Why Americans Love the SASU
The SASU is the French equivalent of a single-member LLC with corporate tax election. You get liability protection, can pay yourself dividends (lower social charges than salary), and have clean accounting that French clients respect — critical for consulting mandates.
SASU vs Auto-Entrepreneur — Which Is Right for You?
Auto-Entrepreneur / Micro
Best for: Starting out, low revenue, testing the market
Revenue cap: €77,700/yr (services)
Tax: Versement libératoire or IR
Charges: 22% flat on revenue (no revenue = no charges)
Accounting: Simple spreadsheet
SASU ★ Recommended
Best for: Established consultants, €50K+ revenue
Revenue cap: None
Tax: IS (corporate) 15-25%
Charges: Only on salary drawn — zero charges on retained profits
Accounting: Full bookkeeping + annual accounts required
How to Create a SASU — Step by Step
- Step 1 — Draft Statuts: The founding articles of association. Can use a model template from INPI or hire an accountant (~€500-1,500)
- Step 2 — Deposit Share Capital: Open a temporary bank account and deposit your capital (minimum €1, but €1,000+ recommended)
- Step 3 — Publish Avis de Création: Legal notice in a Journal d'Annonces Légales (~€150-200)
- Step 4 — Register on Guichet Unique: Submit all documents to INPI's online portal (inpi.fr). Replaced CFE in Jan 2023
- Step 5 — Receive your SIRET/SIREN: Your 14-digit business registration number — typically within 5-10 business days
- Step 6 — Open Business Bank Account: Required within 8 days of SIRET receipt. Consider Qonto, Shine, or traditional banks
- Step 7 — Appoint an Accountant: Legally optional but practically essential. Budget €1,500-3,000/year
SASU Tax Strategy — Salary vs. Dividends
The most powerful feature of the SASU is the ability to split remuneration between salary and dividends. Here's how it works:
Taking a Salary (Rémunération)
As Président de SASU, you are an "assimilé salarié" — you pay full employee AND employer social charges (~75% on top of net salary). BUT you get full French social coverage: health, retirement, unemployment (with salary). Salary is deductible from corporate profit.
Paying Yourself Dividends
Dividends come from post-tax corporate profit. They are subject to the flat tax (PFU) of 30% (12.8% income + 17.2% social levies). No employee charges on dividends — major saving vs. salary. But no social coverage generated.
Optimal Strategy for Most Consultants
Pay yourself a modest salary (enough to qualify for full social coverage — roughly SMIC or 2× SMIC), then distribute the remainder as dividends. Work with a French accountant to model your specific situation.
US Tax Implications of Owning a SASU
Critical: Your SASU Triggers US Reporting Obligations
The IRS treats a SASU as a "foreign corporation." Even as sole owner, you may face significant US reporting requirements that many Americans discover too late.
- Form 5471: Required if you own ≥10% of a foreign corporation (which you do — 100%). Filed annually with your 1040. Failure-to-file penalty: $10,000 per year
- GILTI Tax: Global Intangible Low-Taxed Income. May apply to your SASU profits depending on structure and elections made
- Check-the-Box Election: You can elect for your SASU to be treated as a "disregarded entity" (like a sole proprietorship) for US tax purposes using Form 8832. This simplifies US filing significantly — recommended in most cases
- FBAR: The SASU's French bank accounts must be reported on FBAR if balances exceed $10,000
- Foreign Tax Credit: French IS (corporate tax) paid can generally be credited against US taxes on the same income
Banking for Your SASU
Qonto
The most popular neobank for French entrepreneurs. Excellent app, instant IBAN, English interface, integrates with accounting software. From €9/month.
Shine
Built specifically for auto-entrepreneurs and SASUs. Includes basic accounting features. Good for solo consultants.
Traditional Banks
BNP Paribas, Société Générale, Crédit Agricole — slower to open, more paper, but good for clients who expect traditional banking relationships.
FATCA Warning
Some French banks still refuse American account holders due to FATCA compliance costs. Neobanks (Qonto, Shine) are generally more accepting of Americans.
Annual SASU Obligations
- Bookkeeping: Full double-entry accounting required throughout the year (hire an accountant)
- Bilan Annuel: Annual financial statements (P&L + balance sheet) prepared and filed by accountant
- Assemblée Générale: Annual general assembly (just you, as sole shareholder) to approve accounts — documented in minutes
- Déclaration IS: Corporate tax return (Liasse Fiscale) — typically filed May/June for prior year
- TVA Returns: Monthly or quarterly VAT returns if you're VAT-registered (mandatory above certain thresholds)
- DSN: Monthly social declaration (Déclaration Sociale Nominative) if paying yourself a salary
- Dépôt des Comptes: Annual accounts must be filed at the Greffe du Tribunal de Commerce
Key Resources for SASU Creation
INPI Guichet Unique
Official French business registration portal — file your SASU creation here
BPI France
French public investment bank — grants, loans, and support for entrepreneurs
Shine — Business Banking + SASU Creation
Online bank that also helps you create your SASU directly
Qonto — Business Banking
Most popular business neobank for French SMEs and consultants
IRS Form 5471 Instructions
Official IRS guidance on foreign corporation reporting requirements