Opening a Business PayPal account from Pakistan using a UK Ltd company registered with Companies House is feasible, but it’s important to consider certain factors and potential challenges. You can get Startup Digital Space services to create a Business PayPal Account or do it yourself.
Before you follow steps, make sure you have a static IP VPS (UK location)
Here are the general steps you might take:
- Register a UK Ltd Company:
- Start by registering a UK Limited Company (Ltd) with Companies House. You can do this online, and various services can assist with the process. Go through our articles in Ltd Company Category.
- Link a UK Bank Account:
- PayPal often requires a UK bank account for verification. Open a business bank account in the UK for your company. Some banks allow non-residents to open accounts, but requirements may vary. Wise (Formerly Transferwise) provides an easy solution to open a Business Account, Currently Wise isn’t onboarding Business Accounts from UK, but it will be back soon or you can check on their website for latest updates.
- Complete PayPal Business Account Setup:
- Once your UK Ltd company is established and you have a UK bank account, you can proceed to set up a Business PayPal account. During the setup process, you’ll link your UK business bank account to your PayPal account.
- Verification and Compliance:
- Be prepared to provide necessary documentation for verification purposes. This may include proof of identity for company directors and other relevant information.
- Comply with PayPal Policies:
- Ensure that your business activities comply with PayPal’s policies and regulations. Certain types of businesses may face restrictions or additional scrutiny.
- Address Challenges and Limitations:
- Understand that there may be limitations or challenges associated with using a PayPal account in this manner. PayPal’s policies and regulations can change, and they may have specific requirements for non-resident account holders.
- Stay Informed:
- Regularly check PayPal’s official website for any updates or changes to their policies. Policies can evolve, and staying informed is crucial for compliance.
It’s important to note that while this process is theoretically possible, it may not be straightforward, and there could be challenges along the way. PayPal’s policies, regulatory considerations, and banking requirements may impact the success of the application.