Opening a business account for a SASU or EURL with a neobank

Entrepreneurship is on a roll: in 2017, 591,000 new companies were created, of which 37% were SASUs and 15% EURLs. Whether you choose one or the other of these statutes, you'll need to open a business bank account, with a traditional bank or a neobank like Anytime.

Deposit share capital

If you want to set up a SASU or EURL, you need to open a business bank account. To register your company with the Registre du Commerce et des Sociétés, you need to prove the existence of your share capital by depositing it with a bank or neobank, and obtaining proof from them.

How much share capital is required for SASU and EURL?

The share capital of an EURL or SASU is usually fixed. The minimum amount is 1 euro. There is no maximum amount.

In the case of a cash contribution, at least 1/5th of the amount must be paid when the company is incorporated, and the remainder within 5 years.

This share capital is used to finance the launch of the company. It is also intended to reassure your suppliers of your company's solvency. It is important not to set it too low.

How do I register my share capital to open an EURL or SASU with a neobank?

Once you have determined the amount of your share capital, deposit it in an escrow account.

At Anytime, you can take this step online, and obtain your certificate of capital deposit directly.

You must first complete an online questionnaire, and attach the following supporting documents: + proof of identity, + proof of address dated less than 3 months in your name, showing your home address (electricity bill, gas bill, water bill, last tax assessment, fixed-line or ADSL telephone bill), + copy of your company's lease, + initialled and signed PDF version of your company's articles of association.

Once we have received your application, Anytime will provide you with the IBAN of the notary's escrow account. You can then make the transfer corresponding to the amount of capital entered in your articles of association.

Once the funds have been received, the certificate of capital deposit is sent to you by e-mail and by post.

This certificate enables you to apply for a Kbis certificate, and thus register your company. Processing time for your complete application varies from 2 to 10 days after submission.

To make life easier for you, Anytime collects your Kbis and statutes from the registry. These documents enable us to finalize the opening of your business account, to which your share capital can now be transferred.

What is a SASU?

The SASU is a Société par Actions Simplifiée Unipersonnelle. You are the sole shareholder, unlike the SAS, which requires at least 2 partners.

In a SASU, the chairman is an employee. He or she is affiliated to the general social security system. This is the only corporate status that allows this. You benefit from the same social protection as any other employee, and the same old-age insurance. You are better covered, but your contributions are more expensive than those of an EURL. You should also be aware that you cannot benefit from unemployment insurance.

Your social security contributions are calculated on the basis of your earnings. Without remuneration, you have no contributions to pay, but you are no longer affiliated to any social protection scheme.

Your liability is limited to the amount of your contributions, except in the case of mismanagement, when it may be extended. You run fewer risks than in a EURL.

On the other hand, you have a number of obligations to fulfil: filing annual accounts, drawing up a payslip, declaring monthly or quarterly contributions, formalities linked to changes to the articles of association, decisions by the sole shareholder to be recorded in a register of decisions and minutes to be drawn up and sent to the CFE.

The SASU tax system

When you set up a SASU, you are automatically subject to corporation tax (IS) on your profits. IS applies above a certain threshold, and is calculated by a system of brackets. In 2018, IS is 28% up to 500,000 euros, and 33.33% above that. From 2019, this rate will be reduced to 31%. If you are an SME with sales of less than €7.63 million, your tax rate is 15% on profits of less than €38,120.

You can also opt to pay income tax (impôt sur le revenu) for up to 5 years. In this case, you declare your profits in the BIC or BNC categories of your income tax return. The tax rate is calculated by bracket.

In 2018, the income tax brackets are:

Income up to €9,807 0 %.
Income from €9,807 to €27,086 14 %.
Income from €27,086 to €72,617 30 %.
Income from €72,617 to €153,783 41 %.
Income over €153,783 45 %.

Depending on your income, it may be more attractive to temporarily opt for income tax.

What is a EURL?

The EURL (Entreprise Unipersonnelle à Responsabilité Limitée) is a limited liability company with one partner.

As manager of an EURL, you have the status of a self-employed worker, and are subject to the RSI (régime des travailleurs indépendants). Your social charges are lower, but so is your social protection. All you need to do is complete an annual declaration: the déclaration sociale des indépendants (DSI). On the other hand, you must continue to pay social security contributions even if you have no income. This ensures your social protection.

EURL tax regime

By default, you are subject to income tax. This means that you have to declare the profits you make each year on your tax return. If you wish, you can opt to pay corporation tax. Since the Sapin 2 law, you can also benefit from the microenterprise regime, provided that the sole shareholder and the company manager are the same person.

Why choose a neobank for an EURL or SASU?

Opening a pro account with Anytime offers you numerous advantages in both cases. + low, transparent rates + an account opened in 5 minutes + 100% online management of your account, 7 days a week, 24 hours a day + access to telephone advisors who listen to you (see offers) + a French RIB to facilitate all your administrative procedures + payment and collection solutions : bank transfers, cheques, payment terminal, SMS or email payment link, payment button on your website + solutions for paying your suppliers in France or abroad, online or direct + an integrated solution for managing your invoices and expense reports + modules and partnerships to support you at every stage of your business life.

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