PayPal is a global payment platform that enables businesses to send and receive payments securely and quickly. PayPal is available in over 200 countries currently.
Are you a Pakistani resident looking to open a PayPal account?
Unfortunately, PayPal is not available in Pakistan. However, there is a way to legally open a PayPal account from Pakistan against a US-registered LLC. As a service provider, Buzz Byte helps Pakistani residents open a PayPal account against their US LLC.
In this blog post, we will guide you through the process of creating a PayPal account in Pakistan.
Requirements to open a business PayPal account in Pakistan?
An individual PayPal account is impossible to open for a Pakistani resident. The only option is to open a business PayPal account. For this, you will need the following information:
- A registered US company.
- An ITIN / EIN.
- A business bank account in the US for PayPal account verification.
- A US mailing address for your company.
- A US phone number, preferably on roaming.
Documents for verifying your business PayPal account:
- Business Registration.
- Photos of the business owner’s government-issued ID, passport, or driver’s license.
- Proof of business address dated within the last 6 months. The address submitted to PayPal must be the same one on all documents.
- Beneficial owner’s name, date of birth, nationality, home address, percentage of ownership, and photo of identification documents.
- Provide information about Partnerships/Other Corporate Bodies (if any).
- In case the PayPal account holder is not the business owner: The confirmation form must be filled, stating that the business owner authorizes the use and maintenance of the account by the PayPal account owner.
Steps to open a business PayPal account in Pakistan?
Step 1: Register your US LLC
The first step is to register your US Limited Liability Company (LLC). A US LLC is a legal entity that provides liability protection to its owners. It is required to open a business PayPal account from Pakistan. Buzz Byte can assist you in registering your US LLC. Our team of experts can guide you through the process and ensure that your US LLC is registered correctly.
Step 2: Get an EIN
The next step is to get an Employer Identification Number (EIN). An EIN is a nine-digit number that is assigned to your US LLC by the Internal Revenue Service (IRS). It is required to open a PayPal account from Pakistan. If you get our services, we will be responsible to help you get an EIN for your US LLC.
Step 3: Get an ITIN
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS). ITIN is issued to tax-paying individuals who do not have an SSN. There is a complete procedure to follow in order to obtain the ITIN and Buzz Byte will help you do this. You can get more information regarding ITIN here.
Step 4: Create a PayPal account
Once you have completed the previous three steps, the next step is to create a PayPal account. You will need to provide personal and business information, including your name, email address, phone number, and other details. Buzz Byte will help you get started. Our team of experts will guide you through the process and ensure that all the information provided is accurate.
Step 5: Link your US LLC and bank account
To withdraw funds from your PayPal account, you will need to link your US LLC and bank account. You can add your US bank account details to your PayPal account. PayPal will make a small withdrawal from your account to verify it. You will need to enter the 4-digit code generated against the transaction by PayPal to confirm your bank account. Buzz Byte will actively help you with each step by assisting you in adding your bank account details to your PayPal account.
Step 6: Activate your PayPal Account
PayPal requires you to confirm your identity before you can start using your account. Make sure the name used for your bank account corresponds to the one used for your PayPal account. Buzz Byte can help you with this step by guiding you through the process of confirming your identity.
Remember! One wrong step and all down the drain. So, have an expert help you!
Congratulations! You have successfully created a PayPal account from Pakistan. You can now start accepting payments from customers worldwide. To receive payments, simply provide your PayPal email address to your customers. They can then send payments directly to your PayPal account. You can also send money from your PayPal account to others.
PayPal holds the first deposit amount and requires additional verification. Remember to never engage in any unusual transactions and make sure to always use PayPal via VPS.
In conclusion, opening a PayPal account from Pakistan can be challenging. However, with the help of Buzz Byte, the process can be smooth and hassle-free. Our team of experts can guide you through each step and ensure that all the information provided is accurate. With Buzz Byte’s assistance, you can legally open a PayPal account from Pakistan and start accepting payments from international customers. So, if you are looking to open a PayPal account from Pakistan, Buzz Byte is here to help you.