SA is a legal entity in France, fully called Société Anonyme, belonging to the merged ownership and is a limited liability company. It can participate in the market publicly, and shareholders must have at least seven at the time of establishment. At least one director is required, and there is no need to designate a legal representative or have a local person serve as a director, nor is there a need for a company secretary. The minimum registered capital is 37,000 euros, but capital verification is required. In order to manage and supervise the operation of the company, an SA needs to establish a board of directors and a board of supervisors.