Offshore RAK (UAE) and PayPal Business

[Markus69]

Hi there, in the last period I'm thinking to migrate my business into the RAK Offshore free zone, the only problem would be PayPal.
I already had a UK company with a TransferWise account and the paypal account got limited after few months, as I understood PayPal does not accept Fintech companies but only real bricks banks.

Someone have some experience to share about RAK Offshore + Emirates Islamic Bank and PayPal Business?

Thanks in advance.

 

[SaintVince]

In Hong Kong PayPal accept Neat cards.
so try to set up an account with Neat and use it for paypal.

 

[Markus69]

SaintVince said:
In Hong Kong PayPal accept Neat cards.
so try to set up an account with Neat and use it for paypal.
Click to expand...

Neat Account with the UAE Company or HK?

 

[MarkusM]

Neat works with UAE also?? I am interested in this option!

 

[Spinat]

Here Neat is the list of restricted countries with NEAT UAE does not show up there!

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[NicolasMaduro]

NEAT does not support companies incorporated in UAE

They only support companies incorporated in the following countries:

• Australia
• British Virgin Islands
• Cayman Islands
• Denmark
• France
• Germany
• Hong Kong
• Ireland
• Italy
• Netherlands
• New Zealand
• Singapore
• United Kingdom

They also have relatively stricft restrictions in regards to shareholders and directors residencies and nationalities.

 

[NicolasMaduro]

Markus69 said:
Someone have some experience to share about RAK Offshore + Emirates Islamic Bank and PayPal Business?
Click to expand...

Yes. I think it´s impossible for you to get a business account with Emirates Islamic Bank unless you are jesus,
or a billionaire.

 

[James2774]

Does your paypal account need to be in those listed countries? Or from anywhere?
How much volume?
I always ask too, is PayPal needed or is it really just a merchant account of any kind you need? Might be easier to just ditch PayPal as they are the top complaint I hear and Im sure youre aware as well.