In forming a limited liability company, at least two people (as in the case of private company) and at least seven (as in the case of public company) draws up and signs a Memorandum and Articles of Association. The Memorandum and Articles of Association indicates:
- The name and address of the company fully registered.
- The objective of the company.
- Types of shares and its amount of capital.
- The rules and regulations of the company.
- When and where meeting shall hold, share transferring, borrowing and powers of managing Directors and their limitations.