What is an SAS?

An SAS is a simplified joint-stock company. It is approved by a legal entity and follows the rules governing commercial companies. The SAS has the most flexible legal status.

Broadly speaking, the steps involved in setting up an SAS are as follows:

  1. Drafting of provisional articles of association containing essential information about the company's operation: voting rights at AGMs, share capital, registered office, etc.

  2. Deposit share capital.

  3. Draw up the definitive Articles of Association and appoint the Chairman of the SASU at a General Meeting convened by each SAS shareholder.

  4. Signature of articles of association and publication of a legal notice in an official newspaper.

  5. Complete the M0 incorporation form and apply for registration with the Guichet unique des entreprises.

An SAS has several advantages. The share capital required to start up your business is just one euro. This means you can invest whatever funds you have available in starting up your SASU business. SASU partners benefit from asset protection. Only their capital contributions are committed. So if the company runs into financial difficulties, the partners' personal assets are not at risk.

The Chairman of an SAS is treated as an employee. They are therefore affiliated to the general Social Security system, managed by URSSAF. This is a fundamental difference from the directors of a EURL or SARL, who are affiliated to the self-employed workers' scheme.

Create a simplified joint stock company and receive unemployment benefits

Creating an SAS with ARE

To qualify for unemployment benefits while setting up a company such as an SAS ( Société par actions simplifiée), you must first be registered as a job seeker with France Travail (formerly Pôle emploi). For example, this could be the case of an employee whose employment contract has been terminated by the employer. If he meets the conditions, he can receive ARE back-to-work assistance.

Aide au retour à l'emploi (back-to-work assistance) is a benefit paid to employees who have lost their jobs through no fault of their own. They receive their unemployment benefit every month. To register for ARE, applicants must register with France Travail. The conditions under which unemployment benefit is paid change according to economic and political conditions. France Travail studies :

  • applicant's age ;
  • the conditions of his job loss;
  • working hours ;
  • the amount of previous compensation.

To receive the ARE, the beneficiary must declare his or her situation to France Travail. This declaration is made monthly via the application or website.

ARE payments to SAS chairmen

If you decide to set up an SAS with the status of chairman, you have the opportunity to request that your ARE (unemployment benefit) be maintained. Your unemployment benefit is then calculated on the basis of the profits generated by your company's activity. With this system, you benefit from real social protection for the launch of your business. There are two possible scenarios:

  1. If you are a salaried SAS chairman, the partial continuation of your unemployment benefit is an interesting way to help you start your business. Your remuneration as chairman of an SAS must be lower than your previous salary.

  2. If you are a non-remunerated SAS chairman, you are still considered unemployed and receive your full ARE.

ARCE and SAS creation

What is ARCE?

ARCE is a form ofassistance for taking over or creating a business. It is conditional on receipt of the ARE. Based on 60% of your ARE entitlement, you receive two payments:

  • 50% when you set up your SASU
  • 50% six months after starting your business

ARCE transforms 60% of your back-to-work assistance into a lump sum paid in two instalments.

Can the creator of an SAS benefit from ARCE?

To benefit from ARCE, an SAS creator must submit a request to the France Travail administration. They submit a certificate of business creation: extrait Kbis, Guichet unique certificate, etc.

ACRE and SAS creation

ACRE stands for "Aide à la création ou à la reprise d'entreprise". This scheme helps entrepreneurs during the first few months of business, by exempting them from 50% of social security contributions for a fixed period. The SASU must be domiciled and operate in mainland France or the French overseas territories.

The creation of an SAS can be combined with the maintenance of unemployment insurance in certain cases. This is a real boost for company founders. Other schemes, such as ARCE or ACRE, are also available to help business start-ups.