Constitution of SAS in Colombia

Incorporation of S.A.S.: The Simplified Joint Stock Company (S.A.S.) is a commercial capital company, which stimulates entrepreneurship due to the facilities and flexibility it has for its incorporation and operation. This company was created by Law 1258 of 2008, in addition to Decree 2020 of June 2009.

A simplified joint stock company can be constituted by one or several natural or legal persons, national or foreign, its nature is commercial, but it can carry out both commercial and civil activities, it is created by private document and is created after registration in the chamber of commerce, unless the initial contributions include real estate, in which case a public deed is required.

The shareholders are liable only up to the limit of their contributions. Regardless of the cause of the labor, tax, etc. obligation. The only limitation of the SAS is to trade its securities in the public stock market. It should be noted that the payment of the subscribed shares cannot exceed 2 years.

In order to start the incorporation process of an S.A.S. in Colombia, the following items must be defined in company of our accounting consultant:

Documentation required as part of the visa requirements:

• Name, identity document and domicile of the shareholders.
• Corporate name followed by the letters ‘SAS’.
•  The main domicile of the company and the branches.
•  Term of duration, it may be for an indefinite term
•  Clear statement of the economic activities that the company may carry out.
• Authorized, Subscribed and Paid-in Capital. Number and kind of shares, terms and forms of payment
•  Legal representation.