which shall be adopted by the founding meeting;
(5) Having a company name and establishing an organization meeting the requirements of a joint stock limited company;
(6) Having a company domicile.
Article 77
The establishment of a joint stock limited company can be initiated or raised.
A promoter refers to a company established by the promoters who subscribe for all the shares that should be issued by the company.
The establishment by public offering means that the promoters subscribe for part of the shares that should be issued by the company and raise the remaining shares to the public or specific objects to establish the company.