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Is it possible to create a business paypal account without operating a registered business?

drdrakedrdrake Member
in Help

Hi,
As the title says. I want to sell some e-books (legally) online. I have not registered a business in my country because it would be useless. Can I open a business account without having a bank account in my business name?

Thank you.

Comments

  • EdgeWebEdgeWeb Member

    Yes, although depending on your country of residence, and how much money passes through the account, PayPal may ask for proof of business ownership etc.

  • drdrakedrdrake Member

    @EdgeWeb said:
    Yes, although depending on your country of residence, and how much money passes through the account, PayPal may ask for proof of business ownership etc.

    Thanks. How much is that usually?

  • deankdeank Member, Troll

    Ask Paypal?
    It depends on your location. But, if you are going to run a summer host, it shouldn't be an issue. You will be out of business before it takes off anyway.

    Thanked by 4timnboys pbgben Pwner SteveMC
  • cociucociu Member

    normaly until 2500 eur is not a problem

  • TheOnlyDKTheOnlyDK Member

    I believe there's an option to add a bank in your personal name rather than the business name. But this may be different depending on the country. What's preventing you from registering a PayPal account then try it?

  • drdrakedrdrake Member

    @deank said:
    Ask Paypal?
    It depends on your location. But, if you are going to run a summer host, it shouldn't be an issue. You will be out of business before it takes off anyway.

    That's some serious negative thinking my friend. It might hurt your health.

  • RadiRadi Host Rep, Veteran

    Yes. I have one. :P

  • drdrakedrdrake Member

    @Radi said:
    Yes. I have one. :P

    Can you withdraw to your personal bank account?

  • KobeKobe Member

    In Canada, you can register as a sole propeitor assuming you have a business number.

  • RadiRadi Host Rep, Veteran

    @drdrake said:

    @Radi said:
    Yes. I have one. :P

    Can you withdraw to your personal bank account?

    I only tried withdrawing to personal VISA. I believe it will work with bank account as well, since you don't verify it with name but just number. They make deposit and you tell them how much they deposited and you are set. I believe you can withdraw even without that verification.

  • mycosysmycosys Member

    @Kobe said:
    In Canada, you can register as a sole propeitor assuming you have a business number.

    Likewise in Australia - I have a personal and a business account in the same name.

  • aglodekaglodek Member

    @Radi said: I only tried withdrawing to personal VISA. I believe it will work with bank account as well, since you don't verify it with name but just number. They make deposit and you tell them how much they deposited and you are set. I believe you can withdraw even without that verification.

    I believe they check whether the name on the bank account matches the name on your PayPal account.

  • RadiRadi Host Rep, Veteran

    @aglodek Even if they do as long as name is same, he is fine.

  • AnthonySmithAnthonySmith Member, Patron Provider

    Yes with limits, in the UK you can also register a sole trader account.

  • dragon2611dragon2611 Member

    @AnthonySmith said:
    Yes with limits, in the UK you can also register a sole trader account.

    Yeh, but you should also register with HMRC and file a yearly tax return. It's a ballache but if you are going to tell paypal you are a business/Sole trader you definately want to. as if HMRC find you've been gaining addational income and not disclosed it then I believe it's fines and/or jail time even if you make pittance the goverment can't stand the idea they don't get their cut.

  • AnthonySmithAnthonySmith Member, Patron Provider

    Its a £100 fine for late filing with interest.

    Obviously if there is tax to pay you pay it, that is not really in question.

  • drdrakedrdrake Member

    @dragon2611 said:

    @AnthonySmith said:
    Yes with limits, in the UK you can also register a sole trader account.

    Yeh, but you should also register with HMRC and file a yearly tax return. It's a ballache but if you are going to tell paypal you are a business/Sole trader you definately want to. as if HMRC find you've been gaining addational income and not disclosed it then I believe it's fines and/or jail time even if you make pittance the goverment can't stand the idea they don't get their cut.

    @AnthonySmith said:
    Its a £100 fine for late filing with interest.

    Obviously if there is tax to pay you pay it, that is not really in question.

    I live in a third world country and i don't give a f*ck about the government.

    Thanked by 2OpticalSwoosh lazyt
  • OpticalSwooshOpticalSwoosh Member

    @drdrake said:

    @dragon2611 said:

    @AnthonySmith said:
    Yes with limits, in the UK you can also register a sole trader account.

    Yeh, but you should also register with HMRC and file a yearly tax return. It's a ballache but if you are going to tell paypal you are a business/Sole trader you definately want to. as if HMRC find you've been gaining addational income and not disclosed it then I believe it's fines and/or jail time even if you make pittance the goverment can't stand the idea they don't get their cut.

    @AnthonySmith said:
    Its a £100 fine for late filing with interest.

    Obviously if there is tax to pay you pay it, that is not really in question.

    I live in a third world country and i don't give a f*ck about the government.

    Bradford although it seems it is not a third world country

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