The qualification of shareholder in Pre-IPO is of great significance for setting up joint-stock company and increasing the registered capital for shareholder can influence the plan of the restructuring the company and schedule of IPO with the the power entitled by law and article of association. Study on the qualification of shareholder in pre-IPO is of instructive significance for practice of securities law and stable development of stock market. The writer analyzed the difference among promoter, subscriber and shareholder, also discussed the limitation on the promoter and the shareholder in Pre-IPO, analyzed whether person with Chinese nationality can be shareholder in joint-venture Pre-IPO. At last the writer raised some suggestion on China security related laws.