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US Paypal business account opening for foreign owned LLC
 

Hey guys!

I am a foreign resident founding a US LLC. to do dropshipping for US customers.
I need a Paypal account, but even after i give them my business details including EIN number it keeps asking for SSN as well, which i clearly cant have as a foreigner that is why i incorporated :doh:
That is for US Paypal business accounts.

Anyone has any experience with this? I could open a Paypal account in my home country which does not make any sense as my business is US based and the international sellers and transfer fees of Paypal are ridiculous.

I know there are alternatives for PP but for now i want to stick with Ebay as a partner and their customers love PP...catch#22?

Thanks in advance,

Zsolt

Re: US Paypal business account opening for foreign owned LLC
 

First of all you'll need a USA IP through VPN to operate a USA account.

Second I wouldn't give them any document info if they didn't ask for it as to not trigger the request itself for more info.

Are you trying to make a real PP account under your own name or so?

Re: US Paypal business account opening for foreign owned LLC
 

Hey bro,

Yes of course i want to open the PP account under my own name, as my business runs under my own name too. Business accounts require a business name and a personal name, an EIN number and an SSN too.

IP has nothing to do with this, as thousands of ppl are using and opening US Paypal accounts around the globe. However, using a VPN is a wise choice in my field but not because of this particular cause.

Most probably, the ITIN number will solve the problem, and its only a negligence from PP that this option is not visible on their sign-up page, but the two identificators (SSN and ITIN) have the same format. My lawyers say it will work with the ITIN, and as a foreigner i can get one from the IRS...

So maybe there is still hope. PP signup is confusing, their customer service is clueless and ITIN takes at least 4-5 weeks to get from the IRS.

Re: US Paypal business account opening for foreign owned LLC
 

question,how do you plan to take the money out of your US Paypal account,

Re: US Paypal business account opening for foreign owned LLC
 

You can have a local Paypal account and accept different currencies,if you dont want to pay high fees for currency conversion,then ask for local currencies,then the fees for exchange will be paid by the buyers,if they still want to buy from you !

Re: US Paypal business account opening for foreign owned LLC
 

Hi, i would withdraw preferably with a new US business bank account, as i need it for my LLC anyway. Or optionally with a Paypal debit card if withdrawals are not super expensive outside of the US.

Yes i could use a local Paypal, but then Paypal would eat half of my profit margins. There are narow margins in Ebay Dropshipping, and huge competition on the US market. Other platforms of dropshipping are far more profitable then Ebay, but it requires many skills and/or upfront investment, Ebay is the best for a beginner.