If there is one founder, a founding decision shall be drawn up. If there are two or more founders, a founding agreement shall be entered into. The founder shall sign the founding decision, the founding agreement shall be signed by all founders.

The document must specify:

• information regarding the founder (s), if the founder is a natural person: given name, surname, personal identity number and address at which it is to be reached;
• information regarding the founder (s), if the founder is a legal person – name, registration number, legal address, given name, surname, personal identity number and position of the representative who signs the founding agreement on behalf of the legal person;
• name (firm name);
• the size, number and nominal value of the share capital;
• the amount, payment procedures and time periods of the share capital subscribed by each founder;
• the number of shares due to each founder according to the share of its subscribed share capital;
• the number of shares and the sum of nominal values which, when the company is founded, are paid for by a financial contribution, indicating each object of the financial contribution and the given name, surname, personal identity number of each person who undertakes the undertaking to make the financial contribution;
• the permissible amount of the founding expenses and the procedures for covering them;
• any specific obligations, rights or advantages granted at the time of the formation of the company to the person who participated in the formation of the company (optional);
• the given name, surname, personal identity number of the members of the Management Board;
• the given name, surname, personal identity number of the members of the Council, if the company has a Council;
• the given name, surname, personal identity number of the auditor, if the auditor is intended for the company;
• other provisions which the founders consider relevant and which are not contrary to the law;
• date of signing.

If the person does not have a personal identity number of the Republic of Latvia, the date of birth, the number of the personal identification document and the date of issue, the country and institution which issued the document shall be indicated instead of the personal identity number.