There is a growing number of non residents opening Limited Companies here in the United Kingdom, with each one needing to open a British Business Bank Account for a Non UK Resident.
The availability of bank accounts for these companies has become considerably harder to open.
The high street banks will not always allow the opening a business bank account for anyone who is not a UK resident.
Even if you traveled here to the UK, there is still a high chance your application will be declined.
So is it essential to open a British Business Bank Account for a Non UK Resident?
It is not essential to have a bank account in the UK for your Limited Company, but it will help if it were.
If you are doing business in the UK then you will want a business account here so that you can easily collect your local GBP payments.
As such, any business account based outside of the UK will almost certainly not be very suitable.
So when you open a British Business Bank Account for a Non UK Resident your account will include a Sort Code & Account number, allowing you to make and receive local Faster payments.
This will eliminate the need for your clients to make International payments to you, as you can collect your GBP payments directly into your account.
There are the options if you cannot open a mainstream bank account for your business.
There are a number of options available with FCA regulated (https://www.fca.org.uk/) business account providers who offer British Business Bank Account for a Non UK Resident.
The main benefits being your account can be opened without the need to travel to the UK, so will be processed quicker.
It also means you can start trading as quickly as possible and without any unnecessary delays.
For further details of a British Business Bank Account for a Non UK Resident please Contact Us or telephone +44 20 32 86 39 29