Banking for Non-UK Residents
As a non-UK resident, you will face no obstacles when setting up your UK registered company, there are no requirements for UK residency or nationality. However, the same cannot be said about setting up a bank account for your company. In particular, you should note that our links to the UK High Street banks that are promoted on our web site only work if the owners of the UK company are resident in the UK. So non –uk residents cannot take advantage of the fast track referrals we offer.
The options that are available to you are as follows:
Operate without a bank account:
There are no legal obligations to open a bank account for your UK company. So if you can use a personal Paypal account or something similar, you may avoid the need to operate a bank account.
Approach a UK High Street Bank:
Although our referral system does not work, UK high street banks may still offer you an account if you meet their various requirements. In particular when your account is agreed, you may be asked to present your papers to a UK branch of the bank to finalise your application. For clients, living in Europe this is not such a problem. As far as we are aware you can approach the following banks:
HSBC have given some of our overseas clients bank accounts for their UK companies. They nearly always want to meet with the applicants in person. Please contact them to discuss your application and to find out about their business banking accounts on 0044 01470 697032.
Barclays International offers an international business bank account and does not make any residency requirements. They usually require a deposit of £25000 to open the account. Please contact them on 0044 01624 684316 for more information about their services.
Approach a branch of an international bank, local to you:
If your bank does not have a presence in the UK, there may be other banks in your area that do. Approach them to see whether they can help. For instance; clients in China, Singapore and Hong Kong can approach HSBC in Hong Kong who will open a Uk Account for their client’s UK company.
Request a referral to one of our European affiliates:
We now have agreements in place with a number of bank who will offer accounts to Non-uk residents. In some cases the application is completed online and without the need to attend a meeting. Some will open accounts free of charge and there is even a cashback option of £30 when your new account is accepted by the bank and activated.