News: VisaNet Provides Huge Business Opportunities in Great Britain

Visa is one of the world's largest payment operators, and its VisaNet service provides amazing opportunities for international business. The payment system can process up to 65 thousand financial transactions per second. Continuous updates increase system throughput. 

Visa payment operator in numbers:

• 3.3 billion payment cards in most countries of the world;
• Accepting payments to 46 million retail outlets in more than 200 countries around the world;
• It works with 15 900 banks and other financial organizations;
• Ability to conduct transactions in 160 currencies;
• The total volume of financial transactions is $ 11 trillion.

The business is constantly forced to make various payments via the Internet, so connecting to Visa services can greatly simplify the work. However, companies often face challenges. After-sales services carefully check the legal entities that connect VisaNet, and any deficiency in the documents can lead to failure.

Law company Law&Trust offers services for connecting to Visa payment services for business. Our lawyers have found a solution that will significantly reduce risks. We carry out the connection with the pre-registration of the company in the UK with the opening of a current account in the jurisdiction and the connection of the Stripe payment gateway. The procedure includes three main steps. Let's consider them in more detail.

Step 1 - Registration of a legal entity in the UK

To connect a business to VisaNet, you first need to create a company in a reliable jurisdiction. The most suitable option is to open a legal entity in the UK. After the organization is registered, it will open a current account and connect to the Stripe system, which will greatly simplify registration in VisaNet.

The preferred form of ownership of a legal entity is Ltd - the British equivalent of a limited liability company. Registration of such a company takes place at Company House. In organizations registered as Ltd, the liability of owners is limited to their share in the authorized capital. Such companies are resident, and both individuals and legal entities can own their shares. However, it is important to know that according to the laws of the United Kingdom, one of the shareholders or the head of the company may be non-resident.

The jurisdiction law allows opening an organization with a registered capital of 2 pounds or more. However, companies are required to maintain all necessary accounting documents and submit reports on time.

Law firm Law&Trust offers the opening of a company in the UK without your personal participation.

What documents are needed to register Ltd

In order to create an organization in the form of ownership Ltd, the applicant must prepare the following documents:

• The ID card of the director;
• Confirmation of the address of residence of the head;
• Information about shareholders (without a copy of passports);
• Information on the authorized capital;
• The nominal value of the share of each founder, and the distribution scheme of shares.

How much does company registration cost?

Registration of legal entities in the UK may have different costs, depending on what kind of services are needed. Law&Trust offers a basic registration option, as well as a legal entity with apostilled documents.

Note: the cost of our services includes document delivery services.

Step 2 - opening a corporate account

After completing the registration of a legal entity, it is necessary to register a bank account. Financial institutions are extremely cautious towards non-residents, so problems with opening a current account often arise. To avoid these troubles, it is worth using the services of the British payment system. Achieving a positive result is much easier, and it fully satisfies the requirements of Visa and Stripe.

The British payment system provides services for both legal entities and individuals. In addition to standard services, you can also:

• Conduct operations with cryptocurrencies;

• Use invoicing;

• Install a POS terminal in countries where the service is present.

The payment system also has its website and application on iOS. It is a resident of the UK and also has offices in London and Riga. The service allows you to work with several currencies, including dollars, euros, and rubles. In total, it supports 34 types of currencies. Also, using a payment system, a company can open an ESCROW account, get a loan, and convert currencies online. A personal visit to the office for opening is not required. Besides, the service issues payment cards.

Tariffs for users of the payment system are as follows: