Once you have these, you can found a PMK with the declaration. The declaration is an item similar to a settlement deed, or a trader contract.
The template kingdom is currently either [[JK]], [[MR]] or [[HotS]]. The PMK inherits all specifics and models of the template kingdom. You will be at war with all kingdoms, including your template kingdom. The king has the option to ally with all kingdoms, except HOTS. The game also supports custom PMK models. So you can submit your own flags, etc. to the art team.
On founding, all the players are [[convert|converted]] to your new kingdom, your settlement is converted, and any [[tower]] in your settlement is converted to the new kingdom. You will become the king and your settlement automatically becomes the capital, and the [[spawning|spawn point]] of your kingdom.