Not so long ago, the answer was a definite no. However, with companies registered in Seychelles, Belize and other offshore jurisdictions, the answer remains no. It is possible to open a PayPal account as any company and receive money through it. The problem arises when you want to access this money. For companies resident in the above-mentioned jurisdictions, it will not be possible to open a bank account in a place that is accepted by PayPal. In the past, there were some payment gateways that contracted and transferred the money to the offshore company's bank account, but these companies have now introduced unacceptable conditions.
If you want to introduce online payment in your business, we recommend a company registered in the UAE with a local bank account, or a local card acceptance company with whom cooperation is guaranteed, hassle-free and tested, and PayPal also works. This issue must be clarified when the company is set up, as it is not all the same at the time of incorporation, because there is one thing to be aware of: the card-accepting partner may request that the activity of general turnover be included in the company agreement, but there are certain activities that the bank will reject. It is therefore essential to seek professional advice, as a mistake of this magnitude can generate large additional costs. Our colleagues have many years of professional experience at their disposal. For more information here or contact us by phone or e-mail.