The SAS (Société par Actions Simplifiée) must have at least one partner, who may be the Chairman, either a natural person or a legal entity (company). If the Chairman is not an employee, he is not subject to the social security charges applicable to self-employed entrepreneurs; this is an essential feature compared with the SARL or SARLU, which require the manager to pay social security contributions to the Sécurité Sociale des Indépendants scheme run by the Conseil de la protection sociale des travailleurs indépendants (self-employed entrepreneurs and managers are now covered by the general social security scheme, into which the RSI (Social Security for the Self-Employed) has been incorporated). Urssaf still exists and manages social security contributions.

The minimum share capital for an SAS is 1 euro. The company is managed by at least one director (Chairman) and the appointment of a statutory auditor is only compulsory if one of the following conditions is met: the company has more than 20 employees, pre-tax turnover exceeds two million euros or the balance sheet total exceeds one million euros. If the Chairman is a company, the statutory auditor is compulsory.