Company founding decision / agreement

For the company registration in Latvia, if there is only one founder, a founding decision shall be prepared. If there are two or more founders, a founding agreement must be concluded. The founding decision must be signed by the sole founder; the founding agreement must be signed by all founding members.

The founding document (decision or agreement) must include the following:

1. Founder Details:
   • If the founder is an individual: full name, personal identity number, and contact address.
   • If the founder is a legal entity: name, registration number, registered office, and the full name, personal identity number, and position of the representative signing the incorporation document on behalf of the legal entity.
2. Company Information:
   • Proposed name (firm) of the company.
   • Amount of share capital, number of shares, and their nominal value.
   • Share capital subscribed by each founder, including the amount, terms, and deadlines.
   • Number of shares allocated to each founder in proportion to their contribution to the share capital.
3. Financial Contributions:
   • Number of shares and their nominal value paid via financial contributions.
   • A description of each financial contribution, including the name, surname, and personal identity number of the contributor.
4. Founding Costs:
   • The allowable amount of founding-related expenses and how they will be covered.
5. Special Provisions (if applicable):
   • Any special obligations, rights, or privileges granted to founders during the formation of the company. (This section is optional.)
6. Company Management:
   • Full name and personal identity number of each member of the Management Board.
   • If applicable, the full name and personal identity number of each member of the Council.
   • If an auditor is appointed, their name and personal identity number.
7. Additional Provisions:
   • Any other terms deemed essential by the founders, provided they do not conflict with applicable laws.
8. Date of Signing

Note:
If any individual does not possess a personal identity number issued by the Republic of Latvia, the following information must be provided instead:

• Date of birth
• Personal identification document number
• Date of issue
• Country and issuing authority