¿Por qué elegir una SAS en Argentina?: Ventajas, limitaciones y requisitos

The SAS (Sociedad por Acciones Simplificada) was created in 2017 by Law 27.349, the Entrepreneurs’ Capital Support Law, to give startups and small businesses a company type without the rigidity of the traditional SA. Nine years later it is the default starting point for many founders, and the 2026 IGJ reform made it even more flexible. But it is not the right vehicle for every project, and foreign shareholders face a few requirements that are easy to miss. This guide covers the advantages, the limits and the practical steps.

What an SAS is

An SAS is a share-based company whose owners’ liability is limited to the shares they subscribe. It can be formed by one or more individuals or legal entities, so a single founder can set one up alone. Its rules come from Law 27.349, complemented by the General Companies Law where the SAS regime is silent, and it is registered before the company registry of the relevant jurisdiction, such as the IGJ in the City of Buenos Aires.

Main advantages

The corporate purpose point comes from the reform we describe in our post on the nuevo régimen de registro de la IGJ. These features explain why the SAS is so popular. The real formation timeline still depends on the registry, the completeness of the documents and, for foreign owners, the apostilles and powers of attorney involved.

Limits and points to watch

• Group restrictions. An SAS cannot be controlled by, or linked through more than 30% of its capital to, a company under permanent state supervision (article 299 of the General Companies Law). This can matter when you plan a corporate group.
• A local administrator. At least one administrator must have a real domicile in Argentina. Foreign administrators need a CDI, a representative in Argentina and a domicile there for notifications.
• Foreign corporate shareholders. An overseas company holding shares must be registered under article 118 or 123 of the General Companies Law, a regime the IGJ unified and simplified in General Resolution 4/2026.
• Counterparty comfort. Banks, investors and larger clients may look harder at a young company, so clean corporate records and a clear ownership table matter.
• Legislative change. The pending reform bill would fold the SAS into the general companies law, as we analyze in our post on the General Companies Law bill.

Step by step: setting up an SAS

1. Decide the owners, the capital and the administrator or administrators.
2. Get tax identification (CUIT or CDI) for every shareholder and administrator.
3. Draft or adapt the bylaws, using the model text or a custom one, with the corporate purpose and governance rules.
4. Sign the instrument, digitally where possible, and file it with the registry.
5. Pay in the initial capital contribution, at least 25% of the subscribed capital.
6. Register with the tax authority, open the operating bank account and set up accounting.

An SAS still needs a valid legal address in Argentina. A domicilio social y servicio de correo solves that without leasing an office, and a representante legal en Argentina can act for owners who live abroad.

Notes for foreign founders

Most delays in foreign-owned SAS filings come from documents rather than from the law itself. Three points are worth planning early:

• Powers of attorney granted abroad generally need to be apostilled before they can be used in Argentina, and documents in another language usually need a translation by a certified public translator.
• Every shareholder and administrator needs a tax identification number, so request the CUIT or CDI before the incorporation date, not after.
• When a company is a shareholder, prepare its certificate of good standing and constitutive documents, together with proof of its registration in Argentina.

Getting these pieces ready in parallel is usually what separates a quick incorporation from a slow one.

When an SAS fits, and when it does not

It fits well when you are a solo founder or a small founding team, you want quick and low-cost formation, you value flexible governance, or you are building a startup that may later bring in investors. It fits less well when your activity is regulated and requires a specific corporate form or licence, when your structure involves companies under permanent state supervision, or when partners and investors expect a more formal share-based corporation. To weigh the alternatives side by side, read our SAS vs SRL vs SA comparison.

Información de carácter general únicamente. Este artículo no constituye asesoramiento legal, fiscal, regulatorio ni contable. Las normas y los requisitos pueden cambiar, por lo que se recomienda consultarlos con profesionales calificados antes de tomar cualquier medida.

Preguntas frecuentes

Can a foreigner form an SAS alone?

Yes. An SAS can have a single shareholder, individual or legal entity, including foreign ones, subject to tax identification and, for legal entities, registration in Argentina. At least one administrator must have a real domicile in Argentina.

Is there a minimum capital?

Yes: twice the minimum vital and mobile wage, with at least 25% paid in at incorporation and the balance within two years.

How fast can an SAS be formed?

The regime contemplates registration within 24 hours when the model bylaws and digital means are used. Real timelines depend on the registry, the documents and any foreign shareholders.

Does an SAS need an audit?

Not as a general rule. It is not under permanent state supervision, but a supervisory body becomes mandatory above a capital threshold.

If you would like to set up an SAS with the right local layer from day one, Póngase en contacto con SAXIA.