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]

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

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!

 

[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]

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

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.