EU Inc vs SAS (France)
EU Inc is a proposed regulation (COM(2026) 321), not yet adopted. EU Inc figures are from the proposal and may change. SAS figures reflect current French practice.
The SAS (société par actions simplifiée) is the default vehicle for French startups: no minimum capital in practice, wide statutory freedom, and the favourable BSPCE option scheme. EU Inc would compete not on domestic ergonomics — where the SAS is already strong — but on cross-border recognition.
The comparison
| Criterion | EU Inc (proposed) | SAS (France) |
|---|---|---|
| Status | Proposed regulation, COM(2026) 321. Not adopted. | Established French form; startup default. |
| Availability | Not before ~2028. | Available now. |
| Registration cost | Capped at €100 (proposed). | Modest — filing plus mandatory legal notice; commonly a few hundred euros. |
| Registration time | Under 48 hours, fully digital (proposed). | A few days via the guichet unique / INPI. |
| Minimum capital | None (proposed). | No legal minimum (€1 possible). |
| Taxation | Not harmonised beyond option timing; corporate tax stays national. | French corporate tax (IS), 25% standard rate. |
| Stock options | EU-ESO: harmonised timing, taxed at sale; rates national. | BSPCE — well-established, founder-friendly domestic regime. |
| Investor recognition | Unproven. | Strong with French and EU VCs. |
| Cross-border reach | Single EU certificate valid across all member states. | French form; recognised abroad but not a single-market passport. |
Reading the table
On the metrics founders check first — capital, cost, speed — the SAS is already competitive, so EU Inc’s proposed figures are an incremental improvement, not a step change. The SAS’s real strengths are statutory flexibility and BSPCE, a stock-option regime French startups know well. EU Inc’s distinct offer is narrower and specific: a single registration recognised across the EU, and EU-ESO, which harmonises the timing of option taxation across member states (deferred to sale) even though rates stay national.
Note the framing: EU Inc is proposed, not law. Its cross-border advantage is theoretical until the regulation is adopted and its legal certainty is proven. Follow the legislative tracker for status.
Who should consider which
- Stay with the SAS if your company is France-centric, you value the mature BSPCE regime and deep domestic investor familiarity, or you need to incorporate now.
- Watch EU Inc if cross-border operations across several member states are central to your plan and a single European registration would remove real friction — accepting that it is not yet available.
For founders whose decisive question is US venture capital rather than French vs EU-wide, the sharper comparison is EU Inc vs Delaware C-Corp.
→ Background: what is EU Inc · options: EU-ESO · status: tracker.