Audience:
Shareholders
A shareholder is a natural person (individual) or legal entity that deposits funds in exchange for ownership of the future company. To deposit funds, the shareholder opens a temporary Swan payment account.
Opening the temporary account
Because they're opening an account, each shareholder must go through the onboarding, identification, and account holder verification processes. Shareholders must also give proof of their residence address; only official documents are validated. Refer to the list of acceptable documents in proof of address.
After completing these requirements, the shareholder's account is assigned an IBAN they can use to deposit funds.
A shareholder moves through several statuses as they onboard and transfer funds.
As soon as the CapitalDepositCase is complete, the shareholder's temporary account closes automatically.
Transfer requirements
Capital can only be deposited into a shareholder account via SEPA Credit Transfers. International credit transfers are rejected automatically before settlement, regardless of the amount. Make sure all transfers are sent from the shareholder's account in their name.