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Company Law

Article 23

The following conditions shall be fulfilled for the establishment of a limited liability company:

(I) the number of shareholders conforms to the statutory number;

(II) the capital contribution subscribed by subscribed by all shareholders is consistent with that prescribed in the articles of association;

(III) the shareholders have jointly formulated the company's articles of association;

(IV) the company has a name and an organizational structure established in conformity with the requirements for limited liability companies; and

(V) the company has a domicile.

Article 24

A limited liability company shall be invested in and established by no more than 50 shareholders.

Article 25

The articles of association of limited liability companies shall specify the following particulars:

(I) the name and domicile of the company;

(II) the business scope of the company;

(III) the registered capital of the company;

(IV) the names and domiciles of the shareholders;

(V) the method, amount and time of capital contribution by the shareholders;

(VI) the organization of the company and its methods of establishment, functions and powers, and rules of procedure;

(VII) the legal representative of the company; and

(VIII) other matters that the shareholders deem necessary to be specified.

Shareholders shall sign and affix their seals on the company’s articles of association.

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