How to change country in paypal account?

Log into your PayPal account and click on the “Settings” icon (the gear) at the top right corner of the screen.
Click “Manage all addresses” in the window near the top right corner of the Settings page.
Click to add a new address, then hit “Set as primary” (or change any existing address to your shipping location by hitting “Set as primary” beside it.)

Your will see a green check mark at the top of the screen with the note “You changed your primary address.”

PayPal allows every individual to create 2 accounts maximally (with the same information like name, address) but with two different credit/debit cards for 2 accounts.

If someone sends funds from their bank account, it can take 2 to 3 days to be processed. If the wrong email address is used, the funds go unclaimed and will be returned to the sender after 30 days. If your account is not verified, PayPal can hold the funds up to 21 days.

Yes : Your account is still valid and you can still access to your account use it for purchases or whatsoever you want to do. But you are limited to send items to your previous country address (I am presuming you or online shopping web site uses your PayPal address).