Every company must have at least one member.
A person whose name is entered in the register of members of a company is a member of the company.
The concepts of "member" and "shareholder" are distinct. Owning shares in a company (i.e., being a shareholder) does not automatically make one a member of the company.
In typical cases, a shareholder is also a member of the company. However, there can be instances where a person is a shareholder but not a member, and vice versa. For example, a person may be a shareholder by beneficially owning shares held in the name of their nominee, and the nominee may be a member of the company because the nominee’s name is entered into the company’s register of members.
In a company limited by guarantee, a member is not a shareholder because such companies do not have share capital.
Note: The above guide is intended to provide broad guidance. As it avoids legal language wherever possible, it might contain some generalisations about the applications of the law. Professional advice should be sought on how the relevant laws may apply to your specific case or circumstances.