What is an SA?

The SA (Société Anonyme) is a business type, usually reserved for financially powerful companies. It’s a capital-focused partnership that pulls in wealth anonymously. Compared to the SRL, the SA has a more complicated management organisation. All partners are liable based on their contribution. The SRL is a legal entity whose social capital is divided into shares that can be transferred freely.  

Who should start an SA? 

The SA is best suited to entrepreneurs who have a large number of shareholders or partners who don’t necessarily need to be acquainted. It’s the perfect business type for a company with many shareholders and a need for a flexible transfer of shares.

 

What are the benefits of an SA?  

  • Free transfer of shares: shares can be transferred freely, which gives shareholders flexibility. 
  • Limited liability: shareholders are liable only up to the amount of their contributions. 
  • You don’t need to keep a shareholder register.

 

What are the disadvantages of an SA? 

  • Higher start-up capital: you need a minimum sum of €61,500 to start. 
  • Complicated management structure: the SA has a more complicated structure than an SRL. 
  • A corporate auditor is required when there are contributions in kind or certain real estate transactions involved. 

What are the start-up costs and what about taxes? 

Founding an SA requires a minimum sum of €61,500, which needs to be deposited in full before the launch. If you want to contribute in kind, you need a corporate auditor. An SA’s profit is taxed according to company tax regulations. The standard rate is a maximum of 33,99% (including the additional crisis tax of 3%). However, there are lowered rates available to companies with a taxable income under €322,500. 

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