PayPal Query

Niall0001

Hi all!

Just verified my PayPal account to get rid of the limits in anticipation of an online business venture that, if it gets off the ground, will pocket circa €2k per month from a foreign bank account belonging to the business I will be dealing with. Just curious as to whether I might be guilty of any wrongdoing by not registering as a business & if it's fine to transfer the monthly €2k into my bank account if unregistered.

Any advice greatly appreciated so I know I'm doing the right thing. Thanks in advance.

BengaLover

You need to register your account as a business one, for legal reasons and for your own safety as a seller.
You can also avail of extra benefits for merchants when registered as a business account.

Niall0001

Thanks!

To register as a business user will I need to provide a business name registered with the CRO & register as a sole trader or a business?

jor el

Thread moved from Online Buying & Auctions.

mneylon

Niall0001 wrote: »

Thanks!

To register as a business user will I need to provide a business name registered with the CRO & register as a sole trader or a business?

If you're going to be trading under your own name it's probably not needed.

However if you're setting up a business you should talk to an accountant, as you'll probably need to register for tax etc.,

MBateson

If you're setting up a business in your own name or not, you'll need to register for taxes.

MOH

Niall0001 wrote: »

Thanks!

To register as a business user will I need to provide a business name registered with the CRO & register as a sole trader or a business?

From a Paypal point of view, from what I remember, you need to send them a scan of documentation - your registration cert for your business name or company equivalent.
It's fairly straightforward, they make it pretty clear what they need.