SHAREHOLDERS
WFOE requires one shareholder/member, whose details are registered in the local Administration for Industry and Commerce. The director can be of any nationality, except Chinese, and meetings can take place anywhere.
DIRECTOR/BOARD OF DIRECTORS
A minimum of one director is required, whose details must be registered in the local Administration of Industry and Commerce. The sole director is the executive director or managing director, who can be of any nationality and reside anywhere. Corporate director is not allowed.
There are no requirements to hold meetings within China.
If the director decides to set up a board of directors, there is a minimum requirement of three directors and the maximum limit of 13.
LEGAL REPRESENTATIVE
A WFOE is required to appoint a legal representative, whose full details should be registered in the local Administration of Industry and Commerce. A legal representative can be of any nationality and does not have to be a resident of China.
SUPERVISOR/BOARD OF SUPERVISORS
A WFOE is required by Company Law to appoint at least one supervisor, who can be of any nationality and does not have to be a resident of China.