A limited-liability company is a legal entity established by its members through capital contributions to the company. The capital contribution of each member is treated as equity (charter capital). The members of a limited-liability company are liable for the financial obligations of the limited-liability company to the extent of their capital contributions. The management structure of a limited liability company consists of the members’ council, the chairman of the members’ council, the general director and a controller (or board of supervisors where the limited-liability company has more than 10 members). A limited-liability company established by foreign investors may take the form of either:
• a 100% foreign-owned enterprise
(where all members are foreign investors); or
• a foreign-invested joint-venture enterprise between foreign investors and at least one domestic investor. A limited-liability company may not issue securities to raise capital.