8 {{ upvoteCount | shortNum }}
8 {{ upvoteCount | shortNum }}

Business PayPal account in different country?

by Monsignor
6 replies
  • ECOMMERCE
    • |
I have a dilemma, and of course PayPal's support just keeps sending me template responses which don't help me in any way. So I figured someone here may know the answer.

I live in a country where Paypal is not available. Now, I'm running an online business and I'd like to use Paypal for payment processing, so I need a Paypal merchant/business account.

My idea is to start an offshore company in the UK - the company would have an address and a bank account in the UK - so I'm wondering if Paypal will allow me to open a company account using that address and that bank account, even though I myself am not a UK resident.

Any thoughts? The incorporation would cost me a few hundred pounds, and I'd like to avoid that expense if it's not gonna get me anywhere.
#account #business #country #paypal
  • Profile picture of the author Nail Yener
    Call PayPal, or have someone call them for you if you are not comfortable on the phone and make sure what you want to do is acceptable or not. Until then don't do anything.
    {{ DiscussionBoard.errors[7811604].message }}
  • Profile picture of the author Monsignor
    Thanks - I don't know why it didn't cross my mind to call them.

    The lady on the phone was very nice and explained everything to me in detail.

    For everybody's future reference - yes, you can legally open a UK PayPal business account in the name of a UK-based company even though you're a citizen and resident of a country that PayPal does not support.

    The company has to have a UK address and the bank account has to be either a UK or US bank account. This last bit means I will have to travel to England to open a bank account for the company, because you have to do it personally (I checked that already) but that's ok, it's time for a holiday anyway

    When I asked if my residential address matters, she encouraged me to just state 'same as business address' to avoid complications.
    Signature

    The intelligent investor is a realist who sells to optimists and buys from pessimists. - B. Graham

    {{ DiscussionBoard.errors[7811687].message }}
    • Profile picture of the author PaulSch
      Originally Posted by Monsignor View Post

      The company has to have a UK address and the bank account has to be either a UK or US bank account. This last bit means I will have to travel to England to open a bank account for the company, because you have to do it personally (I checked that already) but that's ok, it's time for a holiday anyway
      Good luck with this. It's virtually impossible for a British citizen to open a UK bank account these days without supplying the bank with at least one arm and both legs.
      Signature

      Get FREE Access To Over 180 Webmaster Training Videos here. Did I mention they are totally free?
      {{ DiscussionBoard.errors[7811770].message }}
      • Profile picture of the author Monsignor
        Originally Posted by PaulSch View Post

        Good luck with this. It's virtually impossible for a British citizen to open a UK bank account these days without supplying the bank with at least one arm and both legs.
        What? Do you mind elaborating? Why would it be difficult to do something as simple as opening a bank account?
        Signature

        The intelligent investor is a realist who sells to optimists and buys from pessimists. - B. Graham

        {{ DiscussionBoard.errors[7811803].message }}
        • Profile picture of the author Nail Yener
          Originally Posted by Monsignor View Post

          What? Do you mind elaborating? Why would it be difficult to do something as simple as opening a bank account?
          Opening a bank account has never been a simple thing. Especially if it is a business account and in another country.

          Which address will you show for your business in the UK? A real address? A post office box address?
          {{ DiscussionBoard.errors[7811977].message }}
          • Profile picture of the author Monsignor
            Originally Posted by Nail Yener View Post

            Which address will you show for your business in the UK? A real address? A post office box address?
            I intend to start the company through a "offshore incorporation" company in the UK (I was told they're a reliable one). They (this is a quote) "provide you with an address to use as your registered office". I'm not sure whether this is just a PO Box or a full address, but I can check. They also supply the following documents, which I'm led to believe is enough for most banks to accept me:

            Incorporation Certificate
            Memorandum & Articles
            Share Certificate
            eRegister including the first board minutes

            There's also an optional "Certificate of Goodstanding".

            And I really just need one bank to accept me, I don't mind going to 20 banks if need be. I also don't need credit/overdraft and I'd be willing to make an initial deposit.

            What do you think?
            Signature

            The intelligent investor is a realist who sells to optimists and buys from pessimists. - B. Graham

            {{ DiscussionBoard.errors[7812003].message }}

Trending Topics