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

The document must contain:

• details of the founder (s), if the founder is a natural person: given name, surname, personal identity number and place of residence;
• details of the founder/s, if the founder is a legal person, name, registration number, registered office, given name, surname, personal identity number, position and place of residence of the representative who signs the contract of incorporation on behalf of the legal person;
• name (firm);
• the size of the fixed capital, the number of shares and the nominal value;
• the share capital subscribed by each founder and up to registration; the size of the share capital to be paid, the procedures for payment and the time limits;
• the number of shares due to each founder corresponding to its share capital;
• the number of shares and the amount of nominal values which, when setting up an undertaking, are paid by means of a financial contribution, indicating each object of the investment and the given name, surname, personal identity number and place of residence of each person who undertakes the undertaking to make a financial contribution;
• eligible amount of the founding costs and arrangements for covering them
• any special obligations, rights or advantages conferred on the person who participated in the establishment of the company at the time of establishment of the company (not necessarily indicated);
• the names, personal codes and residence of the members of the Management Board;
• names, surname, personal identity codes and residence of members of the Council (if the company has a council);
• the name, personal identity number and place of residence of the auditor, if the auditor is intended for the company;
• other provisions which are considered essential by the Founders and which do not conflict with the law;
• place and date of signing.

If a person does not have a personal identity code of the Republic of Latvia, the date of birth, the number of the identification document and the date of issue, the State and the institution which issued the document shall be indicated in the places where it is necessary to specify the personal identity number.