The Legislative Assembly of El Salvador approved the Reform of the Commercial Code. According to the amendment, published in the Official Gazette, Decree no. 153. 153, it establishes the possibility of incorporating Simplified Joint Stock Companies (SAS), a new type of company that can be formed by a single person with a share capital of USD 1. These reforms seek to facilitate the formalization of micro, small and medium-sized enterprises (MSMEs) and informal commerce, as well as to contribute to financial and banking inclusion in the country.
For further information, please contact our expert Piero Rusconi Bolaños via email to prusconib@central-law.com
