1. A joint stock limited company with a maximum of two or more shareholders and less than 200 shareholders is the promoter, and more than half of the promoters must have a domicile in China. A limited liability company shall be established by capital contribution of less than 50 shareholders. The promoters shall sign a promoter agreement to clarify their respective rights and obligations during the establishment of the company.
2. Legal basis: Article 78 of People's Republic of China (PRC) Company Law.
The establishment of a joint stock limited company shall have two or more promoters, of whom more than half of the promoters shall have their domicile in China.
Two. What are the conditions for establishing a joint stock limited company?
The establishment of a joint stock limited company shall meet the following conditions:
1. The promoters meet the quorum;
2. The total amount of capital subscribed by all promoters or the total amount of paid-in capital raised in accordance with the articles of association;
3. The issuance and preparation of shares are in compliance with the law;
4. The promoters shall formulate the articles of association of the company, and the establishment by offering shall be approved by the founding meeting;
5. Having a company name and establishing an organization meeting the requirements of a joint stock limited company;
6. Have a company residence.
Where a joint stock limited company is established by means of sponsorship, the promoters shall subscribe for the shares specified in the articles of association in full in writing and pay their capital contributions in accordance with the provisions of the articles of association.