Single Person LLC
A SASU is a single-person limited liability company(LLC) whose founder/entrepreneur is the sole shareholder. They determine the capital and the rules of organization of the company belong. This single shareholder unilaterally makes all important decisions for the company.
The operating rules of the SASU are adaptable and flexible because they are based on a single will. The president of the SASU is the legal representative of the company. She takes charge of all the daily decisions concerning the company’s going concerns.
Share Capital
Only one person invests in the share capital of the SASU. The minimum share capital to create a SASU is a symbolic euro, but in reality, €4,000 is recommended, as French banks will not open a non-resident bank account for foreigners. The entrepreneur’s liability is limited to the amount of share capital contributions.
Social Regime of Manager
The SASU’s owner/president benefits from the assimilated employee (dirigeants assimilés salariés) status – meaning that the social security system treats them as regular employees, albeit with high social costs. The managers are affiliated with the general social security system. But if there is no compensation, there is no affiliation – meaning they do not get unemployment benefits in case of unemployment.
Applicable Business Activities
The SASU legal form adapts to a wide range of entrepreneurial profiles to exercise numerous activities: commercial, craft, civil or agricultural, liberal professions, etc. However, some activities are excluded: Insurance companies, the entertainment industry, and tobacco shops, among others, cannot opt to incorporate as a SASU.
To learn more about the remuneration and the tax regime of the president of the SASU, please see our article dedicated to the subject.
