A foreign PayPal account, for tax purposes, would be treated the same as any other foreign bank account.
A Georgian PayPal account would be treated the same as any other Georgian online bank account.
The main things to know about PayPal in Georgia:
- Accepting credit card payments is almost impossible. So, for online payment processing, tools like PayPal or Stripe are a non-starter (we hope this will change soon).
- Getting money out of PayPal to a bank account is difficult and involves connecting a Visa card (not MasterCard) to the account, and withdrawing funds to the card, not to the bank account. Users report mixed results with making this work reliably.
- PayPal has horribly high fees in general. Which, if you have used it for international business in the past, you probably know already. If you have only ever dealt with one currency, in one country, then you may not be aware of just how overpriced PayPal can get.
- Other online payment processors, like Stripe, are simply not available in Georgia yet.
