Open Business Bank Account in UK

Opening a Bank Account in UK from another Country

We can assist you to open your bank account in UK!

Opening a business bank account in the U.K. is easier than you may imagine so long as the company has U.K. resident shareholders and directors. Banks in the U.K. offer a range of different account options. As with any onboarding process you will need to provide the relevant documents – personal ID, proof of address, details about directors and shareholders and the company’s incorporation documents

What Documents will you Need to Open a Business Bank Account in England?

For incorporated companies they will need to present accurate financial records and any other specific documents the bank might request. Once you have submitted the documents the U.K. bank will verify the information and run routine KYC checks to insure that the potential customer meets all requirements and is eligible. Running a company, especially an LTD is extremely hard, if not impossible without a corporate bank account.

Apply for a Bank Account in UK

For Individuals and Companies

What Documents will you Need to Open a Business Bank Account in UK?

Required Documents for Opening a Business Bank Account in the U.K.

  • Explanation of the company’s shareholding structure.
  • Limited companies and partnerships must provide their Companies House registration number.
  • Certificate of registration.
  • Articles of association.
  • Business plan including future projections.
  • Description of the company’s activities.
  • Proof of identification for the company directors – passport or other photo-ID.

Proof of address in the form of a utilities bill, council tax statement etc.

Open UK Business Bank Account

For International Business, European companies, eCommerce and online activities.

Barclays; Lloyds and HSBC are the largest financial institutions in the U.K. and are usually easier to open account with than smaller banks. They have a lot of experience dealing with clients from around the world and with non-residents with bank accounts in the U.K. These larger banks tend to be more accommodating to the needs of non-residents. Their customer support can help you with any questions you may have and tell you which documents will be necessary for the onboarding process.

Best UK Banks for Non-Residents

Barclays accepts new accounts where the directors and shareholders are not U.K. residents. They offer an international bank account in dollars, pounds or euro. These funds are held in the U.K. or Jersey or the Isle of Man. Barclays international accounts can be managed online; by telephone or via the Barclay’s mobile app (only for pound sterling).

Lloyds Bank U.K. offers non-residents an international current account. It is possible to apply for a Lloyds Bank international currency account online. The international account can hold dollars, pounds sterling or euro. Lloyds does not charge for international payments (although the recipient bank may charge fees for receiving the funds).

HSBC offers a corporate bank account to companies with non-resident directors and shareholders. These accounts can be opened by post or by visiting one of their branches. With the HSBC corporate bank account you enjoy round-the-clock customer service, no monthly fees and daily ATM cash withdrawals. You can access your HSBC account with a simple login from anywhere in the world.

Non-Residents and U.K. Bank Accounts

A non-resident is defined as a person not living in the U.K. and does not have a U.K. address. This can apply to foreign nationals or British expats living outside of the U.K. Customers do not have to physically live in the U.K. in order to open a U.K. corporate bank account but most U.K. banks will only consider applicants with U.K. residency. You have a better chance of being accepted by a U.K. bank if you can obtain U.K. residency before you apply for an account. Businesses registered outside the U.K. will still be able to open an international bank account at a U.K. bank through their international division. The larger U.K. banks offer accounts specifically geared towards non-residents. In some cases you can even apply for an international U.K. business bank account online.

Alternative Finance Providers

Recently there has been a rapid expansion in the EMIs (E-Money Institutions) market. EMIs have started sharing the market with traditional banks. They offer traditional banking services but usually use the latest technology which allows them to provide a speedier onboarding process, lower charges, multiple login options, easier access from a wide range of devices, innovative services, advanced solutions for corporate needs and borderless accounts. EMIs can recognize the needs of innovative startups in a way that most traditional banks can’t. EMIs may be the future of banking and the end of conventional banking as we know it. An example of a reliable EMI is Valyuz UAB.