How to obtain the release of funds deposited with the custodian?
Under french law, to obtain the release of funds deposited into the account of an authorized custodian (e.g., a public notary), it is necessary to register the company for which the share capital deposit has been made into the custodian’s account. Once the company is registered, the representative can request the transfer of the deposited share capital into the company’s bank account.
To support this request, the company’s legal representative (president, manager, etc.) must provide proof of the company’s registration by submitting the company’s Kbis extract to the fund custodian. The representative must also provide the banking details (RIB/IBAN) of the account opened in the company’s name, into which the deposited funds should be transferred.
Upon receipt of these documents, the custodian of the share capital proceeds with the release of the deposited funds and settles the account held in its records in the name of the newly registered company.
The public notary office Chassaint & Cerclé Notaires assists business creators with the necessary steps for depositing their company’s share capital. For more information, click here.
