Can We Transfer Crypto Assets From Our Personal Wallet(s) To The Company?
As part of our Premium plan, Companio allows your business to conduct some crypto activity, such as receiving payments in crypto for your services, or acquiring goods or services from your providers in crypto.
To do this, you need to open crypto wallets exclusively for your business, like you would do with any bank account, to keep a strict separation between your personal and corporate funds.
However, many founders wonder if they can transfer assets from their personal wallets to the business. Perhaps profit from a previous business. That's completely possible. It's the equivalent of increasing the share capital of your company, but using crypto assets from your personal wallets. So how does the process look like?
First, the shareholders have their personal crypto assets in their personal wallets.
Next, the shareholders should open wallets for the business (if they haven't already) to make sure there's a strict separation between their personal and corporate funds. These wallets can only be used for business purposes, like paying for deductible goods or services.
Then, the shareholders sign a resolution indicating that they want to increase the share capital by transferring an amount of crypto from their personal wallets to the corporate one.
Once done, the shareholders transfer the specified amounts to the corporate wallet from their personal wallets (the ones specified in the previous resolution).
Finally, all that's left to do is to modify the entry in the registry of the business, with the resolution, and the new share capital, calculated as the equivalent of the corresponding amount of share capital increased in EUR.
In Companio, we'll be glad to help your team transfer your personal assets to the company as a share capital increase.
Note: In the case of multiple shareholders, we recommend that the increase in share capital is done in the right percentages to respect the previous distribution of shares. For example, if John (owning 60% of shares of the business) and Anna (owning the remaining 40%), want to increase the share capital through a transfer of crypto assets, it is recommended that if John transfers 60 ethereum to the company, Anna transfers 40 ethereum, to increase the share capital by 100 ethereum total, while keeping the same distribution of shares.
To do this, you need to open crypto wallets exclusively for your business, like you would do with any bank account, to keep a strict separation between your personal and corporate funds.
However, many founders wonder if they can transfer assets from their personal wallets to the business. Perhaps profit from a previous business. That's completely possible. It's the equivalent of increasing the share capital of your company, but using crypto assets from your personal wallets. So how does the process look like?
First, the shareholders have their personal crypto assets in their personal wallets.
Next, the shareholders should open wallets for the business (if they haven't already) to make sure there's a strict separation between their personal and corporate funds. These wallets can only be used for business purposes, like paying for deductible goods or services.
Then, the shareholders sign a resolution indicating that they want to increase the share capital by transferring an amount of crypto from their personal wallets to the corporate one.
Once done, the shareholders transfer the specified amounts to the corporate wallet from their personal wallets (the ones specified in the previous resolution).
Finally, all that's left to do is to modify the entry in the registry of the business, with the resolution, and the new share capital, calculated as the equivalent of the corresponding amount of share capital increased in EUR.
In Companio, we'll be glad to help your team transfer your personal assets to the company as a share capital increase.
Note: In the case of multiple shareholders, we recommend that the increase in share capital is done in the right percentages to respect the previous distribution of shares. For example, if John (owning 60% of shares of the business) and Anna (owning the remaining 40%), want to increase the share capital through a transfer of crypto assets, it is recommended that if John transfers 60 ethereum to the company, Anna transfers 40 ethereum, to increase the share capital by 100 ethereum total, while keeping the same distribution of shares.
Updated on: 30/10/2024
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