Documents for the Conclusion of contract

The following documents are usually required to conclude a payment solution contract:

1. Copy of the identity card or passport of the contract holder

2. Copy of the commercial register entry or business registration (for companies)

3. Bank statement or confirmation of bank details

4. Company documents such as VAT identification number or tax number

5. Additional documents may be required depending on the specific requirements or industry, such as proof of business activity

PAYONE is a company in the financial services sector and is therefore subject to supervision by the Federal Financial Supervisory Authority (BaFin). In accordance with the legal requirements of the Payment Services Supervision Act (ZAG), BaFin regulations and the enhanced due diligence obligations of the Money Laundering Act (GwG), we are required to obtain a number of documents from your company before we can activate our services for you.

Please note that the required documents may vary depending on the legal form of your company.

For the conclusion of the contract, you need to provide the following personal information:

1. Name of the company or contract holder (company name, legal form, first and last name of the contract partner)

2. Business address and contact details (address, phone, email)

3. Company registration number, transparency register extract, commercial register extract, business registration, creditor ID

4. Identification documents such as identity card or passport

5. Bank details for payment processing (IBAN, BIC)

6. Additional documents may be required depending on the specific requirements or industry, such as proof of business activity

A commercial register extract is an official excerpt from the commercial register containing information about a company, such as its name, address, managing directors, shareholders, company capital and other relevant data. This extract serves as proof of the existence and legal framework of a company.

You can usually obtain an up-to-date extract from the commercial register from the local district court or commercial register court. It is also possible to request an extract from the commercial register online via the electronic commercial register portal www.handelsregister.de.

If the business model is expanded, a new extract from the commercial register is required for the risk assessment, which must not be older than 6 months.

A shareholder list is a document that lists all the shareholders of a company along with their shares in the company. It is often part of the commercial register extract and can be requested from the responsible district court where the company is registered.

If you can't find your business registration, you can request a duplicate from the responsible trade office (Gewerbeamt).

If you do not yet have a Creditor ID, you can apply for one from the German Federal Bank.

A proof of activity is a written confirmation that a certain professional activity has been or is being carried out. Examples of proof include a doctor's certificate, professional licence, pharmacy certification or a confirmation of the VAT identification number.

The VAT identification number (USt-IdNr.) was provided to you by the national tax authority in writing when you established your business. It starts with two capital letters, usually consisting of the two-digit country code – in Germany, the number starts with "DE". It is followed by nine digits, for example, "DE124356789".

For further information on the VAT ID, you can contact the Federal Central Tax Office (Bundeszentralamt für Steuern).

A transparency register extract is a document that lists all the beneficial owners of a company, including their capital shares. The transparency register, established in the Money Laundering Act (GwG) §§ 18 ff, is a register based on a European directive and introduced in national legislation. Since 1 October 2017, it has been mandatory to register the beneficial owners of legal entities under private law and registered partnerships. Its purpose is to help prevent money laundering and terrorism financing. The information on the beneficial owners listed in § 19 para. 1 GwG must be collected, kept up to date, and promptly submitted for registration to the registering authority in case of changes.

The obligation to register applies only to legal entities under private law, registered partnerships in the commercial register, and legally-capable foundations. Companies required to register include: e.V. (registered association), legally-capable associations, AG (public limited company), KGaA (partnership limited by shares), GmbH (limited liability company), UG (entrepreneurial company), eG (cooperative), SE (European company), European Economic Interest Groupings, KG (limited partnership), OHG (general partnership), PartG (partnership) and legally-capable foundations.

NOT subject to registration are: Sole proprietorships, GbR (civil law partnerships), e.K. (registered merchant), communities (e.g., WEG - condominium owners' association), non-legally-capable associations, public law entities (foundations and corporations), companies in formation (e.g., GmbH in formation), inheritance communities.

You can find instructions on how to obtain your transparency register extract on the Transparency Register website.