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.