- published: 21 Nov 2014
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A Société à responsabilité limitée, also known by the acronym SARL (sometimes SÀRL, Sàrl or S.à r.l.), is a private limited liability corporate entity that exists in France, Switzerland, Luxembourg, Macau, Algeria, Morocco, Tunisia and Lebanon and has commerce as its purpose.
A SARL is a company whose liability is limited to the contributions of its members. Shares are not freely transferable; transfers require the agreement of half the shareholders if the beneficiary is a third party (since Ord. 2 mars 2004). If the beneficiary is a partner, a spouse, an ascendant or a descendant, the transfers are free. A SARL is broadly equivalent to a private company limited by shares ("Pvt.Ltd.") in the United Kingdom, and a Limited liability partnership in the United States.
Since the enactment of the loi du 11 juillet 1985, the SARL consists of two variants: the SARL pluripersonnelle (with at least two associates), and the EURL (one Associate). The Société d’exercice, contrary to its name, is not a SARL but a Société d'exercice libéral (SEL).
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