Well it is very true that registering a Limited Company in the UK is one of the easiest and best structured available possibly in the world for a variety of reasons, but try opening a business bank account for that new company and you will soon realise that not everything is that easy in the UK!
So registering a Limited Company in the UK takes no more than a day or two to be live and you only require a minimum of 1 director & shareholder and a UK registered address.
Opening a business account for that imited Company however, is a completely different prospect…
Many, if not all, the mainstream banks have very little interest in offering business accounts to those who are non-UK residents. They may offer the odd account if you have a huge deposit, or can visit the bank in person, but even if you can come to the UK, there is still no guarantee that the will offer you an account.
So what are the options if you need to have a UK business account for your new company?
The options generally available would be an FCA regulated (https://www.fca.org.uk/) online business account which will allow you to open it with no UK visit required, so everything can be done remotely, with each one offering a UK sort code & account number, allowing you to receive all your UK payments direct in to your own account.
The application will be based on the identity of the directors and shareholders and when opened will legitimately allow you to accept your payments, pay staff, suppliers and do all your normal banking type activities no matter where in the world you are.
There may be some compromises, but essentially it will be the only official business account you will be able to open without the need to visit the UK and that can be opened very quickly – plus the often don’t come with any long term contracts, so you can always open until such a time as when a more mainstream account becomes available.
Do you have any questions regarding registering a Limited Company in the UK or would like some further information? Call us on +44 20 3286 3929 and speak to one of our specialists who will be happy to discuss what your best options will be and how to proceed or Apply Online
