Eyeing Europe for an Offshore Merchant Account

Choosing the country where you want to set your offshore merchant account can be at most, tricky and confusing. With a lot of countries lining up at your doorstep, picking the “one” means closely examining their attributes and what they have to offer. So, let me give you a good headstart on knowing the best possible choice to set up an offshore merchant account. Banks across Europe have the edge in accommodating merchant accounts, especially those who operate high risk businesses. We can categorize <a href="http://www.offshoremerchantexperts.com/adult_website_credit_card_processing.html" target="_blank">adult</a>, <a href="http://www.offshoremerchantexperts.com/travel_merchant_account.html">travel</a>, <a href="http://www.offshoremerchantexperts.com/online_pharmacy_merchant_account.html" target="_blank">online pharmacy</a>,<a href="http://www.offshoremerchantexperts.com/online_gambling_merchant_account.html" target="_blank"> online gambling</a>, <a href="http://www.offshoremerchantexperts.com/telemarketing_merchant_account.html" target="_blank">telemarketing</a>, <a href="http://www.offshoremerchantexperts.com/multi_level_marketing_mlm_merchant_account.html">multilevel marketing</a>, <a href="http://www.offshoremerchantexperts.com/high_volume_merchant_account.html" target="_blank">high volume</a>, <a href="http://www.offshoremerchantexperts.com/escort_service_merchant_account.html" target="_blank">escort service</a>, and <a href="http://www.offshoremerchantexperts.com/dating_merchant_account.html" target="_blank">dating service</a> under the the high risk nature. Why Europe, you may ask. Europe boasts of their flexible terms applied with strict confidentiality yet bounded by law. <h1>Best places in Europe</h1>Now that you have a specific continent in mind, Europe, that is, it is more prudent to select from the countries in this continent to which you will have a fruitful business dealing with. Recommended are Luxembourg, The Netherlands, Sweden, and Cyprus. Tax jurisdictions in these countries range from 10-31%. <h2>Multi-currency capability</h2>Europe banks empowers merchants to settle and transact in multiple currencies which includes US Dollar, British Pound, Euro, Swedish Kroner and Swiss Francs to a direct merchant account. Also, aspiring offshore merchant account holders can have the luxury of using a payer authentication solution for Verified by Visa and MasterCard® SecureCode™ provided by merchant account providers setting up in Europe. You'll be able to enjoy this feature with these benefits: <ul><li>protection from fraudulent transactions</li></ul><ul><li>safeguard from unauthorized payments </li></ul><ul><li>offers a chargeback liability shift</li></ul><h3>Pre-requisites to fulfill</h3>Ok, so are all the benefits good or good? This time, knowing what you need to fulfill you part of the deal is crucial. These criteria must be met with facts and documentation, may I add. <ul><li>Merchants must have existing sales volumes of minimum USD $250,000 per year and provide estimated future sales volumes; </li></ul><ul><li>No start-ups (merchants must have at least 6 months of online credit card processing history) or be able to provide financial information such as balance sheets to support current brick and mortar business; </li></ul><ul><li>Merchants must have a low percentage of credits to sales and chargebacks of less than 1% to total sales volume; </li></ul><ul><li>Merchants that do not have a custom built shopping cart must integrate to OS Commerce Shopping Cart </li></ul>Now, if you already have a website for your business, better take a look at what the website should contain once someone visits it. <ul><li>Credit card flag symbols in color to indicate card acceptance</li></ul><ul><li>Privacy, security and refunds policy</li></ul><ul><li>Complete description of the products or services offered</li></ul><ul><li>Pricing of product(s)</li></ul><ul><li>Transaction currency</li></ul><ul><li>Contact information (e-mail, phone number, fax)</li></ul><ul><li>Delivery policy</li></ul><ul><li>Security capabilities and policy for transmission of payment card details</li></ul><ul><li>Export restrictions (if applicable) </li></ul>Note what you need to bring in to the table once you have decided to opt for an offshore merchant account in Europe. <ul><li>Articles of Incorporation from the current Parent Company;</li></ul><ul><li>Articles of Incorporation for the newly Incorporated Company;</li></ul><ul><li>List of authorized signatures;</li></ul><ul><li>Board resolution giving power of signature to the signatories;</li></ul><ul><li>Notarized copies of passports of the signatories and shareholders with greater than 5% ownership; </li></ul><ul><li>Completed merchant application form;</li></ul><ul><li>Financial information such as balance sheets, audited or unaudited financial statements; </li></ul><ul><li>6 months of credit card processing statements detailing sales, refunds, credits, voids and chargebacks </li></ul><h4>Making a worthwhile choice</h4>Your offshore merchant account provider can give you more extensive banking clauses. But what's important is that you have a fairly good idea on what you can face when opting for Europe. After all, most providers have established connections with banks in this continent. The banking laws are similar to your local US bank, at times, even more adaptable to your business' needs. In the end, you always have a choice.

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