What is a limited liability company?

A limited liability company is an enterprise legal person whose shareholders are liable to the company to the extent of their capital contribution, and the company is liable to the company's debts with all its assets. The establishment conditions are as follows:

1. Generally, the number of legal shareholders must be less than 50. Under special circumstances, state-authorized investment institutions or state-authorized departments may establish wholly state-owned limited liability companies;

2. Shareholders' capital contribution reaches the minimum statutory capital;

3. The company's articles of association shall include the company's name and domicile, business scope, registered capital, names and titles of shareholders, rights and obligations of shareholders, ways and amounts of shareholders' capital contribution, conditions for shareholders to transfer their capital contribution, the company's organizational structure, methods of formation, powers and rules of procedure, legal representative, methods of dissolution and liquidation of the company, etc.

As an independent enterprise legal person, a company must have its own name. The company must also comply with the provisions of laws and regulations when establishing its name. The organization of a limited liability company refers to the shareholders' meeting, the board of directors or executive directors, the board of supervisors or supervisors;

5. Having a fixed production and business operation place and necessary production and business operation conditions.

Legal basis: Article 23 of the Company Law of People's Republic of China (PRC).

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.