There is currently a problem where users cannot submit new applications to Developer.PayPal.com. There are a couple of possible workarounds that you can check.
Make sure your Developer.PayPal.com account has a first and last name associated with it, and that you have a “facilitator” account saved in the “Service Records” section. If you do not have a facilitator account, you can add it simply by creating a new account with an email address formatted as follows: xy-facilitator@domain.com
I will update this thread again when the patch is released or more information is provided.
Edit: The problem where valid accounts were not able to send an application should be fixed. Make sure the account for which you are requesting the application is on this list and you should be good to go: https://developer.paypal.com/webapps/developer/docs/integration/direct/rest_api_payment_country_currency_support/
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