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Business bank account for non-UK citizensView packages

Do I have to live in the UK to open a business bank account?

You do not have to live in the UK to open a business bank account. There are no restrictions legally that stops non-UK residents and non-UK citizens from opening a UK business bank account. However, most banks follow stringent procedures to open a business bank account for overseas citizens because of money laundering, funding for illegal activities, fraud concerns and associated administrative costs.

Is it mandatory to have a business bank account?

There is no mandatory legal requirement for a UK company to have a business bank account in the UK. You can even use a personal PayPal account or something similar, to handle your business transactions. However, it is advisable to run a business bank account to win the trust of customers and suppliers in the UK.

Is it simple to open a business bank account in the UK?

It is very easy to form a UK limited company from anywhere in the world. However, the same cannot be said about opening a business bank account. It is becoming increasingly difficult to set up a business bank account with a major UK bank, unless you live and work in the UK. We have a few possible alternative options for you to consider.

Can you help me get a UK business bank account?

We have an affiliate agreement with a few UK and European banks. All these banks are regulated within their countries. Some of our affiliate banks are able to offer online electronic banking in the UK. They also offer UK bank account numbers, sort code, swift code and IBAN.

What are the options with major UK high street banks?

We have conducted a study on the options with the major banks in the UK and these are our findings. Please note: This may vary for every company based on the applicant’s status and the bank’s individual terms. We cannot guarantee either approval or rejection of your banking application.

HSBC

HSBC provides business account for UK-registered companies with non-resident directors. However, the non-resident director(s)/individual of the company must visit UK branch of the bank. They must also present supporting identification documentation and also sign a bank mandate. Please contact HSBC directly for more information and their current policy.

HSBC bank also has branches in many other countries including China, Singapore, Hong Kong, India and UAE etc. You can approach your local HSBC branch and see if they can help with opening a UK bank account for your UK company.

Lloyds Bank

Lloyds offers business bank accounts for non-UK residents. However, one of the director must live in the UK. This UK resident should visit the local branch in person to open the account.

Barclays

Barclays International offers an international business bank account and does not make any residency requirements. However, they usually require a deposit of £25000 to open the account. All non-resident applications must start from Barclays International in the Isle of Man. This bank account is classified as offshore, but it can be based in London, the Isle of Man or Jersey.Please contact them directly for more information.

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Prefer a personal manager to register your company on your behalf?

Worried about making mistakes? Not comfortable doing it yourself? We offer UK company formation service with a dedicated personal manager. Your personal manager will collect the details from you via email and register your new company the correct way. Please fill in your details and we will contact you.

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