Capital deposits
When creating a new company, you need to deposit its share capital before registering the company.
Capital deposits are currently available for companies being incorporated in France.
The capital deposit process involves several stakeholders:
- You, the partner using Swan
- Your user, including the future company and its shareholders
- Swan and the Swan API
- The notary
The main actions are:
- Create a capital deposit case
- Create the company and shareholder accounts
- Complete identity and account holder verification
- Upload the required documents
- Transfer the capital funds
- Register the company
- Release the funds to the company account
See Manage a capital deposit case for the Dashboard flow.
Overview
The Partner Dashboard shows the progress of each capital deposit case. The technical guides explain how to create a case, upload documents, update information, and cancel a case.
| Guide | Description |
|---|---|
| Manage a capital deposit case | Monitor and manage a case through the Dashboard. |
| Create a capital deposit case | Create a case and the associated company and shareholder onboardings through the API. |
| Upload required documents | Upload, replace, and monitor capital deposit documents. |
| Update a shareholder's deposit amount | Update the expected capital deposit amount for a shareholder. |
| Update company information | Correct company information linked to a capital deposit case. |
| Cancel a capital deposit | Cancel a case and review its cancellation reason. |
Capital deposit case
The CapitalDepositCase API object contains the information for a capital deposit case, including:
- Details about the future company
- Company account information
- Shareholder information
- Capital deposit documents
Case statuses
| Case status | Explanation |
|---|---|
WaitingForInitialRequirements | The case is waiting for shareholder verification, capital transfers, document uploads, and completion of company onboarding. |
PendingInternalReview | Swan is reviewing the information and documents provided. |
WaitingForAdditionalInformation | Swan has requested additional information or corrections and is waiting for a response. |
WaitingForNotaryShareDepositCertificate | The notary is reviewing the deposited funds and submitted documents before issuing the capital share deposit certificate. |
WaitingForRegisterExtract | The partner uploads the company's KBIS for review. |
WaitingForNotaryTransfer | The notary reviews the KBIS. If Swan or the notary refuses the document, the case returns to WaitingForRegisterExtract. |
Canceled | The case was canceled before completion by the partner or Swan. A cancellation reason code is available in CapitalDepositCaseCanceledStatusInfo. |
Completed | The notary approved the case and transferred the funds to the company account. This status confirms that the capital deposit case is complete, but it does not confirm that the company account is active. |
Cancellation reason codes
When a capital deposit case has the status Canceled, a reason code is available on the CapitalDepositCaseCanceledStatusInfo type.
Capital deposit cases canceled before 2 April 2026 originally had a null cancellation reason at the capital deposit level and mapped to the account-level deprecated closure reason CapitalDepositReason.
As of June 2026, Swan migrated these cases to the new cancellation reason codes.
| Reason code | Explanation |
|---|---|
KYCIssue | Documents are missing or incorrect, or the requested information wasn't provided. |
ForbiddenActivity | The company operates in a prohibited business sector. |
DuplicateOnboarding | A second account was created by mistake. |
DeniedCountryResidency | A beneficial owner (UBO) or resident is located in a restricted country. |
RefusedIbanCountry | The country associated with the IBAN isn't supported. |
CompanyRegistrationCountryNotSupported | The company's country of registration isn't supported. |
BusinessInactiveOrNotRegistered | The company is inactive or not registered. |
UnsupportedLegalForm | Swan can't onboard this legal form. |
TCViolation | The account holder violated the terms and conditions. |
CapitalDepositWithdrawn | The capital deposit was withdrawn. |
CapitalDepositRefusedByNotary | The notary refused the capital deposit case. |
ComplianceReason | The case was canceled for compliance reasons. |
RegulatoryRequirement | The case was canceled because of a regulatory requirement. |
These reason codes are derived from the same list as the account closure reason codes.
Required documents
Swan needs several documents to process a capital deposit.
Upload documents as soon as they become available. Document upload can take place in parallel with shareholder onboarding and KYC.
Documents need to meet Swan's requirements. If a document doesn't meet these requirements, Swan assigns it the Refused status, and you need to upload a replacement.
See Upload required documents for the technical upload process.
List of required documents
The following table lists the documents that may be required. You upload some documents, Swan collects others during onboarding and identification, and the notary uploads the capital share deposit certificate.
| Stakeholder | Document | API document type | How it is collected | Attached to |
|---|---|---|---|---|
| Individual shareholder | Proof of address | ProofOfIndividualAddress | You upload it with generateCapitalDepositDocumentUploadUrl. | shareholders[].documents |
| Individual shareholder | Proof of identity | ProofOfIdentity | Swan collects it during identification after onboarding is finalized. | The account holder's supporting document collection |
| Company shareholder | Commercial registry extract issued within the last three months | RegisterExtract | Swan collects it during company onboarding. | The account holder's supporting document collection |
| Company shareholder | Proof of identity for the legal representative | ProofOfIdentity | Swan collects it during identification when the legal representative is the account administrator. | The account holder's supporting document collection |
| Future company | Draft articles of incorporation | ArticlesOfIncorporation | You upload it with generateCapitalDepositDocumentUploadUrl. | capitalDepositCase.documents |
| Future company | Lease agreement for the registered office | CompanyLeaseAgreement | You upload it with generateCapitalDepositDocumentUploadUrl. | capitalDepositCase.documents |
| Future company | Power of attorney from the legal representative to Swan | PowerOfAttorney | You upload it with generateCapitalDepositDocumentUploadUrl. | capitalDepositCase.documents |
| Future company | Capital share deposit certificate | CapitalShareDepositCertificate | The notary uploads it. | capitalDepositCase.documents |
| Future company | Commercial registry extract, or KBIS, issued after incorporation | RegisterExtract | You upload it with generateCapitalDepositDocumentUploadUrl after incorporation. | capitalDepositCase.documents |
Registered office without a lease agreement
If the future company doesn't have a lease agreement as proof of its official company address, provide the documents required for its situation.
All identity documents need to be in full color and include the front and back of the document.
| Official company address | Additional documents |
|---|---|
| The legal representative's address | Business address affidavit from the legal representative. If the legal representative isn't a shareholder, also provide their identity document and proof of address. |
| The legal representative's address, but the representative rents the property or is hosted by someone else | Business address affidavit from the host. If the legal representative isn't a shareholder, also provide the legal representative's identity document, the host's identity document, and the host's proof of address. |
| Another company's office address | KBIS for the host company issued within the last three months, a business address affidavit from the host company's legal representative, and the identity document of the legal representative who provided the affidavit. |
Document statuses
| Document status | Explanation |
|---|---|
Pending | A place for the document has been created, but the document hasn't been uploaded. |
Uploaded | The document was uploaded successfully. Swan reviews it and either validates or refuses it. |
Validated | Swan validated the document. |
Refused | The document doesn't meet the requirements. Review reasonCode for the refusal category and reason for the optional plain-text explanation. Both are visible in the Dashboard and available through the API. Upload a replacement document to return the status to Uploaded. |
Shareholders
A shareholder is an individual or legal entity that deposits funds in exchange for ownership of the future company.
To deposit funds, each shareholder opens a temporary Swan payment account.
Each shareholder needs to complete the onboarding, identification, and account holder verification processes.
Once the required steps are complete, the shareholder receives an IBAN to use for the capital transfer.
Shareholders need to provide proof of their residence address. Only official documents are accepted. See the list of acceptable documents in the Partnership Document Center.
Shareholder statuses
| Shareholder status | Explanation |
|---|---|
PendingOnboarding | The shareholder was created and needs to complete onboarding before continuing. |
WaitingForVerification | Account holder verification isn't complete. This status is bypassed when the account holder status is already Verified. |
WaitingForTransfer | The shareholder needs to transfer the full expected capital deposit amount to their Swan account. The transfer needs to come from an account held in the shareholder's name and needs to be a SEPA Credit Transfer. |
CapitalTransferred | The shareholder's capital has been received, but the rest of the capital deposit case still needs to be completed. |
CapitalFundsWiredToNotary | The shareholder's funds have been transferred to the notary, but the rest of the capital deposit case still needs to be completed. |
CapitalDepositCanceled | The capital deposit case was canceled. If a shareholder account was already created, Swan closes the account as part of the cancellation process. |
Transfer requirements
Shareholder accounts have specific transfer requirements for capital deposits.
SEPA Credit Transfers only
Shareholder accounts only accept SEPA Credit Transfers for capital deposits.
International credit transfers are rejected automatically before settlement, regardless of the amount. Make sure all transfers are sent from an account held in the shareholder's name.
Sequence diagram
Update a shareholder's deposit amount
You can update a shareholder's deposit amount through the API.
Updating a shareholder's deposit amount automatically recalculates the total capital deposit amount for the case.
See Update a shareholder's capital deposit amount.
Update company information
You can update the main company information linked to a capital deposit through the API.
This allows you to correct the company name and postal address without contacting Swan Support.
Updating these fields synchronizes the data across the capital deposit case and the associated account holder.
See Update a capital deposit company.
Cancel a capital deposit
You can cancel an ongoing capital deposit when cancellation is still available, which is any time before all the capital transfers are made.
When a capital deposit case is canceled, associated shareholder accounts will also be closed.