I am from India and here paypal account is restricted in too many kind. Transaction can not be done within India, only credit card can be used to send money, bank account can not be used to send payment, auto withdrawing etc. Opening US/UK account will have full features and it will not restricted. Please let me know if I can open a virtual office and a business bank account in that country and after that open US paypal account after that? Is it legal? Also share if there are other alternatives of Indian businessman?
What kind of restriction you talking about? Almost everything can be done by an Indian PayPal. Be it sending or receiving money. Only limit is that you can't send money to people in India via PP, then better use NEFT to do online transfers.
Seems you havn't gone through whole post. Can you send money to other paypal user using your bank account? Suppose if your credit card has limit of 1 Lac then how can you send money amounting 10 lacs?
If you got that much money then bank would surely love to increase your credit limit. Or else get another card from a different bank. Anyway you can't use your bank account to send money via any international payment processors. They are require CC's.