Requirements to constitute a SAS: Steps to follow

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In Colombia the Simplified Stock Companies It has been one of the best options when forming a company, due to the way in which they are constituted and the large amount of benefits they offer to shareholders.

If you want to form a SAS, Procedures and Requirements invites you to read this article, which contains everything you need to know about these companies, from their definition to the steps you must follow in order to create them.

What is a SAS?

A Simplified Joint Stock Company or better known by its acronym as SAS, is a commercial company, which has ease and flexibility for its constitution, organization and operation.

This type of entity is constituted through a private document. In the event that any of the member partners wishes to make a contribution of real estate, this must be constituted by means of a public deed, in which the data of said asset must be provided.

If it is a constitution established by a private document, it must be authenticated prior to registration with the Chamber of Commerce of the corresponding jurisdiction.

Law 1258 of December 5, 2008 gave rise to this type of companies, with the purpose of granting greater flexibility to corporate law and also offering entrepreneurs the advantages that limited companies have, also allowing them to design the necessary mechanisms for the management and control of their needs .

The partners of this type of entity can be natural or legal persons, which can be national or foreign.

Requirements to constitute a SAS

  • It must have at least one shareholder member.
  • Name of the company, which is not taken by other entities. For this you can verify through the web system in charge. To verify click Here .
  • The destiny of this company must be clear, that is, to what activities this company will be dedicated.
  • Establish the capital that each member will contribute.

Steps to follow

To form a SAS It is necessary to comply with a series of steps, which are presented below:

  1. Possess all the requirements and comply with the established conditions.
  2. Prepare the incorporation document and authenticate. To do this, the personal data of each shareholder must be provided and the main address of the company must be entered.
  3. The form of administration that the company will take must also be set out. If required, you can add other information that you consider necessary.
  4. The next step is to authenticate the incorporation document. This can be done at the headquarters of the Chamber of Commerce closest to the establishment of the company. For this process, all those who sign the document must be present and have a copy of the identification document of each of the shareholders.
  5. You must proceed to file the incorporation document in the Chamber of Commerce.
  6. To carry out this procedure, you must request the corresponding forms. This is done at the headquarters of the Chamber of Commerce.
  7. You must go to the “virtual room” of the headquarters with the forms, the document prepared and the instructions that must also be requested at the Chamber of Commerce.
  8. Request the Registry. To do this, you must request an appointment to register SAS
  9. Make the corresponding payments, such as: The commercial registration, the registration fees and the form.
  10. Once the document is filed, the process can take at least 8 hours.
  11. Proceed to complete the registration of the company. To do this, request the Certificate of Existence and Legal Representation of the company and Form 1648.
  12. You must create a bank account that is in the name of the company.
  13. Request the RUT. You must go to the DIAN headquarters with the certification of the opening of the account and a copy of the Certificate of Existence and Legal Representation of the Company.

Check the status of the process

For check the status of the process Within 8 hours of the registration process, you can access the website in charge. To do this enter Here.

You also have the option of going to the headquarters of the Chamber of Commerce of your choice, or communicating by phone and making your inquiry.

How many people are in a SAS?

A Simplified Stock Company (SAS) operates and operates under a series of established standards and parameters, including standards applicable to public limited companies.

One of the characteristics that make this type of company unique is the fact that at least one must have 1 shareholder for its creation, but there is no maximum number of members, which makes them different from public limited companies, which require at least 5 members to be formed and do not have a limit of shareholders.

They also differ from limited companies, which are constituted from 2 members and have an established shareholder limit of 25 members.

Advantages of creating a SAS

A Simplified Joint Stock Company It has a large number of advantages, which are expressed below:

  • Procedure simplification: The company is registered through a private document, which generates a reduction in the costs of the procedure.
  • Always commercial character: Despite the fact that commercial law applies to many companies and civil law to others, SAS will always be of a commercial nature, regardless of their corporate purpose, which causes the dichotomy in private law to be eliminated.
  • Opportunity to create a single member society
  • Limitation of responsibilities: The shareholders are not responsible for labor obligations, tax or any other nature.
  • Autonomy to freely establish the rules that best suit the company.
  • The SAS have a flexible capital structure: They do not have a minimum amount of assigned capital, like other types of companies.
  • First Job Law: The Law of Formalization and Generation of Employment “Law of First Employment” which grants different benefits in discounts in commercial registration and others.

This and other advantages can be obtained from Simplified Stock Companies.

Video

Next, we present a video that will serve as a guide, to process your SAS:

Consider all these data to create your Simplified Stock Company.

Follow all the steps outlined in this article to creboot your SAS successfully.

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