1. What is a WOFE's Director/Board of Directors?

Executive Director or Board of Directors is the decision-making organization of a WOFE or company. Executive Director or Member of the Board is appointed, sometimes elected, by the shareholder or board of shareholders.
Usually, a WOFE is just invested by one shareholder, in such case, one Executive Director is adequate. And the Executive Director can also be the Legal Representative of the WOFE.
However, if the WOFE expands into certain scale, when one Executive Director cannot deal with all business, or a WOFE was invested by multiple foreign shareholders, a Board of Directors is necessary to be set up. A Board of Directors should consist of at least 3 individuals, one of which should be the president, some other member can be vice president, and the rest just be the Member of the Board. Anyone from the Board of Directors can be the legal representative of the WOFE, or appoint some other individual as the legal representative.
 
2. Rights and Obligations of Director/Board of Directors:
Executive Director or Member of the Board is responsible for daily operation and management of the WOFE company. Director is appointed by the shareholder or board of shareholders, so director should act in capacity of the power vested by the shareholder or board of shareholders.
Director is responsible to the shareholder or board of shareholders, so director should not do anything that harms the interests of the WOFE company. Director should abide by the laws and regulations of China and the articles of the WOFE.
 
3. What is a WOFE's Supervisor/Board of Supervisors?
Supervisor or Board of Supervisors is the supervising organization of a WOFE or company. Supervisor or Board of Supervisors is appointed, sometimes elected, by the shareholder or board of shareholders.
Usually, one Supervisor is adequate. However, if a WOFE was invested by multiple foreign shareholders, and the WOFE set up a Board of Directors, a Board of Supervisors is necessary to be set up. A Board of Supervisors should consist of at least 3 individuals, one of which could be the president, some other member can be vice president, and the rest just be the Member of the Board. A supervisor mustn’t be the legal representative or director or manager of any kind.
 
4. Rights and Obligations of Supervisor/Board of Supervisors:
Since supervisor does the supervising job. A supervisor can:
(1). Check WOFE company finance;
(2). Supervise director’s business act and report to the shareholder or board of shareholders;
(3). Correct director’s mistakes;
(4). Put forward proposals to the shareholder or board of shareholders to dismiss the directors who violated the laws and regulations and articles.
 
Supervisor is responsible to the shareholder or board of shareholders, so supervisor should not do anything that harms the interests of the WOFE company. Supervisor should abide by the laws and regulations of China and the articles of the WOFE.
 
5. How to appoint a WOFE's Directors & Supervisors?
Since Directors & Supervisors are all appointed, sometimes elected, by the shareholder or board of shareholders. The shareholder, if is an individual, can be a director or supervisor. Or appoint some other person to be director or supervisor.
 
6. How to change a WOFE's Directors & Supervisors?
To change a WOFE's Directors & Supervisors, the shareholder or the board of shareholders should sign a resolution and find a qualified agency such as WOFEChina.com to submit legal documents to relevant departments.
 
For detailed information, please contact our consultant: leo@wofechina.com.

WOFEChina.com has successfully helped investors from more than 50 countries (regions) all over the world registered Wholly Owned Foreign Enterprises (WOFE), Joint Ventures (JV), Shanghai Representative Offices(RO), and provide one-stop business solution, including Trademark Registration, Bookkeeping, etc. We have a very skilled consultant team, a set of efficient operation system. We provide high-quality customized services with reasonable price and accurate information, that’s what makes us different.

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