The creation of a SASU (Single-Member Simplified Joint Stock Company) in France is essential for any type of company. Generally, it is accomplished through a series of steps to constitute crucial formalities. These formalities determine the legal birth of the company. The costs of these formalities are borne by the partner, as he/she is the only one to bear the financial costs of his own company. Before the company is set up, the partner must plan the amount needed for the creation of a SASU. Here are the main steps involved in creating a SASU in France…
What is a SASU?
The single-member simplified joint stock company or SASU is made up of a single partner. It is one of the options for a legal form for setting up a company. The SASU is similar to the SAS (Simplified Joint Stock Company), but it varies according to the number of partners. The SASU evolves into a SAS, which then becomes a single-person company, avoiding the legal transformation of the company each time.
The 2008 law for economy modernisation makes it possible to simplify access to this legal form, which in he end offers several benefits. The SASU corporate form is highly appreciated by entrepreneurs.
Formalities for the creation of a SASU
It is important to respect the different steps for the creation of a SASU: the drafting of the partnership articles; the identification of the subscribers’ list at the business formality centre, etc. Usually, there is only one subscriber in the SASU at the time of creation; depositing the cash contribution at the bank which constitutes the share capital of the company. A provisional account will be opened to receive the contributions. A receipt will be issued to certify the deposit of funds to the owner of the SASU. At the clerk’s office, the certificate of deposit of funds is mandatory; the publication of the creation of the SASU in the newspaper of legal announcements; the domiciliation of your company: you are obliged to locate the registered office of your company; the filing of the creation file at the CFE or centre of formalities of companies. According to the procedure, your file will be transmitted to the tax department; receive your K-bis: your company is officially created.
Professional help in drafting the parntership articles of a SASU
For this process, it is more than important to assign the drafting of your company’s partnership articles to a professional who is able to give you advice tailored to your activity as well as to ensure maximum legal protection.