所有的自媒体都在告诉你要做防火墙公司,但事实上,现在大部分所谓的防火墙公司,并不能隔离所谓的风险,甚至还会放大风险,这是为什么呢,我们先来看看网上流行的防火墙架构图,

　　All the self media are telling you to become a firewall company, but in fact, most so-called firewall companies nowadays cannot isolate so-called risks and may even amplify them. Why is this? Let's first take a look at the popular firewall architecture diagrams online,

　　这个图是什么意思呢,几个自然人股东想做生意,可能是业务需求或其他什么原因,实际的经营主体的注册资本必须达到500万,但几个股东都没有这么多钱,或者说不想掏这么多钱,借在中间设一个防火墙公司,那这个防火墙公司的注册资本可能就1万块钱,也就是说,这几个股东的出资义务实际也就1万元,那未来如果经营主体发生了债务了,最多上升到防火墙公司,不会穿透到自然人公司,本质上啊,是自然人股东通过股东的有限责任,规避了实际的出资义务,从而规避了潜在的债务风险,我们要知道,这项涉及发挥作用的前提,是建立在注册资本认缴制的基础上,再加上监管部门对于股东出资责任的监管很松,所以这么做以前是可行的。

　　What does this diagram mean? Several natural person shareholders want to do business, possibly due to business needs or other reasons. The actual registered capital of the operating entity must reach 5 million yuan, but none of the shareholders have that much money, or do not want to spend so much money. By setting up a firewall company in the middle, the registered capital of this firewall company may be only 10000 yuan, which means that the actual contribution obligation of these shareholders is only 10000 yuan. In the future, if the operating entity incurs debt, it will at most rise to the firewall company and will not penetrate into the natural person company. Essentially, it is natural person shareholders who evade their actual contribution obligation through the limited liability of shareholders, thereby avoiding potential debt risks. We should know that The prerequisite for this to play a role is based on the registered capital subscription system, In addition, the regulatory authorities have relaxed their supervision of shareholder contribution responsibilities, so this approach was feasible in the past.

　　但是在新公司法出台以后啊,这么做的效果已经大打折扣了,因为新公司法最大的改动,就是强化了股东的出资责任,不单单注册资本要实缴,甚至利用空壳公司来规避自己出资义务的行为,也很有可能被穿透到股东个人,这不是我在危言耸听,在实务中很多法院都已经有了相应的判决,很多老板这个时候就会有疑问,现在创业的风险这么大,如果我不搞防火墙公司,那有什么好的办法规避风险呢,其实风险不是不能规避,那是原有的模式在当下已经失效了,但只要我们能够及时更新,我们的应对方法,还是可以规避相应的风险,所以问题是如何通过合适的股权设计,尽可能减少公司债务对自己的不良影响,那么根据我服务多位企业家的经验,我们可以把风险防范大体上分为三类：

　　But after the introduction of the new company law, the effect of doing so has been greatly reduced, because the biggest change of the new company law is to strengthen the shareholder's capital contribution responsibility. Not only does the registered capital need to be paid in, but even the behavior of using shell companies to avoid their own capital contribution obligations may also be penetrated to individual shareholders. This is not my exaggeration. In practice, many courts have already made corresponding judgments, and many bosses will have doubts at this time. Nowadays, the risks of entrepreneurship are so great. If I don't establish a firewall company, what good laws and regulations are there to avoid risks? In fact, risks cannot be avoided. The original model has already expired, but as long as we can update it in a timely manner, our response methods can still avoid them. The corresponding risks, so the question is how to design appropriate equity, To minimize the negative impact of company debt on oneself, based on my experience serving multiple entrepreneurs, we can roughly divide risk prevention into three categories:

　　第一，不要影响到自己的个人和家庭资产。

　　Firstly, do not affect your personal and family assets.

　　第二，不要影响到公司的核心资产。

　　Secondly, do not affect the company's core assets.

　　第三，不要影响到自己名下的其他公司,那么具体该怎么解决呢：

　　Thirdly, do not affect other companies under your name. So, how can we solve this problem specifically

　　针对第一点,隔绝个人与家庭资产风险的角度,如果你的企业能够做到全部实缴,不存在股东未实缴的情况,那么其实自然人直接持股没有问题,因为不管是自然人股东,还是公司股东都承担的有限责任,甚至自然人直接持股的话,未来在接受分红和转让股权的时候,在税负上更有优势,而如果你的经营主体的注册资本确实很大,同时短时间内也无法完成实缴,那么也可以在中间搭建一个防火墙公司,但是请注意，我们搭建的这个防火墙公司,千万不能和经营主体出现人格混同,这什么意思呢,就这两家公司的资金,人员和业务不能混在一起,一定要各自独立,否则的话,我们的法院可能会直接穿透防火墙公司,将债务追溯到自然人股东的头上,那么这个防火墙也就彻底失效了,此外，你也可以对公司做一些海外布局,像什么海外持股架构啊、 VIE 持股架构啊,包括信托持股架构都是可以考虑的,这里就不展开说了。

　　Regarding the first point, from the perspective of isolating personal and family asset risks, if your enterprise can achieve full payment and there is no situation where shareholders have not paid in, then there is actually no problem for natural persons to directly hold shares, because both natural person shareholders and company shareholders bear limited liability. Even if natural persons directly hold shares, they will have an advantage in tax burden when receiving dividends and transferring equity in the future. If your operating entity has a large registered capital and cannot complete the payment in a short period of time, you can also build a firewall company in the middle. However, please note that the firewall company we have built must not have personality confusion with the operating entity. What does this mean? Just the funds, personnel, and... Businesses cannot be mixed together, they must be independent, otherwise, Our court may directly penetrate the firewall company and trace the debt back to natural person shareholders, which will completely render the firewall ineffective. In addition, you can also make some overseas layouts for the company, such as overseas shareholding structures, VIE shareholding structures, including trust shareholding structures, which can be considered. We won't go into detail here.

　　那么针对第二点,要想不影响公司的核心资产,或者说隔离对公司核心资产的风险,我们该怎么做,很多老板把所有的鸡蛋都放在一个篮子里,公司又负责签合同、跑业务业,持有厂房、土地、专利,一旦发生合同纠纷或安全事故,核心资产会被拍卖抵债,那么多年的经营就此毁于一旦,那么我们可以把资产和经营切割开来,把不动产、专利、设备等核心资产放入资产公司里,资产公司不招人、不对外签业务合同,只做一件事情,就是把资产租赁或授权给经营公司,而经营公司负责招人、销售和承担债务风险,如果未来出现债务问题,由经营公司独立承担责任,那么资产公司就不会被牵连。

　　So, regarding the second point, what should we do to avoid affecting the company's core assets, or isolating the risks to the company's core assets? Many bosses put all their eggs in one basket, and the company is responsible for signing contracts, running business, holding factories, land, and patents. Once a contract dispute or safety accident occurs, the core assets will be auctioned off to offset debts, and years of operation will be destroyed. So we can separate assets from operations and put core assets such as real estate, patents, equipment, etc. into asset companies. Asset companies do not hire people or sign external business contracts, only do one thing, which is to lease or authorize assets to operating companies, while operating companies are responsible for recruiting, selling, and bearing debt risks. If there is a debt problem in the future, the operating company shall bear the responsibility independently, So the asset company will not be implicated.

　　针对第三点,如何隔离对自己名下其他公司的风险,这一点要强调的原因是,新公司法新增了横向人格否认制度,什么意思呢,就是如果老板名下的某些公司发生了债务,有可能会波及到其名下的其他公司,那么针对这种情况,我们可以设计横向的物理隔离,对各个业务板块,比如说房地产、餐饮、科技,设立独立的子公司,彼此之间没有股权关系,统一由顶层的控股公司持有,或者分别设立不同的控股主体,但这里要注意,他们之间的财务一定要做到相互独立,甚至针对某些高风险项目,我们可以单独设立一家运营公司去经营,譬如房地产企业,就会针对每一个楼盘设立独立的运营公司,如果项目结束或失败,就可以随时注销,把风险锁定在单一项目内,不扩散至主营业务公司。

　　Regarding the third point, how to isolate the risks to other companies under one's own name? The reason to emphasize this point is that the new Company Law has added a horizontal personality denial system. What does it mean? If some companies under the boss's name have debts, it may affect other companies under his name. In response to this situation, we can design horizontal physical isolation and establish independent subsidiaries for each business sector, such as real estate, catering, and technology, without any equity relationship between them. They can be held by the top-level holding company or set up different holding entities separately. However, it should be noted that their finances must be independent of each other. Even for certain high-risk projects, we can set up a separate operating company to operate them. For example, Real estate companies will establish independent operating companies for each property, If the project ends or fails, it can be cancelled at any time, locking the risk within a single project and not spreading to the main business company.

　　当然还有一些其他注意事项,比如说创始人不要随意担保啊,创始人不要随意担任法定代表人啊,这些都是一些细节内容,这里也不展开说了,需要注意的是,这些方案呢，只是给出了最简单的调整路径,实际操作起来非常复杂,就以第二种，资产公司和经营公司分家为例,因为这里面涉及到大量的资产转让,所以税负是一个很重要的问题,那么，为了合理税筹,只需要对整个交易进行拆解和梳理,设计出最优的交易路径,比方说，我们是选择直接分离公司呢,还是选择用资产出资去成立一家新的公司呢,不同的交易路径,计算出来的税额可能是天壤之别,这里没办法一概而论,必须针对每个公司的具体情况进行一事一议,那么，作为一名贯穿法律、商业、财税的专业股权老师,我也陪伴了很多家创业公司发展壮大,也帮助过两家企业上市成功,如果你也有股权设计方面的问题,欢迎来找我聊一聊,我们来综合找到一条更适合你的企业发展的道路,这个是我们能提供的专业股权规划的价值

　　Of course, there are also some other precautions, such as the founder not guaranteeing at will, and the founder not acting as the legal representative at will. These are some details that will not be elaborated here. It should be noted that these plans only provide the simplest adjustment path, and the actual operation is very complex. Taking the second option of separating asset companies from operating companies as an example, because it involves a large amount of asset transfer, tax burden is a very important issue. Therefore, in order to raise taxes reasonably, we only need to break down and sort out the entire transaction, and design the optimal transaction path. For example, do we choose to directly separate the company or use asset investment to establish a new company? The transaction path and calculated tax amount may vary greatly, and it is impossible to generalize here, It is necessary to discuss each company's specific situation on a case by case basis. As a professional equity teacher who covers law, business, finance and taxation, I have also accompanied many start-up companies to grow and helped two companies successfully go public. If you have any questions about equity design, please feel free to talk to me. We can comprehensively find a more suitable path for the development of your enterprise. This is the value of professional equity planning that we can provide