Limited liability company, referred to as limited company for short, is a limited liability company registered in China according to the Regulations of the People's Republic of China on the Administration of Company Registration, with less than 50 shareholders contributing, and each shareholder shall bear limited liability to the company to the extent of the capital contribution subscribed.
A company as a legal person is an economic organization that takes full responsibility for the company's debts with all its assets. Limited liability companies include wholly state-owned companies and other limited liability companies.
The establishment of a company shall apply for pre-approval of its name. Where laws, administrative regulations or the State Council decisions stipulate that the establishment of a company must be approved, or the business scope of the company belongs to matters that must be approved before registration according to laws, administrative regulations or the State Council decisions, the company name shall be pre-approved before being submitted for examination and approval, and the company name approved by the company registration authority shall be submitted.
Extended data:
An application for pre-approval of the company name signed by all shareholders of a limited liability company or all promoters of a joint stock limited company, and a capital verification certificate issued by a legally established capital verification institution, except as otherwise provided by laws and administrative regulations; If the shareholder's initial capital contribution is non-monetary property, he shall submit the certificate that the property right transfer formalities have been completed at the time of company establishment registration.
The shareholders' meeting of a limited liability company is composed of all shareholders. The shareholders' meeting is the authority of the company and exercises its functions and powers in accordance with the Company Law. Shareholders' resolutions on the increase or decrease of registered capital, division, merger, dissolution or change of corporate form of the company must be passed by shareholders representing more than two thirds of the voting rights.
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