In companies set up with capital, the statutes must include at least the following:
- The company name.
- Its business purpose and all its activities.
- Its legal address.
- Its set-up capital, the shares this is divided into, their nominal value and sequential numbering. Requirements for this are different depending on the type of company as follows:
- Limited Responsibility company – the statutes must state the number of participations that the capital is divided into, their nominal value, correlative numbering and if they are not equal, the rights that each numbering gives to shareholders/associates and the number or extent of them.
- Public company – the statutes must state the type of share and their series (if applicable); and the nominal value required to buy as well as how to do this and the deadline for purchase.
- Limited share partnership – known as a sociedad comanditaria in Spanish, the statutes must also state the identity of collective shareholders.
- How the company is administrated, the number of administrators (or the minimum and maximum number), as well as how long an administrator holds the post and how they are paid (if applicable).
- How agreements are debating and reached by the company’s board.