Is it compulsory for an SAS to open a business bank account?
A pro account to deposit your share capital
To register your SAS (simplified joint stock company), you need to open a business bank account. The SAS must have a separate bank account from those of the partners.
When setting up an SAS, you are required to deposit the company's funds in a blocked account. Entrepreneurs contact the bank of their choice to deposit the share capital. Share capital cannot be deposited in a specific bank account.
A company's share capital is the total amount of cash contributed by shareholders and associates. In exchange for these cash contributions, they receive shares in the company. The minimum share capital for an SAS is one euro. On completion of the deposit, the SAS receives a certificate of deposit from the bank.
Separating the personal and professional funds of SAS directors
It is not possible for a manager to combine a personal account with the company's cash position. It is mandatory toopen a SAS pro account. The tax authorities require a separation between the executive's personal finances and the company's accounts. With a bank account dedicated to the SAS activity, there is no risk of errors in the company's accounting. The chartered accountant is able to carry out tax declarations with ease.
The advantages of a business bank account for an SAS
There are several advantages to opening a bank account for an SAS. It can be an online business account, or one with a traditional bank such as Crédit Agricole, Banque Populaire or Caisse d'Epargne. An SAS business account offers several advantages for the manager:
- Autonomy in setting up transfers and direct debits ;
- Mobile banking application ;
- Visa or Mastercard Business ;
- Financing solutions for the development of your SAS ;
- Cash investment solutions to make your cash grow;
- Negotiated exchange rates;
- Collection systems tailored to your SAS needs: bank terminal, mobile application, simplified check remittance, etc.
Services may vary from one bank to another.
Opt for autonomy with online banking
The SAS is a legal form for entrepreneurs looking for flexibility and agility in their day-to-day cash management. An online business account is an attractive solution, as it enables the manager to carry out all banking operations without having to visit a branch. This gives them considerable autonomy. This time-saving feature is not to be underestimated.
One of the advantages of online business accounts is reduced banking fees. To save money, an online bank is an excellent solution. Traditional banks offer 100% digitalized services, as do neo-banks such as Qonto and Shine.
What banking services does your SAS need?
To find the best bank for your SAS, you need to ask yourself about the banking services you require:
- What means of payment do you need? Checkbook, one or more credit cards, etc.
- What level of banking support is required for your SAS?
- Which banking services are useful for your day-to-day banking? Billing modules, cash terminal, currency exchange, etc.
A simplified joint-stock company is required to open a business bank account. To choose the right bank, it's important to be aware of your needs in terms of banking services.
Supporting documents to open a business account for an SAS
To open a business bank account in the name of your SAS, you need to prepare certain documents for the bank:
- Partners' national identity card or passport ;
- Proof of SAS domicile (energy bill, lease, etc.);
- The draft articles of association of the SAS ;
- A Kbis extract less than three months old to certify SAS registration.
Written by our editorial expert
July 31, 2024
