PayPal Business Account Opening Process for Foreign Businesses from AZ

A 54% increase in customer transaction payment rate is the recorded figure when websites and e-commerce platforms use PayPal payment.

That is why the need open a PayPal account abroad To easily receive payments from international customers is one of the important needs of international business enterprises.

PayPal Business account with the advantages of easily receiving payments from many forms of Visa, Master Card, etc. along with a set of tools to support international businesses to do business online conveniently. 

In this article, GLA will help businesses understand the importance of PayPal Business accounts, attractive benefits and detailed PayPal Business account opening process from AZ for foreign companies in Singapore, Hong Kong, USA, etc.

1. What is PayPal Business?

PayPal Business is a global online payment solution that helps customers around the world easily make payments/purchases for businesses through websites and e-commerce shopping sites. Businesses can easily withdraw money from their PayPal account to their linked corporate bank account. 

Outstanding features of PayPal Business accounts include:

• Easy international payments: Customers around the world can easily pay with different currencies using a variety of payment methods on the website, e-commerce platform such as: Visa, Master Card, PayPal, etc. 
• High security capabilities: PayPal uses advanced encryption technologies to protect business and customer financial information.
• Integrates with a variety of online platforms: PayPal is affiliated with more than 10,000 online e-commerce platforms such as: Shopify, BigCommerce, WooCommerce, Wix, Etsy, Ebay, GoDaddy.
• Competitive transaction fees: Transparent and reasonable transaction costs. 
• Buyer's Protection, Seller Protection: Clear and transparent policies. Thanks to that, many PayPal users will feel more secure when making online transactions.

2. How PayPal works

PayPal payments are secure and support safe transactions for both buyers and sellers. 

In essence, PayPal is an intermediary payment gateway, therefore, information about the buyer's bank account, Debit card number and international credit card will be processed by PayPal according to procedures to ensure information security for the buyer. 

The buyer will transfer money from the bank account to the PayPal account or link the card to the PayPal account to pay the seller. Thus, all transaction information is guaranteed.

Furthermore, once using PayPal for payment, customers will not have to enter their payment card number (Visa, Master...) every time needed (because the payment has been made through the available amount in the PayPal account).

Payment via PayPal is very fast and convenient. For business customers, when a buyer pays via PayPal, the money will be in the business's PayPal account. The business has the right to decide whether to withdraw money from the PayPal account to a bank account, or to keep that money to continue paying suppliers, or simply to pay for any other service that accepts PayPal payments.

3. Why should foreign businesses choose PayPal Business?

Compared to traditional payment methods or other payment platforms, here are the reasons why foreign businesses should choose PayPal Business:

• Increase customer transaction payment rate by 54%: When PayPal appears on the payment methods of a business's website or e-commerce store, customers feel confident and secure, increasing the rate of payment for purchases by 54%. 
• Fast transaction speed and receiving money to business account: Once the customer completes the transaction and makes the payment, the PayPal account will receive an immediate notification.
• Increase business professionalism: PayPal is a famous and popular form of payment in the world. Therefore, businesses using PayPal as a payment gateway will be highly appreciated by customers and increase their prestige and professionalism. 
• Buyer's Protection, Seller's Protection: PayPal has very clear and transparent policies. Thanks to that, many PayPal users will feel more secure when making online transactions.

4. Compare PayPal Business and PayPal Personal

Nowadays, although the application of information technology in business has been optimized many times compared to before. However, there are still many businesses that have not integrated the PayPal payment gateway into their electronic payment process. Many businesses still use personal PayPal accounts, which are more risky than PayPal Business accounts. 

2 main types of PayPal accounts:

1. Personal: DFor individual customers who need to pay or receive payments for small value transactions in their personal capacity
2. Business: For business customers with large transaction volume and value.

Here is a comparison table between the two account types: PayPal Personal and PayPal Business:

Based on the comparison table above, businesses with large transaction volumes, receiving large payments and needing transaction management tools should open a PayPal Business account to meet their business needs.

5. What does a PayPal Business profile include?

Documents required to open a business PayPal account:

1. Copy of government issued identification document (NRIC/ Driver's License/ Passport). 
2. Copy of business registration certificate (Bizfile). 
3. Documents proving the business address such as: bank statements, electricity and water bills, etc. or other documents issued by foreign governments to businesses that clearly show the company address.
4. If the account opener is not listed as a director or shareholder on the company's certificate of incorporation, a power of attorney from one of the directors authorizing the person to open a PayPal account on behalf of the company must be provided.
5. Some other documents depending on the business activities of the enterprise. 

6. Detailed PayPal Business opening process from AZ

7. How does GLA support Businesses in opening PayPal Business accounts?

GLA supports Businesses to open PayPal Business accounts including: 

• Customer service Singapore company registration, Hong Kong, Mỹ, Offshore, etc. to open a PayPal Business account.
• Support open bank account in singapore, Hong Kong, Mỹ, etc. The selected bank will be among the top reputable local banks.
• Register, authenticate and open a PayPal business account.
• Support customers to integrate PayPal payment gateway into website to receive payment. 
• Support and advise on the process of underwriting PayPal business accounts when receiving large volume payments. GLA will advise on how to achieve the best underwriting results. 
• Consulting and support for registering to use premium PayPal services exclusively for PayPal Business VIP accounts such as: PayPal Pro subscription service for PayPal Business accounts, etc.
• Support and advice on using PayPal accounts to limit limits as well as facilitate future PayPal account re-evaluation, providing PayPal account limit removal service.

8. Frequently asked questions when opening a PayPal Business account

Highlights

• PayPal Business account is suitable for e-commerce and online businesses. 
• PayPal Business helps customers make payments/purchases for businesses through websites and e-commerce sites.
• GLA will support businesses to open PayPal Business VIP accounts when opening companies in Singapore, Hong Kong, and the US at optimal costs.
• Businesses that need to open a Stripe Business account for international business can contact GLA for detailed support.