ONE: ¿Monotributo or Society What do I need to be an entrepreneur?

If you have a business underway and you do not know how to give a legal framework in this note we will try to help you clarify all your doubts.

What should I do if I need to formalize my project? Many entrepreneurs start in informality or enrolling in monotributo, but this is not always the best option.

When the ventures grow, the monotributo has some difficulties:

  1. Does not limit the liability of capital
  2. It does not allow having partners with rights over the enterprise.
  3. Loss of competitiveness due to its fiscal condition in front of registered executives and companies.
  4. Billing limit according to maximum Monotributo scales

 

Since the enactment of the Entrepreneurs Act, thinking about forming a society is a simpler and more accessible option for new ventures or for those who want to grow.

 

Advantages of undertaking through a society

Thanks to the Law of Entrepreneurs and some changes in the constitution of companies, opting for a SRL, a traditional SA or a Society for Simplified Shares or SAS (a new type of company created by the Law of Entrepreneurs) begins to be an option for The entrepreneurs.

Due to the recent simplification in the constitution of the companies in the IGJ and in the Public Registries of Commerce of some cities of the interior, having a company is an online, simple and accessible procedure that will allow to start billing in just 24 hours.

 

What changes in your venture when you embark on a partnership?

  • formalize the operation,
  • the patrimonial responsibility of the partners is limited to the capital contributed
  • you frame the activities to be done
  • you do not have a billing limit
  • You can work with large companies, which usually do not take monotributist suppliers.
  • You can open a bank account easily and quickly
  • Wide Object. The activities of the company do not need to be directly related
  • In the commercial area, it transmits greater confidence and structure to clients and potential

 

When should I opt for a company?

If you belong to one of these groups, we recommend opting for the constitution of a company,

  • If you are starting and are more than two partners.
  • If you are monotributista and your venture grew
  • If you are going to be a provider of «large» companies

 

What has a SAS that does not have an SRL?

SAS are an even simpler alternative to SRLs. They allow to formalize the operation and give a corporate structure to the enterprise.

Its advantages are:

  • Constitution and CUIT in 24 hours
  • All online procedures: renewal of authorities, books and everything else is digital.
  • There is no need to have a partner to set it up
  • Contribution of only 2 vital and mobile salaries ($ 17,720)
  • A broad corporate purpose, meaning that the company can engage in activities that may or may not be related to the same business, as long as they are specified in the Corporate Agreement.
  • No limits on billing.

 

Do I need to hire an accounting firm and a law firm to set it up?

Although this type of procedure could be self-managed in some way, it is important to bear in mind that constituting a company implies defining a statute which will be the legal framework through which the decisions and actions of the company and its members will be regulated. Therefore, it is advisable to give prior advice which provides the tools to draw up a partnership agreement that meets the needs, consider the present and future situations that may arise in the life of society.

The times will be fulfilled as long as the specified requirements are met and if you do not have experience in the subject, it is more likely that those times will be delayed.

Therefore, having the advice of suitable professionals allows you to avoid risks and save time.

In Barrero & Larroudé we can help you both in the constitution of society and in the management of it. We work together with several law firms and we help you with online tools to facilitate corporate management

 

If you want to set up a company, what data will you request?

These are simple data: Personal data, purpose of the company (to which it will be dedicated), Legal and Fiscal address, who will be the shareholder and directors of the company and the contribution of each partner, and how the decisions will be deliberated.

 

What are the taxes that affect this type of company (SAS)?

Having a SAS or an SRL / SA is the same at the tax level. Both are affected by the same tax burden and are liquidated in the same way.

 

In summary…

Constitute a company is the best response to face the growth and formalization of entrepreneurship.

Doing it in a particular way may not be enough, since the guidelines of that society are established at the time of the constitution and if you do not have the appropriate knowledge, you are exposed to future problems.

If you think you need to form a company, at Barrero & Larroudé we can help you. Write to comunicacion@c0560221.ferozo.com and we will gladly advise you on the constitution and management of your company.

 

Author: Juan Manuel Barrero

Partner of Barrero & Larroudé

President of UNAJE

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