To operate in the UK, you don’t necessarily always need a UK bank account. However, establishing one (or more) is a good idea, as it adds credibility for your company, and enables you to handle local transactions at a lower cost. This guide sets out your options for a UK business bank account as a non resident.
To open a UK business account, you’ll need all of the details gained through your Companies House registration (whether you’ve registered a new business or registered as an overseas company) as well as personal identification for named account holders.
Appointing a UK resident Company Director or Shareholder and investing in a UK place of business such as a serviced office can help to support your application too.
Whatever bank you choose to open an account with, we advise inward investors to engage directly with the bank’s international on-boarding team. Every major bank offers a centralised specialist function to help you as an international business access the best solutions and services tailored to your needs.
If you need more support Cornwall Trade & Investment can connect you with the Department for International Trade’s Business Environment Advisory Team who have dedicated banking specialists on hand to help. Just get in touch – email@example.com
As an established organisation, it’s possible that the bank in your home country that manages your existing banking needs operates in the UK – or has a partner bank here. If so, it’s certainly worth contacting them and finding out if they can help you create new accounts for your UK-based entity.
Having your existing bank involved can simplify the process, and make establishing a UK financial base easier.
You can find out more about setting up a business in the UK here.
Find out how Cornwall Trade and Investment can help your business.
Whether you’re looking to locate in Cornwall, or to start exporting beyond its borders, get in touch with our friendly team to talk through your needs.