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Changing business from S-P to LLC?
 

Hey guys I opened up an account a little while ago and have been building it up slowly.

Its a business paypal+ebay account.

I opened it as a sole proprietor and now want to make it an LLC. Any chance of doing this?

Thanks

Curious, you submit EIN yet?

And have you had to submit any personal information other than business name?

I have not.

No other information.

Yesterday evening after posting this I decided to take a look in the account options. Looks like you can. So I did that, gave me an option to input the contact name for the business. Pretty simple stuff. If they do limit, you dont need any personal information from what I am aware of. Just bank statements, business registration and you can blot out any names legally.

Its the best way to be legit. I pay my taxes and this seems like a great way to open another paypal/ebay account. Just go slow.

So if they do limit and what not (when not if), I will provide a ton of documents, invoices and what not and just ask them to supply my EIN(which I already have available) and just say we do not want to provide any employees SSN. By law they cannot ask for this.

Excellent news then.

I have my EIN setup, but won't be starting the PP and EB accounts until next week. Glad to hear all is well so far. Thank you for following up.

I hope you update us on this - although I'm in the UK a lot of what you are saying could well have significance for us

:pop2:

Not new. If you supply company details in the UK, same level of protection ;)

I know, but I thought I was the only one doing this. I have 3 LLC on the go at the moment and 2 T/A. I would like to convert the T/A to LC but I don't want to raise flags. I'm still 'chewing' it LOL

Yeah I did a ton of searching and research and what not, this seems to be the best way to actually be legitimate. How the big boys do it ;)