Among all the different legal forms available in France, it's not always easy to make a choice when setting up a business. While the auto-entreprise, EURL and SARL are the best-known, the SASU deserves a closer look. What is it? How do you go about setting it up?
We're told that once again we have something to make your choice easier!
The SASU, or Société Anonyme par Actions Simplifiée, is a legal form with a single shareholder who can delegate the role of Chairman to a third party.
Whether managed by a corporate body or an individual, the powers of representation of a SASU can be delegated to the legal representative.
Since the 2008 law on the modernization of the economy, the SASU has been easier to operate, and is a good alternative to the EURL or SAS. The two main differences between these two structures are the absence of a minimum capital requirement , and the fact that the company is managed on a one-person basis . However, the formalities involved in setting up and managing a SASU are relatively costly, so entrepreneurs with high growth potential are more likely to opt for a SASU.
Like other existing legal forms, the SASU is no exception to the rule of a lengthy creation process.
Let's take a step-by-step look at how it's done!
The first step is to register your company. Your company's address is of the utmost importance, as it will reflect its image in the eyes of investors, prospects and/or customers. You can domicile your company in your own home, in commercial premises or through acommercial domiciliation company .
The second thing you need to do to set up your SASU is to draw up your Articles of Association. This will lay down the fundamental rules governing the operation of your company. You can do this yourself, but it's more advisable to call on the services of a legal expert or lawyer, who will be able to advise you and guarantee you the best possible protection.
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Create a business bank account
When you set up your company, you are legally obliged to open a business bank account to separate your business income from your personal assets.
First of all, what is share capital?
This is simply the original value of the assets held by the company. This capital serves as proof of the division of powers within the company. When the bank account is created, the founder(s) must deposit this capital in the form of a cash contribution (see our article on the different types of capital contributions). This sum of money is then blocked until the Kbis is presented by the bank, the Caisse des dépôts et de consignation or a notary. You will then be issued with a certificate of deposit, which you should keep in a safe place, as it will be essential when dealing with the CFE (Centre des Formalités des Entreprises).
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Publication of a legal notice
Now we come to the essential step of publishing the legal announcement concerning the formation of your SASU in a newspaper. It is important to enter a publication date that is the same as or later than the one shown on your certificate of capital deposit. Following publication, you will receive a certificate that will be indispensable for your CFE formalities.
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Registration of articles of association
Another essential step is to register your articles of association with the local tax office. In certain specific cases, it may be possible to register them with the CCI (Chamber of Commerce and Industry) in the town where your SASU is located. However, this may involve additional costs.
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Submitting the creation file to the CFE
First thing to do: download form MO from the CFE website, fill it in and include it in your business file. But what should you put in your file? Don't worry, we won't leave you hanging!
- A copy of the signed and dated articles of association
- A copy of the deed appointing the president of the SASU
- A copy of the document showing your registered office
- A copy of your request for publication in the legal gazette
- Proof of share capital deposit
- Form MO, dated and signed
- Photocopy of your ID card, driver's license or passport
- The Chairman of the SASU will have to draw up a sworn statement of non-conviction, together with a certificate of affiliation.
- Payment of court fees
Once this file has been compiled, you can submit it to your CFE or to the commercial court clerk's office. You will then receive a receipt.
Once your application has been submitted, the company registrar will register your company with the Registre du Commerce et des Sociétés (RCS). You will then need to wait a few days before receiving your Kbis from the Registrar.
And that's it, your SASU is created!
Written by our expert Maeva Girardot
November 27, 2017
