let me first explain my situation before asking my question. I use to work in research at university overseas on a project that has been spun off in a startup in China by my former supervisor who is Chinese (I am not Chinese). I actually left before the company started but was responsible for part of the idea and building the prototype. As such, my former supervisor (with who I am in very good terms BTW) has agreed that I should get some form of participation in the company.
The problem is that according to him, foreigners are not allowed to hold shares in a Chinese company without complicated business structure workarounds that would be too much to undertake at such an early stage. So his recommendation is basically that I should trust him and wait till a later stage to then get my share in the company.
I do trust him but I would also like to have some kind of legally binding document that says something like: "Mr. X is granted X amount of shares at X price", does such a thing exist?
I'm really not familiar with all this, and the fact that the company is based in China makes it even more complicated so I'm ready to hear any kind of advice on people in similar situations.