The società in accomandita semplice (S.a.s.) is a widely used type of partnership in Italy. Its structure is clear-cut: two types of partners, two levels of liability, and two key legal conditions to follow to keep it active and retain its benefits.
It’s easy to set up, has low ongoing costs, and risks are usually concentrated on just one type of partner. If you're looking to understand exactly how an S.a.s. works–including the finer details (Do you need a business account? What happens if the business fails?)–this guide is for you.
Summary
What is an S.a.s.?
The società in accomandita semplice (S.a.s.) is one of the main partnership structures in Italy, alongside the società semplice (S.s.) and the società in nome collettivo (S.n.c.).
An S.a.s. does not have legal personality or full asset separation, but it offers flexibility in both business management and capital contributions. The company name (ragione sociale) must include the name of at least one general partner (accomandatario).
To set one up, you need at least two partners, each with a distinct role: one general partner (accomandatario) and one limited partner (accomandante).
Vantaggi e svantaggi
Partiamo dagli aspetti positivi. La società in accomandita semplice offre flessibilità nella composizione dei ruoli e dei conferimenti, che possono avvenire in denaro, beni, crediti o prestazioni d’opera intellettuale e manuale.
Non c’è un capitale sociale minimo obbligatorio, né deve depositare un bilancio ogni anno. Entro certi limiti può godere della contabilità semplificata, e avviare una nuova s.a.s. è abbastanza semplice.
Let’s start with the positives. The società in accomandita semplice (S.a.s.) offers flexibility in how roles are defined and how capital is contributed–whether in cash, assets, receivables, or even manual or intellectual services.
There’s no minimum capital requirement, and it’s not required to file annual financial statements. In some cases, it can also benefit from simplified accounting, and setting up a new S.a.s. is relatively straightforward.
Soci accomandatari e accomandanti
On the other hand, general partners (accomandatari) are fully liable, meaning they risk their entire personal assets–a significant downside.
General and limited partners
An S.a.s. must always include two distinct roles:
Ogni decisione operativa di una s.a.s. spetta agli accomandatari, mentre gli accomandanti non possono trattare affari in nome della società, a meno che non ricevano una procura speciale per un affare specifico.
Gli accomandanti però hanno dei diritti, ad esempio:
Responsabilità
However, limited partners do have certain rights, such as:
Il socio accomandatario, amministratore e rappresentante della s.a.s., è illimitatamente responsabile per le obbligazioni sociali. Questo vuol dire che, in caso di fallimento dell’impresa, dovrà rispondere con tutto il patrimonio personale se necessario.
In pratica, il socio accomandatario di una s.a.s. ha le stesse responsabilità dei soci di una s.n.c. (società in nome collettivo).
This distinction in roles is crucial, as it determines each partner’s liability.
Obblighi
In practice, a general partner in an S.a.s. has the same responsibilities as a partner in a società in nome collettivo (S.n.c.).
The limited partner, however, has limited liability: they can never lose more than what they invested. This protection mirrors what shareholders enjoy in limited liability companies (S.r.l., S.r.l.s., or S.p.A.)–creditors cannot touch their personal assets, even in case of financial collapse.
Infine, una s.a.s. esiste finché ci sono almeno due soci, uno accomandatario e uno accomandante. Se viene a mancare una delle due categorie di soci, e non si trova un sostituto entro sei mesi, la società si scioglie.
Come aprire una s.a.s.
Another important detail: the company name (ragione sociale). If the name includes a limited partner’s name, that person becomes jointly and fully liable for the company’s debts, just like a general partner.
Lastly, an S.a.s. must always include at least one general partner and one limited partner. If either role is missing and not replaced within six months, the company must be dissolved.
To start a società in accomandita semplice (S.a.s.), you’ll need at least two people: one general partner and one limited partner. The partners must prepare a signed agreement, either as a notarised private contract or a public deed handled by a notary, along with a company statute.
The S.a.s. statute must include:
Conto corrente aziendale
La s.a.s. può aprire un conto corrente business per la gestione delle finanze aziendali e per il versamento di conferimenti o utili. La legge obbliga una società di persone ad avere un conto business dedicato solo se il fatturato annuo supera i 400.000 euro.
The founding deed and statute must be sent via PEC to the Business Register using the Single Communication (Comunicazione Unica)–a one-stop process that also handles:
Senza conto aziendale la contabilità diventa confusa e si corre il rischio di commettere errori. Anche agli occhi dell’Agenzia delle Entrate la gestione non chiara dei flussi finanziari può creare problemi in caso di controlli, detrazioni e deduzioni fiscali.
Vivid Money ha il conto corrente aziendale a misura della tua s.a.s.: IBAN italiano, carte di pagamento con cashback, bonifici SEPA e SWIFT, interessi sulla liquidità, strumenti di investimento, integrazione con software di contabilità e molto altro.
Costi di apertura e gestione
In practice, however, a dedicated business account is almost always essential. Anti-money laundering laws and basic tax management require that personal and company funds stay separate.
Without one, accounting gets messy, and you risk making avoidable mistakes. From the Tax Agency’s perspective, unclear financial flows can cause issues during audits or when claiming deductions.
Vivid Money offers a business account made for your S.a.s.:
Consiglio extra: per risparmiare tempo sulle attività ripetitive, molte aziende scelgono di automatizzare i processi con strumenti come i digital employees di Vivid.
Tassazione
La s.a.s. non è obbligata a depositare un bilancio annuale pubblico, ma deve presentare la dichiarazione dei redditi ogni anno. L’impresa adotta la tassazione per trasparenza: ogni anno, il reddito dell’impresa viene attribuito ai soci in proporzione alla loro quota di partecipazione.
The cost to open an S.a.s. can vary, but generally revolves around a few key items.
Notary fees for drafting the founding deed typically average around €2,000, depending on the professional and the complexity of the agreement. The registration tax adds about €200.
Contributi INPS
Running an S.a.s. comes with minimal fixed costs. If annual revenue stays below €400,000 for services or €700,000 for other activities, the company can choose simplified accounting. This helps streamline admin, cut down on paperwork, and lower annual expenses compared to full accounting.
Bonus tip: To save time on repetitive tasks, many businesses also explore automation through tools like Vivid’s digital employees.
Taxation
An S.a.s. is not required to file public annual financial statements, but it must submit an annual income tax return. The business uses a transparency tax model, meaning each year, the company’s profits are allocated to the partners according to their ownership share.
Each partner then declares their share of the income in their personal tax return and pays IRPEF (personal income tax) based on their individual tax bracket.
S.a.s. o s.n.c.?
The S.a.s. is also subject to IRAP (Regional Tax on Productive Activities), typically set at around 3.9% of company profits.
INPS contributions
The general partner (accomandatario) is always required to register with the INPS Artisans and Merchants scheme, regardless of their ownership percentage or whether they also have a separate salaried job. They must pay fixed social security contributions four times a year, plus variable contributions when paying income tax instalments and final balances.
The limited partner (accomandante), on the other hand, is not required to register with INPS or pay contributions on their ownership share–unless they are actively involved in running the business.
Scioglimento, fallimento e morte del socio
La s.a.s. si può sciogliere per alcune circostanze:
For example, my own family’s business is an S.a.s.: my father, who runs the company, is the general partner, while my mother is a limited partner with no active role in operations.
The S.a.s. is a solid choice for simple business models, especially for startups or traditional businesses that don’t involve significant financial risk. Having both general and limited partners creates a balance between those who manage and those who invest.
Se muore un socio accomandatario, la sua quota viene liquidata agli eredi, a meno di diversa indicazione nello statuto o nell’atto costitutivo. Il subentro degli eredi come nuovi accomandatari è subordinato al consenso degli altri soci. Se non si trova un nuovo accomandatario, la società si scioglie.
Compared to a società in nome collettivo (S.n.c.), the S.a.s. allows you to bring in investors who are only exposed to the capital they contribute.
S.a.s. non fallibile
The general partner, meanwhile, has the same rights and responsibilities as in an S.n.c.
Compared to an S.r.l. (limited liability company), the S.a.s. has lower setup and running costs and allows for simplified accounting.
FAQ
Can a limited partner also be an employee of the company?
This is a complex issue. In practice, the role of limited partner (accomandante) is generally incompatible with being an employee in the same company. Even though the partner doesn’t manage the business, they still share in profits and bear entrepreneurial risk.
To avoid complications—especially with tax authorities or Social Security—it’s best not to overlap these roles, as it could lead to the rejection of the employment status for tax or contribution purposes.
What risks does a partner in an S.a.s.?
A general partner (accomandatario) has unlimited and joint liability for company debts. In the event of bankruptcy, their personal assets are at risk.
A limited partner (accomandante) is a capital investor and is liable only up to the amount contributed—as long as they do not interfere in management.
If an S.a.s. goes bankrupt, who is responsible for the debts?
- General partners must repay company debts—even with their personal assets, if needed.
- Limited partners are liable only in proportion to their capital contribution.
Important: if a limited partner violates the non-interference rule (divieto di immistione) or includes their name in the company name, they lose their limited liability and will be treated like a general partner, with full personal liability.
