High Risk Merchant Account
High Risk Merchant Account

The Ultimate Guide To Launching Into Europe And Accepting International Payments

CONTENTS:

  • SECTION 1:

    Five things you need to do in order to prepare for your European launch.

  • SECTION 2:

    The Top Ten mistakes people make when looking to launch into Europe and how to avoid them.

  • SECTION 3:

    The role of compliance and the key measures for successful completion of the compliance process.

  • SECTION 4:

    The European Trading checklist to launch and operate in Europe.

  • SECTION 5:

    European Merchant Services (UK) Limited

FIVE THINGS YOU NEED TO DO IN ORDER TO PREPARE FOR YOUR
EUROPEAN LAUNCH

1. DOCUMENTATION TO APPLY FOR AN EEA MERCHANT ACCOUNT

Make sure you have all required
personal and company
documentation needed for a
cross border EEA Merchant &
Bank account.

This will include valid photo ID from all company directors, shareholders, previous processing statements and proof of address

2. A LOCAL MERCHANT PAYMENT AND PROCESSING PARTNER

Card processing options /
acquiring other solution
providers depending on
perceived risk of the
business.

Based upon your
business model and your
level of risk in terms of
what you provide.

You may want to consider
which providers will be
likely to offer you an EU
merchant account whilst
making your decision.

3. COMPLIANCE WITH LOCAL TRADING REGULATIONS

Ensure that your products or
services abide by trading
country laws and regulations
as these may differ from your
home country.

Depending on the
products or services you
provide, it is vital you carry out background checks.

This in turn will speed up
and increase the efficiency of your EU launch

4. A CLEAR & CONCISE BUSINESS PLAN, IF REQUESTED

Ensure you have a clear
and concise business plan
alongside financial
projections.

The business model &
the delivery of your
products or services
needs to be consistent.

They will have to comply
with the expectations of
the acquirer & your
potential customers.

5. UNDERSTANDING LOCAL FISCAL AND TAX LAW

Understand the regional
fiscal laws and
regulations which would
cover Corporation Tax
and VAT.

It is essential to develop
an understanding on the
tax rates & laws associated
to the country of
company incorporation.

We will be able to
introduce to accountants
that are very familiar to
cross border e-commerce
businesses.

THE TOP TEN MISTAKES PEOPLE MAKE WHEN LOOKING TO LAUNCH INTO EUROPE AND HOW TO AVOID THEM

THE ROLE OF COMPLIANCE AND THE KEY MEASURES FOR SUCCESSFUL COMPLETION OF THE COMPLIANCE PROCESS.

WHAT ROLE DOES COMPLIANCE PLAY?

Incorporation, Banking & Acquiring Compliance is the process of adopting and proving that you are following & abiding to the laws, regulations and guidelines stipulated by the country or scheme (Visa & MasterCard) rules. Any issues surrounding the required compliance may have a substantial impact on your business financial applications and cause declines and massive delays in any boding process.

WHAT ARE THE REQUIREMENTS FOR PASSING COMPLIANCE?

1. KYC - KNOW YOUR CUSTOMER
Notarised Documentation Including a copy of your passport & proof Of Address .

2. KYB – KNOW YOUR BUSINESS

All company documentation including Certificate of Incorporation, Memorandum of Association etc

3. SUPPORTING DOCUMENTS
Website domain & proof of ownership, supporting trade documents & bank application / welcome letters

THE EEA TRADING CHECKLIST TO LAUNCH AND OPERATE IN EUROPE

WEBSITE REQUIREMENTS CHECKLIST

DELIVERABLE

DELIVERABLE DESCRIPTION / SOLUTION

Company Incorporation Documentation

The Company must be EAA registered with all KYB documents available to satisfy compliance & documentation scrutiny.

Appointed of domestic residential Company Director

For an appointment of an Overseas Company Director & Shareholder a residential EEA Company Director must be appointed as well.

Notarised Passport for Shareholders and Company Directors

Notarised colour scan / photocopy of Director / UBO passport (with all four sides showing).

Notarised personal Proof of Address for Shareholders and Company Directors

Notarised scan / photocopy of a bank statement, utility bill (not mobile telephone) or tax bill / letter, dated not older than 90 days.

WEBSITE REQUIREMENTS CHECKLIST

DELIVERABLE

DELIVERABLE DESCRIPTION / SOLUTION

Website ownership

The applying company or overlying company should own their website domains and provide proof of ownership such as Whois registration.

Legal company name being displayed

Legal Name of “Applying Company” must be clearly displayed.

Trading & customer obligations clearly stated

Clear posting of “General Terms and Conditions” with clear posting of “Refund/Return Policy’’

Product delivery process and timeframes outlined

Clear posting of all methods of delivery options and expected delivery timing.

Checkout & website information

Clear posting of the “billed as” descriptor on the payment page / checkout and all order pages should be Secure/SSL.

ABOUT EUROPEAN MERCHANT SERVICES (UK) LIMITED