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Company formation/PayPal advise needed

Discussion in 'Business & Tax Advice' started by respectable, Oct 17, 2015.

  1. respectable

    respectable Newbie

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    Greetings,

    I need your serious advise on what has been bothering me for a long time. I'm from a country where PayPal is only available as send-only which means I can't receive money.

    My desire has always been building an online business with a marketplace model, something similar to Fiverr but very different. But due to the fact that I need to collect payment and disburse fund at the end of every month or use PayPal Adaptive to disburse fund I'm stuck with this idea and I have been unable to achieve this goal of mine for a longtime. PayPal has a wide coverage and it will be in the best interest of buyers to accept PayPal as a means of payment and method of disbursement.

    I have to take action now. I think that I may need to form a company in another country and I need your advise on:

    1. How do I setup a PayPal Business account in another country and fully verify the account despite the fact that I'm from another country?
    2. Which country will be the best place to setup the PayPal Business account and also get a bank account and what are the thing I need to provide?

    PS: I don't mind traveling to that country. I just want to seek your advise on how to succeed in setting this up without fear of the account getting limited and me getting stuck without option. How to go about this legally and reliably. I'm also open to variety of suggestions even if you have not done this before.

    all replies or suggestions are welcome.

    Thank you for your time.
     
  2. respectable

    respectable Newbie

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    I'll appreciate your suggestion.

    Thank you.
     
  3. gcgipson

    gcgipson Junior Member

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    There are companies that specialize in setting up off shore businesses, but they are kind of expensive. I imagine if you have the funds to travel anywhere, you might be able to afford them.
     
  4. fc-dh

    fc-dh Elite Member

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  5. selo

    selo Junior Member

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    Setting up the business just to get a Paypal account will be pretty costly. The easiest way, IMO, is to find a JV partner somewhere outside of your country.
     
  6. AlphaRacks

    AlphaRacks Junior Member

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    Setup 2Checkout. You can accept PayPal payments through there
     
  7. nnahlee

    nnahlee BANNED BANNED

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    you can find business accounts on aspkin.