What is a company savings accountWhy do so many entrepreneurs use them? Are these types of savings accounts accessible? for all SMEs? All questions and answers in today's article.
As we usually do in this blog, let's start at the beginning: by clarifying in the simplest and briefest way possible what is a company savings account and what is it for?.
A company savings account is a bank product which seeks to promote the entrepreneurial activity of new entrepreneurs by means of a current account in which they can periodically deposit the capital necessary to set up a New Company Limited Liability Company (SLNE).
To give you an idea of how this product works, Think of a company savings account as a home savings account: a bank account into which a certain amount of capital is deposited for a certain purpose.
From this point of view, the company savings account is still a savings tool for many companies. new SMEs, The new, a tool that allows us to make savings, such as, for example, the nursery cards, the petrol tickets, etc.
At a glance, If you are looking for a business savings account, the business savings account is not very different from a personal savings account, one of those accounts that we have all opened at some point to help us save capital for a future investment. But as soon as you do a little research, you will see that most of the business savings accounts offered by the banks are different products What is the difference between a company savings account and a personal savings account? In the series of requirements that must be met in order to be able to open this type of bank deposit. This is discussed in the next section.
At first glance, the company savings account seems to be a perfect solution to save the money that the capital required to open an SLNE. Moreover, when it first came out, this type of account was tax-deductible, but now it is no longer. In any case, to be able to open a company savings account, the bank you choose will ask you to fulfil a series of conditions general requirements:
New entrepreneur
A prerequisite for the opening of the company savings account is that the deposit holder(s) have not previously exercised the activity that they are going to develop in their new SLNE. In addition, the holder of a company savings account cannot have several such accounts (only one).
Acquisition of the SLNE's fixed assets
During the first year of incorporation and start-up of the new SLNE, the entrepreneur undertakes to to acquire all intangible and tangible fixed assets that it will need to carry out its activity. Tangible fixed assets would be, for example, the company's furniture, transport vehicles, computer equipment, etc. Intangible fixed assets would be the computer applications that you need to use in your business, patents for your trade name and trademark, etc.
Maintenance of the activity for at least two years
The holder(s) of the company savings account must undertake to maintain the activity of your new company for at least two years since its incorporation. In addition, they have to maintain the full-time contract of the employee they have registered in this corporate structure, if they have acquired a property as part of the tangible fixed assets they will not be able to sell it, etc.
As you can see, the company savings account can be an excellent savings measure for your new SME SLNE, but there are more instruments that will allow you to save and boost your activity as a self-employed entrepreneur. Do you want to know them? Click here and we tell you about it in detail.
