Increase the minimum capital required to establish SAS

            Due to the increase in the minimum vital and mobile salary, the capital for SAS is set for September at $ 31,250 and as of October at 33,750 pesos
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                    <p>Due to the increase in the minimum vital and mobile salary, the minimum capital for the constitution of the Simplified Stock Companies (SAS)<span style="background-color: #ffff99;"> It is set for September at $ 31,250 and as of October 1 at 33,750 pesos.</span>

As of June 30, more than 13,200 SAS had already been created between the provinces of Currents, Tierra del Fuego, Córboba, province of Buenos Aires and City of Buenos Aires.

"We had been anticipating since last year that this type of company had been taking participation from the other types of companies, in some cases equating the number of companies constituted by SRL and taking participation even to the SA, "he told Professional, Nuria Plez, co-founder of RPA Consulting.

"It is in the light of all, that the simplicity of the process makes SMEs and entrepreneurs opt for this system less bureaucratic and much more agile," added the expert.

In the City of Buenos Aires once the procedure has been entered at 24 hours it is registered, but it is worth clarifying that although this registration issue takes 24 hours, The entire constitution process takes about 72 hours if you choose to sign in IGJ, since it usually takes a few days to obtain shifts to attend the agency to sign.

From INICIA, they detailed to this medium the five pillars that support the success of SAS and why they are adopted by entrepreneurs:

one. Possibility of establishing with only one partner.

Although the Unipersonal Public Limited Company exists in our system from the sanction of the new Civil Code, the requisites and formalities required, both for the constitution and for the operation of these, they made that figure more attractive to large foreign holdings that wanted to operate in the country and establish its 100% controlled subsidiaries than for an entrepreneur who wants to formalize his idea.

2. Facilities and lower costs in the constitution process.

While that does not happen in all jurisdictions that have already implemented SAS (yes in the CABA IGJ, for example), the law clearly states that records must make digital media available so that the constitution of the same (and any other subsequent registration) is made through electronic means.

In this way, Any citizen could, from home, set up the company or make any subsequent procedure. It is an improvement in relation to the existing system for other social types, which require a visit to the body. As mentioned above, 100% digital processing is only operational in CABA, province of Buenos Aires, Corrientes and Córdoba.

3. Flexibility in operation.

SAS give to partners a wide margin of freedom to regulate how their organs will function in the day to day of society. Although it establishes which ones should exist, the attributions and the way to adopt the decisions can be adapted by each company to the specific needs of its activity.

4. Incorporation of investment.

At this point, the law that opens the doors to SAS (27,349) foresees important advances that allow an entrepreneur to raise an investment round more in line with the uses and customs of the capital market entrepreneur (or venture capital).

The law regulates irrevocable contributions, establishing a maximum period in which they may remain as such., something that today regulated the registers at will and without a standardized parameter.

What is an irrevocable contribution?

Basically, the contribution made by an investor, partner or not, in a company on account of the subscription of a future capital increase. That is to say, the financier contributes capital today to receive shares in the future (in this case, within two years). If you look for parallelism, it would be a SAFE.

In addition, the law allows society issue in the same capital increase shares at different value, something that for traditional social types is prohibited.

What does this mean?

That an entrepreneur could incorporate investors at the same time at different valuations, according to what he would have agreed with each one when negotiating his investment without generating greater costs (each capital increase must be registered in the registry), nor having to liquify the existing partners more than once.

Thus, combining these two points, an entrepreneur could raise a round of capital by signing irrevocable contributions during the period of two years, modifying the value of the company as the operation progresses.

In addition, before the expiration of that period, you can negotiate the entry of an institutional financier and issue the shares of all of them at the same time but at a different value, as in the international venture capital market.

With an SA, SAU or SRL This would not be possible.

1. Last but not least, Law 27,349 provides that All corporate and accounting books of the SAS must be kept digitally.

While this has been resisted by some sectors, represents an advance in the matter of transparency and formalization of entrepreneurial activity. Like any novelty, its implementation will be a challenge. But, compared to the current book copy system, it is understood that it means a substantial advance towards the modernization of Argentine companies.

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