To create your business, you have the choice between several legal statuses, including the SAS (Simplified Joint-Stock Company) and the SASU (Simplified Unipersonal Joint-Stock Company). These are capital companies, in which each partner has the status of shareholder. In their operation, SAS and SASU have similarities that we will highlight in this article.
SAS AND SASU: DEFINITIONS AND CHARACTERISTICS
SAS and SASU are two societal forms with their own characteristics, beyond the common points that can link them.
The SAS is a commercial company whose operation excludes the intervention of public savings. For this reason, it cannot logically be listed on the stock exchange as opposed to the Société Anonyme (SA) for example. A capital company, the SAS is characterized by a fairly flexible mode of operation.
In fact, in the simplified joint-stock company , it is the partners themselves who define the operating rules. Similarly, the SAS wants to be simple and not very restrictive , both in its creation process and for those associated with its modification or dissolution.
While the SAS is a societal form that involves collaboration between several people, the SASU on the other hand supposes an SAS created and managed by a single person, a single partner. Hence the name Société par Actions Simplified Unipersonnelle.
The number of partners is, as you will have understood, the fundamental difference between an SAS and a SASU. In practice, these two legal forms have many similarities.
COMMON POINTS BETWEEN SAS AND SASU
SASU and SAS actually share several things in common.
IN TERMS OF RESPONSIBILITY
From a liability point of view, SAS and SASU have the same regime. In these two forms of capital companies, the liability of the partners is limited to their contributions. More clearly, this will mean that in the event of debts, the creditors of the SAS or SASU can only sue the partner or partners within the limit of the financial investment made for the company.
Under no circumstances can they sue you on your personal assets. Even in the event of a liquidation of the SAS or the SASU, you cannot settle your liabilities on your own funds.
IN TERMS OF TAXATION
In tax matters, SASU and SAS are subject to the same tax regime. Their profits are indeed subject to corporation tax (IS), with a reduction of 15% under certain conditions. Similarly, they can, for 5 years, opt for taxation according to the income tax (IR) system, which applies only to the profits distributed among all the partners.
In this second, it should still be noted the need for SAS and SASU to meet imperatives. Among other things, you must: exercise a commercial activity, have existed for at least 5 years, employ less than 50 employees, achieve a turnover or a balance sheet of less than 10 million euros.
FOR THE APPOINTMENT OF DIRECTORS
In SAS or SASU, you must have a president, who must be appointed. In the case of the SASU, even if the status of sole partner does not systematically imply a management role, you can manage your company yourself. Similarly, you can delegate the management to a director, or appoint several general managers.