Vietnam
Hong Kong
TaiwanTeam application rules
| Rule | Detail |
|---|---|
| Team size | Up to five applicants with the same business |
| Individual ownership | Each generally holds at least 10% of the voting rights |
| Combined ownership | Applicants plus the designated organisation hold more than 50% |
What is an essential person?
A designated organisation can name members who are essential to the business as "essential persons".
Why it matters
If an essential person’s application is refused or withdrawn, the others’ applications may also be refused. The team’s make-up affects every member.
Points for forming a team
- Know each member’s background, including language, funds and admissibility.
- Agree roles and ownership in a shareholders’ agreement.
- Consider who is named essential, and how strong their application is.
- Agree in advance what happens if someone leaves.
Sole vs team applications
| Sole | Team | |
|---|---|---|
| Depends on others | No | Yes |
| Skills | Must have them all | Can divide by strength |
| Risk | On yourself | Affected by essential persons |
Teams already in process
If a member is thinking of withdrawing, assess the effect on the others first and seek advice promptly.