According to the relevant regulations of shareholders of a limited company, a limited liability company should not have too many shareholders because of its certain humanity and trust among shareholders.
Legal basis: People's Republic of China (PRC) Company Law.
Article 23 Conditions for the establishment of a limited liability company The establishment of a limited liability company shall meet the following conditions:
(1) Shareholders meet the quorum.
(2) The capital contribution subscribed by all shareholders in accordance with the Articles of Association.
(3) Shareholders * * * agree to formulate the Articles of Association.
(4) Having a company name and establishing an organization meeting the requirements of a limited liability company.
(5) Having a company domicile.
Article 24 The number of shareholders of a limited liability company shall be established by capital contribution of less than 50 shareholders.
Article 25 Contents of the Articles of Association The articles of association of a limited liability company shall specify the following items:
(1) Name and domicile of the company
(II) Business scope of the company
(3) The registered capital of the company
(4) Names of shareholders.
(5) The mode, amount and time of contribution by shareholders.