Capital deposits

Initial funds invested to start operations for a new company, involving required documents, shareholder information, and legal processes.

When creating a new company, you're required to deposit your share capital before registering the company.

Overview

Several key stakeholders are involved in the capital deposit process: you; your client, their future company, and their shareholders; Swan (and Swan's API); and Swan's partner notary.

The capital deposit process consists of a few main actions:

• Creating a Swan capital deposit case to collect everything
• Creating Swan accounts
• Verifying identities
• Uploading documents
• Transferring funds

Learn more about the stakeholders and their interactions to complete a capital deposit on this page before continuing to the guide for 🇫🇷 France.

Capital deposit case

The CapitalDepositCase API object compiles all information for a capital deposit case, including:

1. Details about the future company
2. Company account
3. Shareholder information
4. Capital deposit documents

Case statuses

Case status	Explanation
WaitingForRequirements	Default status after the CapitalDepositCase is created, providing there were no technical issues. You complete the company onboarding process and upload required documents to pass to the next status.
WaitingForShareDepositCertificate	Notary reviews the deposited funds and submitted documents, then creates the certificate and uploads it to Swan.
WaitingForRegisterExtract	You upload your register extract for notary review.
WaitingForNotaryTransfer	Notary reviews the register extract.
Canceled	You can request to cancel a CapitalDepositCase any time before completion by sending an email to support@swan.io. When a case is canceled, the shareholder is also canceled.
Completed	Notary reviewed and approved all elements and transferred the funds to the new company; the process is complete.

Required documents

Processing your capital shares deposit requires several documents. These can be uploading using the API. Documents must meet Swan's requirements; otherwise, the document will be assigned the status Refused and you'll need to upload the document again.

List of required documents

All documents are mandatory unless marked if requested.

Stakeholder	Document	API document type
Individual shareholders	Proof of address	ProofOfIndividualAddress See proof of address section
	Identity document proving the shareholder's identity (collected during identification)	ProofOfIdentity
Company shareholders	Document available only after the notary validates the case, uploaded during at a specific time during the capital deposit process	RegisterExtract
	Draft of the articles of incorporation	ArticlesOfIncorporation
	Company's most recent tax statement (if requested)	CorporateIncomeTaxReturn
	Identity document proving the shareholder's identity (collected during identification)	ProofOfIdentity
Future company	Draft of the articles of incorporation	ArticlesOfIncorporation
	Lease agreement for official company address	CompanyLeaseAgreement
	Lease Mandate from legal representative	PowerOfAttorney Template available in French

Document statuses

Document status	Explanation
Pending	Place for the document is created, but the document isn't uploaded yet.
Uploaded	Document successfully uploaded; you can change and re-upload the document as long it retains the status Uploaded Next step: Swan reviews the document and either validates or refuses it.
Validated	Swan validated the document.
Refused	Document doesn't meet requirements. Next step: Upload a new document, then the status returns to Uploaded.

Shareholders

A shareholder is a physical or legal person who deposits funds in exchange for ownership of the future company. In order to deposit funds, the shareholder opens a temporary Swan payment account.

Because they're opening an account, each shareholder must go through the onboarding, identification, and account holder verification processes. After completing requirements, the shareholder's account is assigned an IBAN they can use to deposit funds.

As soon as the CapitalDepositCase is complete, the shareholder's temporary account closes automatically.

Proof of address

Shareholders must provide proof of their residence address. Only official documents will be validated.

Acceptable documents:

1. Are one of the following document types:
   1. Internet or utility (water, gas, electricity) bill.
   2. Latest tax notice (issued by a tax authority with details about taxes due).
   3. Latest housing tax notice.
   4. Professional rent receipt.
   5. Home insurance provider statement.
   6. Utility provider statement.
2. Include the shareholder's full name and residence address.
3. Are officially issued from:
   1. A utility services provider for water, energy, internet, or housing phone bills.
   2. A government authority.
   3. A professional lessor for rent receipts.
4. Are fewer than three months old, or the latest document issued from a government authority.

document support

If you aren't sure a document complies with these requirements, please send an email to kyc@swan.io.

Shareholder statuses

Shareholder status	Explanation
PendingOnboarding	Default status after the shareholder is created; shareholder must complete their onboarding and their account must be created to continue.
WaitingForVerification	Possible status if the account holder verification isn't complete at the moment the shareholder's account is created. Status bypassed if the account holder status is already Verified.
WaitingForTransfer	Waiting for the shareholder to deposit the full share capital in their Swan account created during onboarding, which must be transferred from an account belonging to the shareholder.
CapitalTransferred	Waiting for the rest of the capital deposit case to be ready and the funds to be transferred to the notary.
CapitalFundsWiredToNotary	Still waiting for the rest of the capital deposit case to be ready, but now the funds are with the notary.
CapitalDepositCanceled	When a CapitalDepositCase is Canceled, the shareholder status changes to CapitalDepositCanceled. If an account was already created for the shareholder, the account is also closed automatically.

Sequence diagram

Canceling a capital deposit

If needed, it's possible to cancel an ongoing capital deposit.

All of the following conditions must be met:

1. The capital deposit case status is WaitingForRequirements.
2. Your shareholders can't have the shareholder status CapitalTransferred.
3. The shareholder account's booked balance is zero (0).

Follow the guide to cancel a capital deposit.