This is a company whose capital is divided into shares and which consists of at least seven associates called “shareholders”. it must have a minimum capital of 37,000 euros, knowing is an obligation to shareholders to release at least half the contributions in cash upon incorporation, the balance will be released within five years after the registration of the company. the shareholders in general meeting at least once a year, have the power of decision, they are liable for the debts of the company in the extent of their contributions. tax purposes, the company is subject to corporation tax. Limited liability company with board of directors on the board of directors includes at least three members and no more than eighteen persons or entities, to have the status of all shareholders, directors are appointed by the community of shareholders for a period not exceeding six years, they can be removed at any time by the general meeting of shareholders, their mandate is renewable. the board of directors determines the direction of the business of the company and oversees their implementation, it can deal with any matter affecting the proper functioning of society soon as it enters the object and that it does not fall under the jurisdiction of the collectivity of shareholders the Board has specific powers, such as in particular the convening of meetings, preparation of annual accounts and the appointment and dismissal of the chairman of the board of directors and managers General. company with a management board and supervisory management of limited companies may also be dualistic: a directory, consisting of members can be chosen from outside shareholders is responsible for the management of the company, while a board of directors appoints surveilllance management and control of the board.

same person can not both be a member of the Executive Board and Supervisory Board. the Executive Management Board comprises a maximum of five members, individuals must not be shareholders, appointed by the Supervisory Board for a term in the statutes and between two and six years. the Executive Board is vested with extensive powers to act in all circumstances on behalf of the company. appointed by the Supervisory Board, Chief Executive represents the company in its dealings with third parties. accuracy: when the capital is less than 150,000 euros, the Executive may have only one person who takes the title of “General <directeur unique>>.

the Supervisory Board the Supervisory Board is a collegial body composed of at least three members and eighteen at most, individuals or legal persons, to all shareholders have the quality. they are appointed by the shareholders for a period not exceeding six years. the supervisory board shall appoint from among its members a president and vice president. members of the supervisory board must hold a minimum number of shares specified in the articles. The supervisory board exercises permanent control over the management of the company. at any time of year, it operates the checks and controls it deems appropriate. precision: the company may change its mode of organization (spending a dualist-executive supervisory board structure with a board of directors, and vice versa) by decision of the extraordinary general meeting of shareholders.