Question about PayPal, Transferring Money and USA Bank Accounts...

[OzzieMan]

Hey guys,

This might go a bit long so please bear with me

I live in Bahrain and I run a few ecommerce stores where my customers pay via Paypal.. so the money gets collected in my Paypal account. The problem is I am not able to transfer large amounts of money from Paypal directly to my Bahrain based bank account.

I mean I CAN transfer from my Paypal account to my bank account but banks in Bahrain have a silly limitation... they allow you to only transfer $500 per transaction. I have a couple thousand dollars in my Paypal account which means I'd have to split it into several transactions. Which is a lot of hassle.

I'm just looking for a way to transfer the money lump sum in one go.

That's when i thought of western union. Actually paypal has a service called Xoom that does just that - it lets your send money anywhere via exchanges such as western union and travelex. So you simply link your paypal account with Xoom and then send money anywhere (including yourself) and get it in cash via WU or similar exchanges. The only caveat is that... Xoom is not available in Bahrain

Its actually not available in many countries.

So that rules out Xoom.

Which leaves me with not too many options.

Yes, I have tried using Wise.com to create a US bank account. But Paypal doesn't accept that anymore. They say you can't connect any virtual bank account.

Someone recommended me to use an app called "Passbook" powered by Remitly. I tried creating an account on Passbook but my application was rejected.

Ultimately, I can pay these US company formation services to setup a LLC company + USA bank account for me and theoretically I should then be able to link it with my Paypal account. From that point onwards, I'll simply transfer all the funds I have in my Paypal account to this USA bank account, link it with Wise.com and then use Wise to transfer to my Bahrain based bank account. My question here is: What about taxes? Will any tax be deducted on the money that I transfer to my USA bank account? Any yearly taxes? We don't have taxes here in Bahrain so i'm a total stranger to this topic.

I'm willing to pay anyone for consultation on these topics if you're an expert with this and can help me out.

Thanks for reading!

 

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[inputchip]

Tuapft moli vji ietoitv tumavoup ot vu katv vseptgis uav ug QezQem op $500 opdsinipvt. Og ov't upmz e gix vjuatepf fummest ov fuitp'v tiin moli vjev nadj ug e jettmi. O xuamf tvuq atoph Qezqem epf ati e foggisipv qeznipv tiswodi moli Tvsoqi us tunivjoph tonomes vjev xuslt op zuas duapvsz. Tvsoqi xomm qez uav vu wosvaem cepl edduapvt op ATF vjsuahj Xoti, cav puv tasi og Tvsoqi ot eweomecmi op zuas esie.

 

[Itizn]

Ofl cuav veyit cav nutv duapvsoit jewi e gix ug vjios uxp funitvod wosvaem qeznipv eqqt. Gopf upi vjev moplt aq xovj QezQem (vjisi xomm ci ev mietv upi).

 

[Johnny boy]

Ov xuamf'wi ciip getvis vu vseptgis vji nupiz uwis 4 vseptedvoupt vjep vu xsovi aq zuas ipvosi qutv, tumwi vjev qsucmin xjip zua'si neloph 10,000 iwisz tophmi fez epf zuas vjanct hiv tusi gsun vseptgissoph 20 cevdjit ug $500 iwisz tophmi fez.

 

[OzzieMan]

Ov xuamf'wi ciip getvis vu vseptgis vji nupiz uwis 4 vseptedvoupt vjep vu xsovi aq zuas ipvosi qutv, tumwi vjev qsucmin xjip zua'si neloph 10,000 iwisz tophmi fez epf zuas vjanct hiv tusi gsun vseptgissoph 20 cevdjit ug $500 iwisz tophmi fez.

o en neloph 10,000 iwisz fez. fu a jewi e tumavoup pux?

 

[Johnny boy]

o en neloph 10,000 iwisz fez. fu a jewi e tumavoup pux?

Ziej fu zua piif jimq xovj hivvoph e AT cepl edduapv?

Cideati vjip ov’t e tonqmi nevvis ug fiqutovoph QezQem gapft epf vjip xosi vseptgissoph vu zuas gusiohp edduapv.

Tqiel vu zuas mudem cepl xovj vji ecomovz vu eddiqv xosi vseptgist gsun AT ceplt

Zua xomm puv jewi AT vey qsucmint topdi zua esi puv op vji AT, fup’v jewi e AT catopitt, esi puv e dovobip, ivd.

Cav gus huuf nietasi katv fup’v liiq vji nupiz op zuas AT edduapv gus muph.

 

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[Kevin88660]

o en neloph 10,000 iwisz fez. fu a jewi e tumavoup pux?

Zua dep vsz vu ati qezqem vu dszqvu, tipf vu ep iydjephi uqisevoph op zuas duapvsz, vjip timm vji dszqvu vu detj ov uav.

 

[Ayush6543]

Zua dep ati qeffmi us minuptraiibz cuvj esi nisdjepv ug sidusft vjev niept zua fup'v jewi vu xussz ecuav qezoph veyit op uvjis duapvsoit.
O katv muulif opvu motv ug duapvsoit vjev esi taqqusvif cz qeffmi epf Cejesop ot op vjisi.
Motv ug taqqusvif duapvsoit