SAS: how to create your company in one day and online

In 2017, the Entrepreneurs Law was approved in Argentina for the development of SMEs and new businesses. This law, the first in the country, seeks to alleviate pain points by creating a Simplified Stock Company, known as SAS. If you are about to start your own project, this article will interest you!

Law 27,349 to support entrepreneurial capital, known as the , meant an important step in the economy of SMEs and in commercial activity.

One of its most relevant aspects is the creation of a company in just 24 hours: the Simplified Stock Company (SAS).

If you want to know how to create a SAS in Argentina and what are the requirements to take into account, keep reading to know the keys to this corporate format.

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What does SAS mean?

The term SAS stands for “Simplified Stock Company”. In other words, it is a new corporate model that allows you to create your company in one day in a simple, agile and digital way!

• It is simple because it includes the opening of a bank account, a new CUIT and a basic capital of two minimum wages, vital and mobile.
• It is agile because your company can be constituted by a single partner or by one or several human or legal persons. And the object of your business can be broad (which will save you updating efforts if your project grows in the future).
• And it is also digital because the signatures, the books and the powers of attorney are handled online.

The objective of a SAS is to give entrepreneurs and companies the possibility of developing their companies without bureaucratic obstacles and administrative requirements until they achieve international expansion. In addition, it seeks to encourage entrepreneurial activity and the generation of capital in the country.

📃 To continue learning, we invite you to read about all of them.

Launch of the SAS in Argentina

From September 1, 2017 it is possible to do it through the Distance Procedures (TAD) platform.

Main advantages of setting up a SAS

• You create your company in one day and from a computer.
• You only need a social capital equivalent to two minimum wages, vital and mobile.
• The cost of the procedure includes the costs of registration and automatic publication in the Official Gazette.
• You can include the cost of the procedure as integration of the initial capital.
• Together with the registration, you obtain the CUIT of your SAS automatically.
• You can sign your statute with a digital signature.
• Your corporate and accounting books will be digital.
• You do not need a partner to establish it.
• You can register for taxes and apply online.
• You will be able to open a bank account faster.

Main disadvantage of the SAS in Argentina

• The corporate model of the SAS is in force in the country, however, there are some problems for its formation in CABA and in the Province of Buenos Aires.

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Companies that cannot be incorporated as SAS

Companies that:

• They have a mixed economy
• exploit public services or concessions,
• carry out operations of capitalization, savings or require money from the public with promises of benefits or other future benefits,
• are controlled by a mixed economy company, which carries out capitalization operations or operates public services,
• they have a participation of more than 30% of the capital of companies such as those mentioned in the previous points.

In the previous section we defined what a SAS is. Now we focus on an elementary point and it has to do with what taxes a SAS pays in Argentina.

📃 To have more knowledge, we recommend you read the article about .

What taxes does a SAS pay in Argentina?

Tax obligations for SMEs and professionals are established according to the type of company to which they belong. In this sense, any legal entity or person that carries out an economic activity must register with the AFIP taxes:

If you want to know how to form a SAS in Argentina, remember to register with the following taxes:

Taxes on behalf of the company

• Value Added Tax ()
• Earnings Legal Entities
• Gross income

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SAS administrators must register at:

• VAT exempt
• Self-Employed Regime
• Earnings as individuals

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How to create a SAS in Argentina?

To learn how to create a SAS company you have to know that each province has its own system and requirements to start this process. We tell you what they are:

1. Seek advice from a professional accountant
2. Start the process online and create the SAS company
3. Register the status of the SAS
4. Register the SAS in the AFIP

Let’s take a closer look at each of these steps:

1) Seek advice from an accounting professional

Today there are a number of corporate figures to set up a company in Argentina. Although we deepened this point at the beginning of the article, we make a brief review of which are the most used:

• Quota parties: Limited Liability Companies (SRL)
• Capital: Public Limited Companies (SA)

Now, to be able to choose between one figure and another, you need to know the type of activity you are going to develop, the business model, the capital and the .

It is important to have the advice of a professional or accounting firm to guide you in this process of defining the type of commercial company that best suits your business, either or .

2) Start the process online and create the SAS company

Once the corresponding legal accompaniment has been completed, you can start the online procedure to create the SAS company. Next, we bring you the platforms that belong to some jurisdictions:

• Establish a SAS in the Autonomous City of Buenos Aires: enter the (TAD) system with the CUIL or CUIT of the legal representative. After this, the General Inspection of Justice (IGJ) will approve your management.
• Establish a SAS in the province of Buenos Aires: in this case, start the process in the Electronic Document Management System of the Province of Buenos Aires (). Then, the process ends at the Provincial Directorate of Legal Entities of the Province of Buenos Aires.
• Establish a SAS in Córdoba: you can start the process on the platform and, later, validate it in the General Inspection of Legal Entities (IPJ).

3) Register the status of the SAS

To facilitate the process, the government offers, which defines in advance the object, the duration, organization of the administration and the characteristics of the capital of the SAS.

In addition, to form a SAS, two instruments are needed, depending on your case. The first is a public instrument that must have signatures certified by a court, notary, bank or other authority.

The second is a private instrument that must be delivered to the Public Registry for registration.

4) Register the SAS in the AFIP

Once the digital process begins through a model statute, the company is registered in the public registry and the AFIP CUIT is obtained within 24 hours. Afterwards, it is a mandatory requirement to register SAS companies with the AFIP to comply with taxes.

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What are the requirements to establish a SAS?

To establish a SAS in Argentina you will need:

• Name: define the name of your company without taking into account the acronym SAS. The system will notify you if it is available, otherwise you have to choose another.
• Model Statute: If you choose this modality, you will create your SAS in 24 hours. But, if your company does not fit the scheme you have to consult a professional to advise you and help draft your own constitutive instrument.
• Minimum capital: Remember that if you choose the minimum investment capital, it is not necessary to justify the integration of 25% since it is reflected in the payment of the procedure.

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The requirements that you will need to start the process and set up a SAS in Argentina are:

1. File your SAS.
2. Have CUIL, CUIT or CDI (if you don’t have it, you can get it for free).
3. “2” or more (you can do it online or at an AFIP office).
4. Adhere to the TAD service (you do it quickly on the AFIP website).

Benefits obtained by SAS companies

Among the benefits of creating a Simplified Stock Company (SAS) the following stand out:

• Ease in the processes: online registration is done in just 24 hours and, at the end, the CUIT is obtained to be able to operate and issue Invoice A.
• Best investment: you will need two minimum wages to form a SAS and you will only integrate 25%.
• Single person model: This type of company can be established with a partner, unlike the SA
• Security: The liability of the partners is limited to the subscribed shares.
• Fewer obstacles: members can determine what the quorum or majority requirements are for and can also do so online.
• Issuance of shares: the founder has the possibility of limiting the sale of shares and maintaining his right to vote with the income of investors.

💡 We know that the path of the entrepreneur is one of constant learning, that’s why we share this checklist with valuable information:

Are you about to start your company? We teach you how to create a SAS!

With the official launch of the SAS, it aims to achieve simpler and more agile legal and administrative conditions, eliminating bureaucratic obstacles.

The objective is to help entrepreneurs to develop their projects in a practical and transparent way, encouraging them to trust and bet on the economy and the future of our country.

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If you have an entrepreneurial spirit, we invite you to make your ideas a reality with the help of professionals. Meet our platform and!

Keep in mind that this post does not have the nature of advice or recommendation to adopt a specific tax criterion, which should be consulted with tax advisors regarding all tax consequences to the extent deemed necessary.

In this sense, this guide does not constitute advice or professional service by Tiendanube on any particular matter. The company assumes no liability for any damages resulting from or in connection with the use of such information.