Hi all,
I originally started an Etsy shop from Korea, with a Korean bank account. 95% of my sales are to the US.
Now I have moved back to France, and I am having problems with Paypal's rule requiring you to be in the country where your bank account is. You can't even change the connected bank account, you have to close your current PP account and open a new one.
It's a problem because I want to start scaling the activity, but I don't want to have to withdraw my sales on my French bank account, since the taxes here are super high. I could be taxed up to 65% of revenue.
My question is: I've read that whatever the country you have your original bank account in, you can also connect a US bank account to your PP.
Is that true? If it is, I'm wondering whether I could set up a US company, in say South Dakota, open a bank account, control the PP and make the payments I need to make from here in France and withdraw the funds to the US bank account. I would surely pay lower taxes in the US, and have another company here in France just for production and pay myself a salary. The company here would basically be working for the US one. The US company would be it's only customer.
So, do you think that if I could set up a US company and open a bank account, I could add it to my PP account, even though I am based in France?
(I know that I should probably be asking this on the PP community forum, but I thought that I might get some good advice here)
Thanks in advance for your advice
I originally started an Etsy shop from Korea, with a Korean bank account. 95% of my sales are to the US.
Now I have moved back to France, and I am having problems with Paypal's rule requiring you to be in the country where your bank account is. You can't even change the connected bank account, you have to close your current PP account and open a new one.
It's a problem because I want to start scaling the activity, but I don't want to have to withdraw my sales on my French bank account, since the taxes here are super high. I could be taxed up to 65% of revenue.
My question is: I've read that whatever the country you have your original bank account in, you can also connect a US bank account to your PP.
Is that true? If it is, I'm wondering whether I could set up a US company, in say South Dakota, open a bank account, control the PP and make the payments I need to make from here in France and withdraw the funds to the US bank account. I would surely pay lower taxes in the US, and have another company here in France just for production and pay myself a salary. The company here would basically be working for the US one. The US company would be it's only customer.
So, do you think that if I could set up a US company and open a bank account, I could add it to my PP account, even though I am based in France?
(I know that I should probably be asking this on the PP community forum, but I thought that I might get some good advice here)
Thanks in advance for your advice
