The statutes are an essential element for the constitution of a company.
They are used to define, among other things, its corporate name (the name of the company), its purpose (its reason to exist), the address of its head office, the amount of capital invested in it, if any, and to mention the persons and institutions that will constitute the company.
The different articles are used to define the rules of operation amongst stakeholders (partners, shareholders...) and they depend first and foremost on the legal form of the company (ltd, real estate company, Inc...).
WHO IS ENTITLED TO WRITE THE STATUTES?
There are three solutions for the creator of a company to draft the relative statutes.
The first one is the redaction of the statutes by the director himself. A director is indeed entitled to write the statutes of his own company. For that matter, he either has the necessary legal knowledge or alternatively, he relies on status models that he can find online. Depending on the complexity of the company, particularly the number of shareholder partners, it is wise to use the services of a professional.
A lawyer: A lawyer can write the statutes of a company. For companies that require special operations (purchase of shares), the lawyer is particularly relevant. Moreover, he can contribute with his expertise to draft complementary acts to the statutes. For example, a partnership agreement, which governs the relations between the various stakeholders to shareholding. Without this document being published and thus made public, unlike the statutes.
Finally, you can make use of the services of a chartered accountant. For relatively simple ones, the accountant can not only draft the statutes of the most common company type (ltd, single-member ltd, Inc., single-member Inc.…), but also combine this service with a supporting role. It is a solution that represents a good value for money.