Equity crowdfunding refers to the establishment of a joint stock limited company by offering, and the shares subscribed by the promoters shall not be less than 35% of the total shares of the company. And to offer shares to the public, the prospectus must be announced and a subscription form must be made.

Legal Basis

Article 84 of the Company Law of the People's Republic of China

Where a joint stock limited company is established by offering, the shares subscribed by the promoters shall not be less than 35% of the total shares of the company; However, if there are other provisions in laws and administrative regulations, those provisions shall prevail.

Article 85

When the promoters offer shares to the public, they must announce the prospectus and make a subscription form. The subscription letter shall specify the matters listed in Article 86 of this Law, and the subscriber shall fill in the number, amount and domicile of the subscribed shares, and sign and seal them. The subscriber shall pay the subscription fee according to the number of subscribed shares.

article 92

the board of directors shall submit the following documents to the company registration authority within 3 days after the founding meeting, and apply for registration of establishment:

(1) an application for company registration;

(2) minutes of the founding meeting;

(3) Articles of Association;

(4) capital verification certificate;

(5) the employment documents of the legal representative, directors and supervisors and their identity certificates;

(6) the legal person qualification certificate or natural person identity certificate of the promoters;

(7) proof of the company's domicile.