Only one shareholder is needed to register a one-person limited liability company, and the debt liability of this shareholder is limited to the amount of its capital contribution. When a limited liability company with two or more persons is established, the number of shareholders must be two or more, and the debt liability of each shareholder is also limited to the amount of capital contribution. One-person limited liability company consists of executive director, general manager and supervisor, without board of directors and board of supervisors. If it is a multi-person limited liability company, the board of directors shall not be less than three, and similarly, the board of supervisors shall not be less than three.
Organizational form and requirements of the company:
1. Limited by Share Ltd: 2 or more promoters but 200 or less are required, and the promoters may be natural persons or legal persons;
2. Limited liability company: usually it needs 2 to 50 shareholders, or it can be a one-person limited liability company;
3. Partnership: At least 2 partners are required, and the partners can be natural persons, legal persons or other organizations;
4. Sole proprietorship: only 1 investor is needed, and investors are required to bear unlimited liability;
5. Foreign-invested enterprises: Depending on the form of investment, one or more foreign investors may be needed.
To sum up, whether it is a one-person limited liability company or a multi-person limited liability company, the debt liability of shareholders is limited to their capital contribution, but in terms of governance structure, a one-person company does not have a board of directors and a board of supervisors, while a multi-person company requires that the board of directors and the board of supervisors have at least three members.
Legal basis:
Company Law of the People's Republic of China
Article 24
A limited liability company shall be established by capital contribution of shareholders with less than 50 persons.