SASU is a legal form which is attracting more and more entrepreneurs for its flexibility and ease of management. Even if this legal form is not very regulated, it still needs to respect some very specific formalities at the time of its creation, especially with SASU’s capital deposits. Done by the sole shareholder on a dedicated account, its amount will be blocked till the registration of the company. So how to proceed with SASU’s capital deposit? We uncover everything for you!
SASU Capital Deposit: What does the law say?
Reminder on Share Capital of SASU
SASU’s share capital is its early legacy.
It is they that will be used exclusively to ensure its operation during the first year, but above all that will allow you to build your company.
The law does not provide a minimum or maximum share capital for SASU, so you can start with just… 1€! And to give you even more freedom, you can also provide variable capital.
SASU. depositing share capital in
When forming a SASU, the sole shareholder (or chairman) must issue at least half of the company’s share capital. That is to say, he has to deposit at least 50% of the cash contribution in the hands of an authorized third party that he intends to invest in his company. After that he has 5 years to release the rest of the money.
This SASU capital deposit pertains to cash contributions only. In fact, for contributions in kind, the transfer of ownership occurs only if the company is registered (Article L. 225-3 of the Commercial Code).
Where to deposit the share capital of SASU?
The sole shareholder shall deposit the capital of his SASU in a blocked account specially dedicated for this purpose. For this funds can be remitted to 3 types of actors:
- on a traditional pro account or an online pro account;
- a notary;
- Cais des Depots et des Consignments (CDC).
The choice of custodian is done at the discretion of the person paying the money. In most of the cases, this happens near a banking establishment. This is the fastest and cheapest option. By choosing a modern banking player, you can deposit your capital online and receive your certificate in an average of 72 hours!
However, if your SASU is formed with a notary, it is logically up to him that the capital will be credited. Finally, note that if you go through LegalTech to complete the processes for creating an online SASU, the latter often has partnerships with bank players, and capital deposits are often included in the formula.
What does it mean to deposit SASU’s capital?
The money must be paid by the depositor (sole shareholder or chairman of the SASU) within 8 days from the date of receipt of:
- in cash ;
- by cashier’s check issued by an establishment in France;
- telegraphic transfer.
It should be noted that CDC only accepts cashier’s checks issued by a French establishment that contain proof of origin of the funds.
Once you have your deposit, the custodian gives you a certificate of capital deposit. The latter mentions:
- the name or denomination of your future company;
- Registered office address;
- the amount paid;
- Contact details of the sole shareholder.
The capital deposit of the SASU must be made prior to the signing of the Articles of Association, the latter indicating the terms of its payment.
What are the documents required for capital deposit of SASU?
When depositing capital of SASU, you will need to provide a series of supporting documents:
- deposit request;
- Complete draft of your SASU statutes, dated less than one year old. You will find our model here;
- Certificate of payment of deposit and origin of funds;
- an ID;
- List of subscribers: This is not really relevant at SASU, you can only provide your first and last name as well as the amount of your contribution;
- SASU head office and sole shareholder’s address.
How to transfer share capital to SASU Bank Account?
To be able to access the funds deposited, you can sign your Association of Associations and file your SASU’s registration file.
Once the construction formalities are complete, you will receive a Kbis quote which you need to submit to the bank, notary or CDC, so that your capital will be returned to you. This operation can take time, count on average 15 days. Once released, you can deposit the amount in a professional current account opened in the name of SASU. Finally, after the share capital of the SASU is released into the current account of the company, the sole shareholder or chairman can dispose of it as he sees fit!
If the SASU is not created or registered within 6 months of depositing the capital, you can request a refund of the amount paid. You only need to provide a certificate of non-registration or denial of registration from the Clerk of the Commercial Court.
case of liability to restructure capital
A rare process, but not impossible, you may find yourself obliged to do to restructure your SASU’s share capital. This is when you are incurring large losses which result in reduction of equity (assets of the company), reducing their amount to less than half of the registered capital.
In this situation, there are 2 solutions available to you:
- Regularize the position within 2 years (end of second financial year);
- SASU disbanded.
general question
Who can deposit the share capital of SASU?
Sole partner or future president. The contact details of the person making the money deposit should be provided in all cases.
What is the minimum amount of SASU share capital deposit?
There is no legal minimum for SASU’s share capital. So you can make it out of the symbolic Euro.