In many countries that support online money transfers, PayPal is a US-based company that operates an online payment system. It is an electronic alternative to paper money and facilitates money transfer. The service was launched by Elon Musk as X.com but was later sold to PayPal. So on the contrary, PayPal does not work in other countries.
Unfortunately, Pakistan is one of them, our beloved country. According to statistics, 200,000 freelancers, 7000 registered SMEs, and thousands of unregistered e-Commerce contributors are facilitated when PayPal arrives in Pakistan. However, there are a few ways for people who want to open a PayPal account in Pakistan. So, in this article, I will discuss how to create a Pakistan Paypal account in 2023.
Create a PayPal Account in Pakistan 2023
Acquire a UK Based Address
The first thing to do is acquire a UK address from those who want to register a Paypal account. The people have to pay 12 pounds per month to acquire a registered address.
Order a Virtual UK Sim
The second step consists of a UK SIM order. Then, use your UK-registered mobile virtual network. Giffgaff, for example, is a mobile network operating as a mobile operator on a virtual network that uses O₂’s and forwards it to your Pakistani address. Besides this, you can also use Digital Numbers for Vyke, DingTone, and TextNow.
Register a UK Based Limited Company
Register your UK-based Limited Company once you have ordered a UK sim. HMRC.Gov.dot.uk allows you to register your company. You must also pay a fee of 12 pounds once for registration.
Individuals with UK domestic address and company applications can either pay the fees using a Pakistani Debit/credit card or use an internationally accepted UBL Wiz Virtual Card for e-payments.
Apply for UK Bank Account
You now need to apply for a UK Bank account once you apply for the above remedies. In this context, with the aid of your Pakistani passport and UK address/number, you may use TransferWise Bank for your business account or Monzo Bank for your bank account. After the Bank account has been approved, activate the debit card of your new UK bank and perform at least one banking statement transaction.
Buy a UK VPS service
The UK VPS (a virtual private server that allows you to host your websites and applications in a fully isolated virtual environment) must now be purchased. Every month, the service costs $12.
Apply for PayPal Business Account using UK VPS server
After buying, your PayPal Business Account, you must log in to your UK VPS server and get the details of your UK company. Then, submit the registration document of your UK firm together with the bank statement for verification purposes. After the check-up, all PayPal services can be enjoyed legally.
You must all wonder that Paypal works in Pakistan before you read this post and many of you may be discouraged. But after going through the post, you should clear up all of your worries about creating the PayPal account and be delighted.