The demo site includes all features and functionality that are included with the theme, but yes you have to add your own data (categories), and configure sidebars and settings including custom forms from the admin dashboard. The work is already done in terms of what the theme has to offer, but you do need to take time to go through and do the initial setup. Yes, PayPal is already built into the theme so you just need to create a PayPal account. The payment gateway plugins are not all based in the US, but you may need to read through the information on the payment gateways own sites regarding supported countries, this will help determine if your currency is supported. Thanks.