How to open a business bank account for non-UK residents?

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A UK Business Bank account does not accept an application unless it has a UK residence. Therefore, only UK residents can open a business bank account in the UK or it is necessary to acquire UK residence before applying for it.

But a non-UK resident i.e. a person who lives outside of the UK can easily open a bank account with the following steps.

  • The following documents are required to open a UK Business Bank account: 

ID Proof: A valid passport.

Address Proof: Recent utility bill, tax bill, Legal driving license, client build statement, or a recent credit card, bank statement.

  • You will need to hire a Nominee Director for your company from the UK. It will enable the possibilities to get a Bank account for your UK Company.

  For more information watch the video given below :

Recommended Business account banks

Usually, it is easier to open bank accounts with some high street banks in the UK i.e. Barclays, HSBC & Lloyds, etc. It is because they have a lot of working experience with non-residents, helping them to be flexible about their needs.

Contacting customer service is also recommended when trying to open a bank account. This way, you can get more information and ask any questions you may have.

1. Barclays

You can sign up to create an international bank account in one of three major currencies the dollar, sterling, and euro and hold those funds in the UK, Jersey, or the Isle of Man.

This account includes international online banking, telephone banking, and access to the Barclays Mobile Banking app. 

To open a Barclays bank account, you must be:

  • At least 18 years old and

  • Have a minimum balance of £25,000 (or equivalent currency) in cash or depositary investments

2. HSBC Inc.

This account comes with no monthly accounts fee, 24/7 customer service, withdrawals of £500 daily ATM cash, and the ability to manage eligible HSBC accounts worldwide through one simple login.

 To qualify for this account, you must be:

  • Able to provide HSBC with approved proof of identity (usually your passport) and

  • Address (where applicable, translated into English),

  • Pay at least 1,750 (or at least £10,500 every 6 months) to the account.

3. Lloyds

You can open the account in one of three major currencies, i.e. dollar, sterling, and euro.

This account comes with free International Payments, Lloyds Bank does not charge you for sending or receiving money transfers while receivers and related banks charge a fee for receiving payments.

The account also comes with Internet Banking and PhoneBank enabling you 24/7 access to your funds.

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