Offshore Company: April 2020

Wednesday, April 8, 2020

Ways to get a merchant account

A merchant account is a special type of business bank account that allows your company to accept various types of payments, usually debit and credit card payments.

There are two ways to get a merchant account; both request a contract:

Agree with a member bank that has a processing relationship with Visa and Mastercard.
Have a contract with a member bank's authorized representative, such as an independent sales organization or member member service provider (ISO / MSP).

The agreement means that your business agrees to abide by the terms and conditions of card credit markets.

Once your merchant account is made, you're ready to start taking credit card payments. It can be as simple as logging in to a software product, entering customer payment information, and clicking the Get Payments button to process a transaction and deposit funds into your bank account, once you've reached a great merchant account provider.

Please select a jurisdiction for your company formation requirements:

Company formation in Slovakia

Slovakia has a corporate tax rate of 22%. Companies that operate under VAT have to pay tax on purchases at 20%. Certain services, like those related to some foodstuffs, pharmaceutical products, medical equipment for disabled persons, books (excluding e-books), and others, benefit from a 10% VAT rate.

Company formation in UK

United Kingdom has a corporate tax rate of 19%. Companies that operate under VAT have to pay tax on purchases at 20%. Certain services, like those related to children’s car seats, social housing, natural gas supplies, electricity supplies, energy-saving domestic installations and goods, LPG and heating oil, and others, benefit from a 5% VAT rate.

Company formation in Estonia

Estonia has a corporate tax rate of 20%. Companies that operate under VAT have to pay tax on purchases at 20%. Certain services, like those related to pharmaceutical products, medical equipment for disabled persons, books (excluding e-books), newspapers and periodicals, hotel accommodation, and others, benefit from a 9% VAT rate.

Company formation in Latvia

Latvia has a corporate tax rate of 15%, which is one of the lowest in the European Union. Companies that operate under VAT have to pay tax on purchases at 21%. Certain services, like those related to food products for infants, pharmaceutical products, medical products for disabled persons, domestic passenger transport, books (excluding e-books), newspaper and periodicals, and others, benefit from a 12% VAT rate.

Company formation in Panama

Panama has a corporate tax rate of 25%. Companies that operate under VAT have to pay tax on purchases at 7%.