PayPal and an offshore company (Panama, Belize, etc)

duimstra

duimstra

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Hey

Does anyone have any practical experince with using PayPal with your offshore company?

Example: Can you link your PayPal account with your Hong Kong bank account if your company is registered in Panama?
Or is it better if the bank account is also opened in Panama?

Cheers,
d
 
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I don't think PP is too fussy about countries, only if it's on your name. But i haven't tested it.
 
question do you want withdrawal facilities with your paypal ? because as far as I am aware your not able to do it from these countries. But I know where you can and set it up for you no problem
 
Yeah, I need to be able to push money to the bank account. As far as I know, PayPal allows this, but only to a US bank account.

If you have a Hong Kong setup, you can withdraw to a local account, though.
 
Blackhatmatics said:
question do you want withdrawal facilities with your paypal ? because as far as I am aware your not able to do it from these countries. But I know where you can and set it up for you no problem
Click to expand...

Can you tell us more? :)
 
Yeah, that would be nice too :)
 
About 6 months ago I was heavily researching this and my conclusion was that it cannot be done. Paypal is a bitch about countries. Most offshore countries have restricted withdrawal. The most promising was Hong Kong but that has a couple issues too. When you register with a business Paypal asks for company owner/director from the same country. Guess what are they going to ask to provide them when they limit the account when it hits certain traffic? Company papers, local owner's id, proof of address, etc. You can set it up but at the first account limitation you are screwed. With a Hong Kong company you also need to keep books and file them..

Ended up asking to be paid by checks. The company who registered my company provides bank account management service too. I point my affiliate checks to their address, they forward it to the bank via courier. Completely automated, costs less than paypal fees but painfully slow. Sometimes takes 2 months to get my money. But once the checks are rolling in it's ok.

Edit: read your question again. If I remember correctly the company and bank account should be from the same country. But the above still applies.
 
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I think they have restrictions on some countries, payaza or however you call it operates in all countries. Personally I wouldn't go with them again after they have limited me many times and stole my money. Theres plenty of merchants that want your money and offer better rates
 
The easy answer here is to just open more than one bank account... A belize LTD can have accounts in 10 different countries without a problem, linking your paypal account to those bank accounts and doing business through those is the way to go. Some banks will want a physical Office in their country, get yourself a virtual office address for a couple of bucks a month and you're good to go. No Problem at all!
 
Alpha. said:
The easy answer here is to just open more than one bank account... A belize LTD can have accounts in 10 different countries without a problem, linking your paypal account to those bank accounts and doing business through those is the way to go. Some banks will want a physical Office in their country, get yourself a virtual office address for a couple of bucks a month and you're good to go. No Problem at all!
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Dear Alpha, Can you guide me on banks that accept PayPal and the Belizian IBC's? (Other than Singapore, Isle of Man, Cyprus, Latvia, Belize, Nevis and Seychelles banks)
Thank you!
 
I'm also interested in starting a business in Belize or Hong Kong, with its own company paypal account in order to receive payments from sales made trough our company website. Would that be possible? In terms of taxes, will the account be linked to the company, or to myself as well? Will I be able to operate that account from other countries, while traveling, or will paypal block it until I unlock it again from Belize?
 
Rashmut said:
Can you guide me on banks that accept PayPal and the Belizian IBC's? (Other than Singapore, Isle of Man, Cyprus, Latvia, Belize, Nevis and Seychelles banks)
Thank you!
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Gibraltar? It is paradise for offshore and they accept pay pal
 
many sellers use company Hong Kong. You must have also bank account in HK and IP from HK.
 
duimstra said:
Hey

Does anyone have any practical experince with using PayPal with your offshore company?

Example: Can you link your PayPal account with your Hong Kong bank account if your company is registered in Panama?
Or is it better if the bank account is also opened in Panama?

Cheers,
d
Click to expand...

I do understand that some banks in Belize can provide such services. However, you Belize IBC/Offshore Company should be incorporated. you can contact a registered agent in belize:
 
I was researching that for HK and SIngapore, I mean this is perfect for internet marketers who travel and make money online....
But yes linking paypal with HK bank is going to be a bitch. But maybe you can open paypal for company name, and just get a hk ip somehow?
but another thing is that paypal is not so strict I think. I am travelling around the world all the time and I am rarely in my country. ANd they dont give me any fuss....
 
playasol said:
I do understand that some banks in Belize can provide such services. However, you Belize IBC/Offshore Company should be incorporated. you can contact a registered agent in belize:
Click to expand...

No Offshore Banks provide this service as their countries are not supported by Paypal! If they're trying to sell you a package that says otherwise, they're scamming you.

seo4life said:
I was researching that for HK and SIngapore, I mean this is perfect for internet marketers who travel and make money online....
But yes linking paypal with HK bank is going to be a bitch. But maybe you can open paypal for company name, and just get a hk ip somehow?
but another thing is that paypal is not so strict I think. I am travelling around the world all the time and I am rarely in my country. ANd they dont give me any fuss....
Click to expand...

Sure, you can link paypal to a bank in HK.. but to use it for your IM business funds, you'll need a business paypal acc. That requires the use of a Hong Kong Offshore Company (IBC) and a business bank account. This combo will set you back a couple of grand (and depending on the bank, you'll have to agree to some facetime!) which you'll have to decide if it's worth it!
 
why few grand? Isnt it around 1000 usd to open company in HK? Plus you open the bank account and open business paypal connected with business bank?

I would say all you need is a pobox and secretary, am I wrong? Plus bank account. But I guess you will need to stay some time in HK to verify your paypal account somehow
and get an electric bill from somewhere, maybe the electricity that powers tha pobox? he he
 
Alpha. said:
No Offshore Banks provide this service as their countries are not supported by Paypal! If they're trying to sell you a package that says otherwise, they're scamming you.



Sure, you can link paypal to a bank in HK.. but to use it for your IM business funds, you'll need a business paypal acc. That requires the use of a Hong Kong Offshore Company (IBC) and a business bank account. This combo will set you back a couple of grand (and depending on the bank, you'll have to agree to some facetime!) which you'll have to decide if it's worth it!
Click to expand...

It doesn't cost a few grand, and if you in mainland china you do not even need to have an appointment at the bank, they do a video interview. You can even open a personal account too, however it is best to deposit funds into the bank account though.
 
No, linking PP to SG or HK is a great idea, why would it be a bitch? Remember HK is the gateway to the next superpower, HK bank accounts have additional currencies however the ATM fee is expensive but that depends on the bank in YOUR country the bitch is the US is finished, they are in debt, and SG central bank lost 87% fighting the US fed. The money is moving to the East + Russia, you know which countries the debt are in and where the creditors are. Yes china calls themselves "communist" but believe me they are the best capitalistic people in the world, you'll ever meet. They are excellent in maths and hard workers.
 
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