Non US Resident Bank Account Opening for PayPal
For my future ventures, I'm planning on opening an US PayPal account. I reside in India and actually the restrictions sucks a lot. You cannot receive more than $3000 USD/transaction, you cannot send anyone a payment from your bank account linked to PayPal but only with debit/credit card. And even these cards too has $1000/day limit or so. But as the transaction amount is likely to scale up in my business, and having short time limit of sending payments out, Indian PayPal is going to be quite impossible for me.
I've researched online about this and I've seen mixed opinions. Some say Wells Fargo is good bank and you need not need to be present IN PERSON there. A fellow relative of mine (IMer too) has opened an account with such procedures by establishing his business/company in USA, so that's what it enlightens me a little that it might be possible. There are quite a few relatives of mine staying in the United States, so there business address can be shown as theirs and should be no problem.
Things will be of course done legally as I'll be establishing a presence of my company (Company LLC) in the United States. So I'll be getting the EIN number but no SSN number unfortunately.
If anyone of you has encountered situations like this, and have done it without being present IN PERSON, please share your experience and what you exactly did do. I could hire a lawyer too to get the process done (as my relative did too and he did most of the part for him).
edit: And also let's say all the process is done and PayPal decides to limit the account and acquire more info, can the business address proof, EIN, US Bank Account and Debit Card do the job for verification for business PayPal US accounts or will it require additional information of a person too such as driving license, etc? Because that would be sort of impossible. However I read on PayPal forums about their moderator saying that this is possible and perfectly fine if a business is established in the States.
Thank you!
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