Key information

In this regard, many people, with the intention of starting a business, easily incorporate an SAS company.

It is very common to see recently graduated professionals, encouraged by the entrepreneurship promoted in their universities, first associate with classmates to create a Simplified Joint Stock Company (SAS) because of how easy it is to create. In this way, they seek to make their dreams of becoming independent entrepreneurs and their own bosses a reality. Without a doubt, it is a very sound option. However, after creating the company and giving legal life to a new entity, frustration sometimes follows because, for some reason, the corporate purpose of the SAS cannot be carried out.

At that moment, the promoters must decide whether to continue or close the company.

When creating an SAS, it is necessary to consider not only its creation but also its possible, and sometimes premature, termination. Like individuals, SAS companies are born and die.

However, the act of terminating an SAS is often not taken into account, either because of optimism that it will never happen, simple forgetfulness, lack of foresight or mere neglect.

The Chambers of Commerce, the DIAN and municipal treasury offices have many records of SAS companies that came into legal existence but never operated or carried out their corporate purpose and still remain active. Their creators simply forgot about them.

If an SAS is still “alive,” it remains, until its liquidation and dissolution, subject to rights and obligations — and the obligations are almost always greater than the rights.

Even if the company has not carried out a single transaction or activity, from the moment it is created it acquires immediate obligations, especially before oversight entities such as the DIAN, treasury secretariats or municipal tax offices, Chambers of Commerce and others. These obligations end only with the dissolution and liquidation of the SAS, as well as the cancellation of the RUT before the DIAN and the RIT before the Treasury Secretariat. It should be remembered that even if a company carries out no transactions of any kind, at a minimum it is required to renew its registration annually at the Chamber of Commerce, file an income tax return and file municipal taxes.

Many SAS companies are in this situation or are about to be, and it must be taken into account that responsibility falls directly on their promoters and legal representatives.

If your SAS is in this condition, the best course is to close it properly.

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