Under section 201A of the Corporations Act 2001, a private limited company must have at least one director who is over 18 years of age (not necessarily an Australian permanent resident), but must be permanently resident in Australia, and the other directors may be non-resident in Australia. A public company must have at least three directors (over 18 years of age), two of whom must be permanently resident in Australia and the other directors may be foreign residents. Also, regarding the number of shareholders, a private limited company is allowed a maximum of 50 non-employee shareholders, while a public company has no maximum number of shareholders.