Simplified Joint Stock Companies (SAS) are a type of commercial company created at the beginning of 2020 under a law promoting entrepreneurship.-
What advantages do SAS companies have?
This company is a new type of commercial entity that provides greater simplicity and flexibility for its formation and operation. It can be formed by a single partner or multiple partners. The timeframes are short and costs are lower, as it does not require certain formalities such as publications. The capital is represented by registered or book-entry shares, which makes share transfers easier. It also has other advantages, such as an unlimited term and the possibility of establishing a broad corporate purpose.
How are shareholders liable?
Shareholders are not responsible for labor, tax, or any other obligations incurred by the company.
How long does it take to establish it?
One and a half months
What is a DIGITAL SAS?
Since mid-2022, our country has allowed the creation of this type of company (Simplified Joint Stock Company) digitally, which represents an unprecedented innovation in the field of commercial companies.-
What benefits does this new digital SAS formation method offer?
First, speed, since the registration occurs simultaneously with the National Commerce Registry, the Social Security Bank (BPS), and the Tax Administration (DGI), and within three business days the SAS receives its number in the Unique Tax Registry (RUT).
Second, the company’s capital consists of the partner’s contribution, divided into transferable, non-transferable, or book-entry registered shares, making transfers very simple without requiring consent from other partners.
Third, as the procedure is conducted entirely digitally, partners need an advanced electronic signature. For this, it is necessary to have the “new” identity card or the Abitab digital ID for foreigners. The process to obtain the electronic signature is easy and fast.
Additionally, the digital SAS can have a broad corporate purpose, just like a traditionally formed SAS – any lawful civil or commercial activity.
It does not require notarization or publications in the Official Gazette, which reduces costs compared to the traditional formation method.
Without a doubt, this is a type of commercial company with many benefits, suitable for entrepreneurs seeking fast legal solutions tailored to their needs.-
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