RG IGJ 11/2024: the SAS are deregulated and simplified
General Resolution IGJ 11/2024 (10/4/2024) reversed a series of restrictions that the IGJ had imposed on Simplified Joint-Stock Companies (SAS), deeming them excessive, restoring the spirit of simplification and low cost of Law 27,349.
What it regulates
It regulates the registry regime of the SAS before the IGJ, eliminating additional requirements (financial statements, audit, restrictive templates, professional opinions) that exceeded the law.
- Repeals or suspends a set of 2020-2023 resolutions that restricted the SAS (among them 3/2020 in part, 9/2020, 17/2020, 23/2020, 43/2020, 44/2020, 2/2021, 4/2022, 13/2022, 6/2023).
- Eliminates requirements to file financial statements, mandatory audit and certain professional opinions.
- Allows incorporation by electronic document with the digital signature of all grantors and eases subsequent registry requirements.
Official source: RG IGJ 11/2024 — Boletín Oficial (Official Gazette) (11/04/2024)
Commentary
It returns the SAS to its raison d'être: speed, low cost and digital procedure. For entrepreneurs, it reduces burdens that had been added by way of regulation.
It is advisable to verify the regulations in force at the time of the procedure, because the SAS regime has swung between greater and lesser control.
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