Singapore Expats

beppi wrote:It is impossible to change the registered address and phone number of a Singapore Paypal account to a foreign address or phone number.
Since the their Singapore customer service is even worse than elsewhere (Paypal is known for shoddy replies), I have not been able to figure out what that means if you don't have an actual Singapore address and phone number. They suggested to close the account and open a new one (lose reputation data and incure withdrawal or transfer losses), but did not say it is required to do so. Another time during the long communication process (they are all so dumb!!!) they even suggested entering invalid data and keeping the account. But I am not at all convinced that any of their replies is true, or in fact they understood my question or their own rules ...

New_Global_Trader wrote:Hi.

Once you have used your PP account for transactions (inward + outward) of approx 7,000/- SGD, paypal will ask you to provide the following information

- Business Registration Documentation, (ACRA, Registry of Societies of Singapore or other relevant document official documentation) as Proof of Address(please make sure the address shows on your documentation)
- A legible copy of a government issued ID (Singapore) of the account operator


Please note that the ID should be in the name of the person in whose name the PP account was opened and should be issued by SG govt.

If you fail to provide these details, the PP account will be limited and you will not be able to withdraw any balance.

Regards
RG

aahn wrote:

New_Global_Trader wrote:Hi.

Once you have used your PP account for transactions (inward + outward) of approx 7,000/- SGD, paypal will ask you to provide the following information

- Business Registration Documentation, (ACRA, Registry of Societies of Singapore or other relevant document official documentation) as Proof of Address(please make sure the address shows on your documentation)
- A legible copy of a government issued ID (Singapore) of the account operator


Please note that the ID should be in the name of the person in whose name the PP account was opened and should be issued by SG govt.

If you fail to provide these details, the PP account will be limited and you will not be able to withdraw any balance.

Regards
RG

Hi RG

Thanks for your response.

I have just incorporated my Singapore company PTE LTD and currently waiting for our bank account to be created. What happens if I as a foreigner open the PP account and provide the Singapore ID of the nominee director of the business? (We have used a nominee director service to incorporate the company)
Answer: Bank account in SG takes 15 minutes to open in OCBC/UOB. You may note the monthly balance requirements (approx 8000 SGD) to be maintained or they charge about 25 SGD per month. The name on PP account and the ID should match. You will need 2 id's as mentioned in my previous message.

I will be making the SG PP business account once I have confirmation of the bank account and will be using the Business address and phone number. I have confirmed with SG PP that using our 'business' address as the 'home' address is okay, although the responses were not provide as much confidence as I was hoping.
Answer: As you have confirmed with PP SG, it should be ok.

Currently we do not have any plans to have a Singapore resident on the paypal account but we can add them as another business owner with restricted access if it is required by SG PP.
Answer: Once your account is limited and PP needs verification, you cannot make any changes.

What do you think is the best way for me to handOnle this situation? SG PP advised me that if I access a Singapore PP account offshore (eg Australia / China) and try to send payments they will require verification. Do they just need to ID the account holder which will be myself?
Answer: If the payments are of high denominations, they may want to call you up to verify. Never heard of them doing it.

One last question, could you please direct me to where got the 7,000 SGD inward/outbound figure from? I am only worried about (b), as we will not have a singpore resident on the paypal account to show the ID.
Answer: The 7000 SGD is approx. It can be 5% +- also. I think they also count the refunds. You can google it, and you will be able to find about it. For more details, check the following link.
https://cms.paypal.com/sg/cgi-bin/marke ... r_customer



Thanks
Aahn

New_Global_Trader wrote: Does anyone knows of a bank in SG, which allows you to open a bank account in US, while in SG?

harshthackar wrote:Hi Aahn and RG,

Can you please advice which service provider you used for incorporation and bank account. Also is your paypal now verified using the same bank account and incorporation , Please advice ?

Thanks a Many

Regards,
Harsh

ttguru wrote:Interesting subject, I was looking for these answers.

I remember PP also check the IP address of the country from where you are logging in, so that operating Singapore PP account from another country is not a good option too.

ttguru wrote:I need to know if it is okay to use the Nominee Director as the user to open the PP account?

ttguru wrote:Interesting subject, I was looking for these answers.

I remember PP also check the IP address of the country from where you are logging in, so that operating Singapore PP account from another country is not a good option too.

I need to know if it is okay to use the Nominee Director as the user to open the PP account?