English translation: simplified joint-stock company
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10:06 Feb 15, 2005
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SAS (Société par Actions Simplifiée) = Simplified Stock Corporation
Explanation: = business corporation for 2 to 7 shareholders
The Societe Par Actions Simplifiee (SAS)
(Simplified Stock Corporation)
At the beginning of 1994 (Law of January 1994), French corporate law was amended to create a new company form, the simplified stock company which is designed to be an appropriate vehicle for corporate joint ventures. This company form (called the société par actions simplifiée: SAS) had its origin in proposals by the French business sector. Larger French industrial companies particularly wanted a specialised corporate structure with which they could participate in business ventures with foreign partners. For many years, the rigidity of French corporate law has been seen as an obstacle to French participation with foreign companies in French-based joint ventures.