什么是股權(quán)架構(gòu)設(shè)計(jì)的主體架構(gòu)內(nèi)容？主體架構(gòu)模型一般有6種，下面
山東股權(quán)公司分別展開(kāi)了解這6種基本架構(gòu)內(nèi)容。
What is the main structure content of equity structure design? There are generally six types of main structure models. Below, Shandong Equity Company will explore the six basic structure contents.
一、有限合伙架構(gòu)
1、 Limited Partnership Structure
這種架構(gòu)模型，股東并不直接持有核心公司股權(quán)，而是通過(guò)有限合伙間接持有。創(chuàng)始人公司一般可以為家族企業(yè)，控股公司可以是創(chuàng)始人的作為對(duì)外投資的投資公司，以有限責(zé)任公司主體形式比較好。
In this structural model, shareholders do not directly hold equity in the core company, but indirectly through limited partnerships. Founder companies can generally be family owned enterprises, while holding companies can be founders' investment companies as external investments, preferably in the form of limited liability companies.
有限合伙架構(gòu)的適用情形
Application of limited partnership structure
1、錢(qián)權(quán)分離度高的創(chuàng)始人股東。比如互聯(lián)網(wǎng)企業(yè)，屬于資金密集型企業(yè)，VC/PE會(huì)在發(fā)展過(guò)程中起到非常重要的作用。隨著資本不斷加入，創(chuàng)始人股東及其團(tuán)隊(duì)的持股比例會(huì)慢慢地被稀釋得很低。為了控制權(quán)的需要，就會(huì)采取有限合伙企業(yè)的架構(gòu)。
1. Founder shareholders with high separation of money and power. For example, Internet companies are capital intensive enterprises, and VC/PE will play a very important role in the development process. As capital continues to be added, the shareholding ratio of founder shareholders and their teams will gradually be diluted to a very low level. In order to meet the need for control, a limited partnership structure will be adopted.
2、有短期套現(xiàn)圖的財(cái)務(wù)投資人。
2. Financial investors with a short-term cash flow chart.
3、員工持股平臺(tái)。方便股權(quán)激勵(lì)管理，提高企業(yè)決策效力，大股東能獲得更多的控制權(quán)。
3. Employee stock ownership platform. Facilitate equity incentive management, improve the effectiveness of corporate decision-making, and enable major shareholders to gain more control.
二、自然人直接架構(gòu)
2、 Direct structure of natural person
這種架構(gòu)很好理解，就是自然人股東直接持股核心公司股權(quán)。自然人直接架構(gòu)的適用情形：
This structure is easy to understand, which means that natural person shareholders directly hold equity in core companies. Applicable situations of the direct structure of natural persons:
（1）規(guī)劃上市后售股套現(xiàn)的財(cái)務(wù)投資人。可以通過(guò)證券交易賬戶(hù)便于操作，進(jìn)而降低稅負(fù)。
(1) Financial investors who plan to sell shares and cash out after listing. It can be easily operated through securities trading accounts, thereby reducing tax burden.
（2）創(chuàng)業(yè)期的創(chuàng)始人股東。創(chuàng)業(yè)期不穩(wěn)定因素較多，股權(quán)結(jié)構(gòu)不宜設(shè)計(jì)得過(guò)于復(fù)雜，以便于后期進(jìn)行調(diào)整。
(2) Founder shareholders during the startup period. There are many unstable factors during the startup period, and the equity structure should not be designed too complex to facilitate adjustment in the later stage.
三、控股公司架構(gòu)
3、 Holding company structure
不同的業(yè)務(wù)版塊，涉及的行業(yè)征管是不一樣的?？毓晒炯軜?gòu)的適用情形：
Different business segments involve different industries in tax collection and management. Applicability of the holding company structure:
（1）規(guī)劃長(zhǎng)期持股的實(shí)業(yè)家；
(1) Industrialists planning long-term shareholding;
（2）有多個(gè)業(yè)務(wù)版塊的多元化企業(yè)集團(tuán)；
(2) Diversified enterprise groups with multiple business segments;
（3）作為大股東的家族持股平臺(tái)；
(3) A family shareholding platform as a major shareholder;
（4）已進(jìn)入成熟期，但沒(méi)有上市規(guī)劃，打算家族傳承的實(shí)業(yè)家。
(4) An industrialist who has entered a mature stage but has no listing plan and intends to inherit from his family.
四、混合股權(quán)構(gòu)
4、 Mixed equity structure
在實(shí)踐中，每個(gè)股東的訴求可能會(huì)有所不同，混合股權(quán)架構(gòu)的優(yōu)點(diǎn)是可以根據(jù)股東持股目的，量體裁衣選擇合適的架構(gòu)，更有針對(duì)性。但該架構(gòu)的難度在于預(yù)判公司的資本戰(zhàn)略?；旌瞎蓹?quán)架構(gòu)適用于有明確境內(nèi)上市規(guī)劃的公司。
In practice, the demands of each shareholder may vary. The advantage of a hybrid equity structure is that it can be tailored to the purpose of shareholders' shareholding, making it more targeted. However, the difficulty of this structure lies in anticipating the company's capital strategy. The hybrid equity structure is applicable to companies with clear domestic listing plans.
五、海外股權(quán)架構(gòu)
5、 Overseas equity structure
海外股權(quán)架構(gòu)是指境內(nèi)個(gè)人或公司在境外搭建離岸公司，通過(guò)離岸公司來(lái)控制境內(nèi)或者境外業(yè)務(wù)的架構(gòu)。搭建海外股權(quán)架構(gòu)一般有以下幾種目的：為了境外上市；便于海外資本運(yùn)作比如融資、并購(gòu)等；為了享受某些地區(qū)對(duì)外資企業(yè)的招商引資政策；便利海外資產(chǎn)配置的財(cái)富管理；利用海外架構(gòu)避稅；為了開(kāi)拓境外市場(chǎng)，拓展境外業(yè)務(wù)。
Overseas equity structure refers to the structure in which domestic individuals or companies establish offshore companies overseas to control domestic or overseas businesses in China through offshore companies. Generally, there are several purposes for establishing an overseas equity structure: for overseas listing; Facilitate overseas capital operations such as financing, mergers, and acquisitions; In order to enjoy the investment promotion policies for foreign-funded enterprises in certain regions; Wealth management that facilitates overseas asset allocation; Using overseas structures for tax avoidance; In order to explore overseas markets and expand overseas business.
六、契約型架構(gòu)
6、 Contractual architecture
契約型架構(gòu)是指投資人通過(guò)資產(chǎn)管理計(jì)劃、信托計(jì)劃、契約型私募基金等契約型組織間接持有實(shí)業(yè)公司的股權(quán)架構(gòu)。由于資管計(jì)劃、信托計(jì)劃、契約型基金均沒(méi)有工商登記的企業(yè)實(shí)體，是依據(jù)《中華人民共和國(guó)證券投資基金法》《中華人民共和國(guó)信托法》《私募證券投資基金管理暫行辦法》等法規(guī)，通過(guò)一系列合同組織起來(lái)的代理投資行為，投資者的權(quán)利主要體現(xiàn)在合同條款上，而合同條款的主要方面通常由基金法律所規(guī)范，因此，我們將投資人通過(guò)資管計(jì)劃、信托計(jì)劃等間接持有被投資公司的架構(gòu)稱(chēng)為契約型架構(gòu)。
Contractual structure refers to the equity structure in which investors indirectly hold industrial companies through contractual organizations such as asset management plans, trust plans, and contractual private equity funds. Due to the fact that asset management plans, trust plans, and contractual funds are not registered with the industry and commerce, they are agency investment activities organized through a series of contracts in accordance with regulations such as the Securities Investment Fund Law of the People's Republic of China, the Trust Law of the People's Republic of China, and the Interim Measures for the Management of Private Securities Investment Funds. The rights of investors are mainly reflected in the terms of the contract, The main aspects of contract terms are usually regulated by fund laws. Therefore, we refer to the structure where investors indirectly hold invested companies through asset management plans, trust plans, etc. as a contractual structure.
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