SAS vs SRL vs SA in Argentina: Complete Comparison for Founders

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Choosing between an SAS, an SRL and an SA is the first structural decision behind most Argentine market entries. All three give owners limited liability and fall under the same corporate income tax regime, but they differ in who can own them, how much capital they need, how they are governed and how closely the state supervises them. This comparison puts the differences side by side, then turns them into decisions for common founder profiles. For a broader overview that also covers branches, read our guide to the types of companies in Argentina.

Glass, brick and classical stone office buildings side by side, illustrating the SAS, SRL and SA company types

The three forms side by side

FeatureSASSRLSA
OwnersOne or more, and a single owner is allowed2 to 50 partnersTwo or more shareholders. A single-shareholder SA exists but is under permanent state supervision
Capital is divided intoSharesQuotasShares
Minimum capitalTwice the minimum vital and mobile wageNo legal minimumARS 30,000,000 for SAs incorporated since 1 March 2024
Payment at incorporationAt least 25% in cash, the rest within two yearsFully subscribed, with at least 25% of cash contributions paid inFully subscribed, with at least 25% of cash contributions paid in
FormationPublic or private instrument, digital signature possiblePublic or private instrument, with registry filingPublic instrument and registry filing
GovernanceOne or more administrators, remote meetings, flexible bylawsOne or more managers, with partner decisions set by the bylawsBoard of directors and shareholders meeting, more formal
State supervisionNot under permanent supervision. A supervisory body is required above a capital thresholdA supervisory body is required only if capital passes the legal thresholdPermanent supervision in the cases of article 299, such as public offering or capital above the threshold
Transfer of ownershipFlexible, set by the bylawsSet by the bylaws, which often add consent or pre-emption rulesShares, freely transferable unless the bylaws restrict them
Typical fitSolo founders and startupsClosely held businesses with stable ownersLarger businesses, outside investors and formal governance

Figures such as the minimum capital and supervision thresholds are updated periodically, so confirm the current amount before you incorporate. The SA minimum comes from Decree 209/2024, explained in the official announcement on the new share capital amount.

Which one fits your profile

  • A solo founder or a small founding team testing an idea. The SAS: it allows a single owner, needs little capital and keeps governance flexible.
  • A startup planning to raise capital. An SAS while it is early, or an SA when investors expect formal governance and a familiar structure. See our guide to forming an SA in Argentina.
  • A family or closely held business with a stable group of owners. An SRL. Our practical guide to forming an SRL covers quota transfers, management and signing rules.
  • A foreign parent setting up a wholly owned subsidiary. An SAS allows a single shareholder, while an SRL needs at least two partners, often the parent and an affiliate.
  • A larger operation or a regulated activity. An SA, because some activities and market participants expect that form. Check the sector rules first.
Three stone archways lit in amber, blue and white, representing three company structures to choose from

Common mistakes when choosing

  • Picking an SA for prestige. A more formal structure brings higher legal capital, heavier governance and, in some cases, permanent supervision. Choose it for a reason.
  • Picking an SRL for a single founder. It needs at least two partners, so one-person projects end up with a token second partner or a restructuring later.
  • Ignoring the parent side. If a foreign company will own shares, its own registration and documents need to be ready.
  • Designing rigid bylaws. Corporate law is changing, so keep governance and transfer rules adaptable.

Liability and taxes

All three limit the owners’ liability to the capital they contribute, with the usual exceptions for personal guarantees, misuse of the corporate form and certain tax or labor liabilities. For tax purposes the company form does not change the corporate income tax regime, which applies to all three. What changes is the cost of compliance and the level of supervision: an SA in the cases of article 299 carries the heaviest obligations, an SAS the lightest.

What the 2026 reforms change

Two recent developments affect the comparison. General Resolution 11/2026 of the IGJ removed the mandatory pre-qualification and broadened the corporate purpose for all company types, letting an SAS state any lawful activity. And the pending General Companies Law bill would incorporate the SAS into the general law, remove the 50-partner cap of the SRL and eliminate four older company types. We analyze it in our post on the bill and sectoral shares. Neither is a reason to delay a well-planned incorporation, but both are reasons to keep the bylaws flexible.

A simple decision checklist

  1. How many owners do you have today, and how many will you have in two years?
  2. Will you raise outside capital, and what governance will investors expect?
  3. Do you need a wholly owned subsidiary structure?
  4. Does your activity need a sector licence or a specific corporate form?
  5. Which local address and administrator will the company use?

If your answers point to the SAS, our guide to choosing an SAS in Argentina covers its requirements and limits in detail. For help mapping your case to the right form, talk to SAXIA.

General information only. This article is not legal, tax, regulatory or accounting advice. Rules, thresholds and requirements change and should be confirmed with qualified professionals before acting.

Frequently asked questions

Which company type is the cheapest?

Costs depend on the registry, notary and professional fees and the capital required. The SAS usually needs the least capital and the SA carries the highest legal minimum, but the total depends on your facts.

Can one person own the company?

Yes, as an SAS. A single-shareholder SA exists but is subject to permanent state supervision, and an SRL needs at least two partners.

Can I change the company type later?

Argentine law allows a company to transform from one type into another, so starting with an SAS does not lock you in, although a transformation has its own formalities.

Do foreigners face different rules depending on the form?

Foreign individuals and companies can own any of the three. Tax identification, apostilled documents and the registration of foreign corporate shareholders apply, and the details depend on the form and the registry.