PayPal priorly known as X.com, is a US-based firm running an online payment system in a large number of countries that sponsor online money transfers. Primary, it is an electronic alternative to the paper money and provides ease of transferring money. The service was started by famous Elon Musk as X.com but later sold it after which it became PayPal. However, on the contrary, there are some countries in which PayPal doesn’t operate. Unfortunately, our beloved country Pakistan is one of them. According to statistics, if PayPal arrives in Pakistan, it will facilitate 200,000 freelancers, 7000 registered SMEs and thousands of unregistered e-commerce contributors. However, there are some ways for those who wish to wish to create a Paypal account in Pakistan. So in this article, I am going to elaborate on how to create a Paypal account in Pakistan in 2021.
How to Make a PayPal Account in Pakistan?
a) Acquire a UK Based Address:
First of all, the individuals who want to create a Paypal account need to acquire a UK based address. To get a registered address, the individuals will have to pay 12 pounds every month.
b) Order a Virtual UK Sim:
The second step involves ordering a UK SIM. You can use mobile virtual network registered at your UK address. For instance, Giffgaff is a mobile telephone network running as a Mobile Virtual Network Operator using O₂’s and get forwarded to your Pakistani address. Apart from that, you can also use Vyke, DingTone, and TextNow for Digital Numbers.
c) Register a UK Based Limited Company:
After ordering a UK sim, register your UK based Limited company. You can register your company at HMRC.Gov.dot.uk. For registration, you will also have to pay a fee of 12 pounds once.
d) Payment options:
The individuals who applied for UK based address and the company can pay both fees via Pakistani Debit/ credit card, or they can also use UBL Wiz Virtual Card, which is accepted Internationally for e-payments.
e) Apply for UK Bank Account:
After applying for the above-mentioned remedies, now you will need to apply for a UK Bank account. For that purpose, you can use TransferWise Bank for Business account or Monzo Bank for Personal Bank Account with the help of your Pakistani Passport along with UK-based address and number. Subsequent to the approval of the Bank account, activate your new UK bank’s Debit card and make at least one transaction to generate bank statement.
f) Buy a UK VPS service:
Now you need to purchase a UK VPS (A Virtual Private Server enables you to host your websites and applications in a fully-isolated virtual environment) service. The service will cost $12 dollars each month.
g) Apply for PayPal Business Account using UK VPS server:
After purchasing, you need to connect to your UK VPS Server and apply for PayPal Business account along with your UK-based company detail. For verification purposes, submit your UK-based company’s registration document along with the bank statement. After verification, you will be able to enjoy all PayPal services in a legal manner.
Before reading this article, you must all be wondering that does PayPal work in Pakistan, and many of you might be discouraged about it. But after going through the article, your all doubts regarding the making of PayPal account must be cleared, and you must be feeling joyous about it. So if you find my article informative and helpful, do tell us about it in the comment section and if you have queries regarding it, you can also share them in the comment section!