The SAS is the most flexible French company form. You design its governance almost freely in the statutes, which makes it the natural home for startups, multi-shareholder projects and anyone who plans to raise capital or grant equity.
In brief
- Shareholders
- 1 or more (a single shareholder makes it a SASU)
- Minimum capital
- €1, freely set
- Liability
- Limited to contributions
- Taxation
- Corporate tax (IS) by default, 5-year option for income tax (IR)
- Director
- President, treated as an employee (assimilé-salarié) for social security
Advantages
- Highly flexible statutes, you set the governance, share classes and transfer rules.
- Built for fundraising: easy to issue shares, preferred shares and BSPCE to teams and investors.
- Limited liability shields your personal assets.
- The president is covered by the general social security scheme, stronger protection than a self-employed manager.
- Shareholders can be brought in or bought out without reworking the whole structure.
Trade-offs
- Higher social charges on the president’s salary than a self-employed (TNS) manager.
- Flexible statutes must be drafted carefully, freedom means responsibility.
- Full accounting and annual filing obligations; more costly to run than a micro-enterprise.
Best for
Founders who plan to raise, grant equity, or build with several shareholders, the standard pick for ambitious projects.
Frequently asked questions
SAS or SARL, which should I pick?
Choose an SAS if you want flexibility and plan to raise or grant equity. Choose a SARL for a smaller, owner-managed or family business where a stable, framed structure matters more than flexibility.
Can I start an SAS on my own?
Yes, with a single shareholder it is technically a SASU, which follows the exact same rules. You can add shareholders later without changing form.
How much capital do I need?
Legally as little as €1, but a realistic amount signals credibility to banks and partners. Half can be paid in at incorporation, the rest within five years.