WHO ARE FOUNDING SHAREHOLDERS?
FOUNDING SHAREHOLDERS ARE SHAREHOLDERS WHO OWN AT LEAST ONE COMMON SHARE AND SIGN IN THE LIST OF FOUNDING SHAREHOLDERS OF A SHAREHOLDING COMPANY
• Newly established shareholding companies must have at least 3 founding shareholders; shareholding companies which are transferred from state-owned enterprises or limited liabilities companies or divided, separated, merged or consolidated from another shareholding company do not need to have a founding shareholder.
• Founding shareholders must together register to buy at least 20% of the total common shares at the time of conducting business registration.
• Within 3 years from the date of granting BRC, founding shareholders have the right to transfer their shares to others who are not founding shareholders with the consent of the General Assembly of Shareholders. In this case, the shareholders transferring shares do not have the right to vote for transferring such shares.