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PayPal Business Account for Non-Residents?

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Joined: Sun, 07 Oct 2018 6:18 am

PayPal Business Account for Non-Residents?

Post by relic1212 » Sun, 07 Oct 2018 6:34 am

Hi, I have a Singapore company and a USD currency bank account with OCBC. I used a nominee director to set it up and I am a non-resident of Singapore.

I'm trying to set up a PayPal account, but I'm currently running into these issues which I wanted to see if anyone had experience in solving:

1. Do I need to be a Singapore resident to set up a PayPal account for my Singapore company?

I called PayPal, but they didn't clarify this for me - they said I could put in fake information for now for a NRIC/FIN (not sure why they'd say that), but I don't want to encounter issues later. I heard once you've hit a threshold of $7000 SGD in your account, they will require additional information/verification. Can anyone confirm?

2. Is there a way to withdraw USD to an OCBC USD currency account? Or can I only withdraw in SGD?

Thanks in advance!

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