Your hosting account will be created and the domain name will be registered immediately after the confirmation of payment.
You will receive all the information for the account management on the specified e-mail (username, password, access to the control panel and etc.).
You will have access to the site immediately after the activation of the account, not by your chosen domain but in the temporary address of the server where your hosting account is located. To access the site trough your domain, it is necessary to pass the period from 1 to 24 hours, depending on the domain extension and the speed of DNS servers of your Internet Service Provider