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Open a Merchant Account in Spain

Updated on Tuesday 27th June 2017

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Open-a-Merchant-Account-in-Spain.pngIn order to open a merchant account in Spain, the applicant, which has to be represented by a legal entity, must provide a set of corporate documents. Our team of company formation agents in Spain can offer advice on the procedure, as well as on the most suitable type of merchant account that should be set up for a certain business activity. Investors interested in company formation in Spain are advised to open a merchant account in the situation in which they have a high volume of daily financial transactions. At the same time, this type of account is necessary for online businesses operating in this country. 
 

Types of merchant accounts in Spain

 
Investors who want to open a company in Spain which operates as a traditional business can set up a merchant account in order to maximize the level of transactions, which are customarily processed through cash payments. Commercial operators who carry their business activities in the online environment are required to establish an online gateway payment procedure and they may choose one of the following types of merchant accounts
 
e-commerce merchant account;
low risk merchant account;
high risk merchant account;
offshore merchant account;
MOTO merchant account;
adult merchant account;
pharmacy merchant account
 
One of the first aspects that should be completed in this sense is to verify if the online shop of the respective company is compatible with the online systems used by the service provider. Spain offers numerous options in this sense and our team of company formation representatives can offer in-depth assistance on this matter. 
 

Registration requirements in Spain  

 
The registration of a merchant account in Spain will be completed together with a local bank and with the service provider. The procedure of company registration in Spain in this sense stipulates that the requesting company will provide the following documents: 
 
the certified copies of the company’s statutory documents;
the certified copies of the company’s directors passports; 
the power of attorney, in the situation in which the company’s representatives will appoint nominees. 
 
Businessmen can find out more details on the subject, including on the types of fees applicable to each transaction which can vary depending on the chosen merchant account, from our team of company registration consultants in Spain. Please contact our experts in company formation in Spain for assistance on this matter. 
 

Comments

  • Anna 2017-06-27

    Good day! I would like to find out the regulations applicable to the MOTO merchant account.

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