France SASU

The French simplified joint-stock company (Société par Actions Simplifiée Unipersonnelle, or SASU) is a flexible, modern single-shareholder corporate form that also provides shareholders with limited liability protection. Its key difference from the traditional multi-shareholder simplified joint-stock company (SAS) is that the SASU allows establishment by a single shareholder (a natural person or legal entity), with no nationality or residency restrictions, making it particularly suitable for sole entrepreneurs or wholly owned foreign investors. The SASU’s capital is divided into shares, and there is no minimum registered capital requirement (the theoretical minimum is EUR 1). The capital may be fully subscribed, but at least 50% of cash contributions must be paid up at incorporation, with the remainder payable within five years after registration. In terms of management, the SASU is not required to have a board of directors; the shareholder may freely appoint one or more managers. However, the legal representative (Président) must be appointed by the shareholder and is not required to reside in France.