
In 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 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.