Glossary · Colombia
S.A.S. (Sociedad por Acciones Simplificada)
Definition
The flexible corporate form, introduced in 2008, that nearly every Colombian startup incorporates as. Its bylaws can freely embed transfer restrictions, rights of first refusal, and tag/drag provisions.
Why it matters for a secondary
Reading the S.A.S. bylaws and shareholders’ agreement is the first step in any Colombian secondary — they, not a regulator, set the rules.
Frequently asked questions
Does this term apply the same way everywhere in Latin America?
No. Each country in this glossary has its own regulator, corporate forms, and tax rules — this term is specific to the country tagged above. Check the linked country page for the fuller picture.
Is this legal or tax advice?
No. This is orientation for investors and allocators, not legal or tax advice. Confirm current rules with a licensed adviser in the relevant country before acting on anything here.