Uruguay Introduces Simplified Corporation Form

Uruguay has introduced a new company form, the Simplified Corporation (Sociedad Anónima Simplificada - SAS) as part of Law No. 19.820 on Promoting Entrepreneurs, which was published 27 September 2019. An SAS is a commercial company whose capital is represented by shares, with the liability of its shareholders limited to their respective contributions.  

One of the main benefits of an SAS is that it may be formed by one or more natural or legal persons, other than a public limited …