In El Salvador, Simplified Stock Companies (SAS) represent a new era of business. From their sole proprietorship to the possibility of virtual formation, these companies not only offer financial flexibility but also facilitate financial and banking inclusion in the country.
Advantages of Simplified Joint Stock Companies (SAS) in El Salvador
Among the particularities of Simplified Joint Stock Companies (SAS) in El Salvador is that they can be formed by a single natural person (sole proprietor) or a corporation.
- It provides an advantage for individual traders, as they will be able to separate their personal assets from those of Simplified Joint-Stock Companies (SAS) in El Salvador.
- It offers Salvadorans residing abroad the opportunity to establish companies within the country through the use of certified electronic signatures.
- The share capital for the incorporation of these companies will be determined by the shareholders and must be freely established starting from a minimum amount of US$1. The contribution may also be in the form of labor or labor.
- Simplified Joint Stock Companies (SAS) in El Salvador may be created by a foreign company, and to do so it will need to have the constitutive documents in the country of origin, and be presented in Spanish, duly apostilled, in addition to presenting the document that proves the Legal Representation and appointment of a representative in said country so that it applies in the same way in El Salvador.
- Any existing company may adopt the Simplified Joint Stock Company (SAS) type in El Salvador through transformation or merger with the approval of a general meeting or by a bylaw.
- Simplified Joint Stock Companies (SAS) in El Salvador will be dissolved due to the expiration of the term provided in the form, due to the impossibility of carrying out activities included in their corporate purpose, among other reasons.
- Easy onboarding via virtual means, without assistance.
- It will contribute to financial and banking inclusion in the country, as a new way to start businesses in El Salvador.
