La sociedad por acciones simplificada: una nueva estructura para hacer negocios en las Américas
| Autor | Jeannette M. E. Tramhel |
| Páginas | 137-170 |
Agenda Internacional
Año XXIV N° 35, 2017, pp. 137-170
ISSN 1027-6750
e Simplified Joint Stock Corporation:
A New Structure for Doing Business in the Americas?*
Jeannette M.E. Tramhel**
A
is article is an introduction to the OAS Model Law on the Simplied Corporation (SAS).
As a simple and easy alternative corporate form that reduces complexity and hence, also the
cost, the SAS extends the availability of incorporation to all business operations, particu-
larly MSMEs, and so serves an important function in encouraging formalization. e article
reviews the benets associated with formalization, simplication of the process of business
registration, and explains key elements of the Model Law in light of emerging global best
practices.
Keywords: Simplied corporation, SAS, simplied incorporation, formalization, model law,
private international law, Organization of American States (OAS)
La sociedad por acciones simplicada: una nueva estructura para hacer negocios en las
Américas
R
Este artículo es una introducción a la Ley Modelo sobre la Sociedad por Acciones Simplicada
(SAS) de la OEA. La SAS es una estructura societaria que constituye una alternativa sencilla
y fácil, pues reduce la complejidad y, por lo tanto, los costos para su formación y funciona-
miento. Por ello, ofrece la posibilidad para la constitución de toda clase de empresas industriales
* Strike-through is not erroneous; simplication —in every aspect, including descriptive titles— will improve
accessibility to the governing concepts, laws, regulations and the prevailing legal system that enable incorporation of
business entities. See text accompanying footnote 14, infra.
** Senior Legal Ocer, Department of International Law, Secretariat for Legal Aairs, Organization of American
States. e views and opinions expressed in this article are solely those of the author and are not intended to reect
the ocial policy or position of the Organization of American States or the Secretariat for Legal Aairs. e author
gratefully acknowledges research assistance provided by Eduardo Roberto Arroyo Lima, OAS Intern, January-May,
2017.
https://doi.org/10.18800/agenda.201701.008
138 Jeannette M.E. Tramhel
Agenda Internacional, XXIV (35) 2017
o comerciales y, en particular, a las mipymes. De ahí que cumpla una importante función para el
fomento de la formalización empresarial. En este artículo se analizan los benecios relacionados
con la formalización y la simplicación del proceso de registro de empresas y explica, así mismo,
los elementos básicos de la Ley Modelo a la luz de las mejores prácticas globales emergentes.
Palabras clave: Sociedad por Acciones Simplicada, SAS, simplicación del proceso de regis-
tro de empresas, formalización, ley modelo, derecho internacional privado, Organización de
los Estados Americanos (“OEA”)
e Simplied Joint Stock Corporation: A New Structure for Doing Business in the Americas? 139
Agenda Internacional, XXIV (35) 2017
Many people pursue a legal career out of a desire to make a dierence for the
betterment of society. Others, out of that same motivation, choose to enter the
diplomatic corps. With such ambitions, a choice to pursue public international law
would seem logical. And indeed, a eld that encompasses human rights, law of the
sea, and so much more, is one in which not only fundamental international norms,
but also important goals, are established within the legal framework comprised of
both conventional and soft law instruments.1 An important and frequently over-
looked compliment, however, is the eld of private international law, which can
provide the tools with which to actualize some of the rights and standards estab-
lished by the more familiar (and publicized) instruments of public international law.
is paper seeks to illustrate this complementarity with a recent development at
the Organization of American States (“OAS”) - the Model Law on the Simplied
Corporation (“SAS Model Law”2).
e paper is presented in three parts. It begins with a brief overview of private inter-
national law, particularly its development in the Inter-American system. e second
part will consider the SAS Model Law in the broader context and will explain the
background to its development, what it seeks to achieve and whether it does indeed
oer a new structure for doing business. e third part of the paper will examine the
SAS Model Law itself and will compare certain of its provisions in light of interna-
tional best practices and with other emerging instruments.
I. Private International Law in the Inter-American System – A Brief Overview
Private international law (“PIL”) is the body of law that regulates relationships
between private actors in an international context. ese actors can be natural or
legally created persons (such as a corporation) but they are private, rather than public
or state actors.3 e relationships can concern civil or family matters (e.g., cross-
border litigation, adoption or divorce), succession or commercial matters (e.g., inter-
national contract or bankruptcy). Just as with public international law, the legal
framework of PIL is comprised of international instruments (such as conventions
and models laws), jurisprudence, practice and custom.
1 For example, consider the International Covenant on Economic, Social and Cultural Rights (“ICESC”) and the
principle of progressive realization as articulated in Article 2 by which States shall undertake “to take steps… with
a view to achieving progressively the full realization of the rights recognized” which include, inter alia, the right to
decent work, right to an adequate standard of living, and social security. (ICESC, signed 16 December 1966, entered
into force 3 January 1976).
2 e title in Spanish is Ley Modelo sobre la Sociedad por Acciones Simplicada (“SAS”) and as the acronym “SAS”
has entered common usage both in Spanish and English, “SAS Model Law” will be used as the short title throughout
this paper.
3 Rules of PIL can also apply to a state when it assumes the role of private actor.
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