The Non-resident Business Bank Account Challenge

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Did you know that The World Bank ranks the UK as the second easiest place to operate a business. So it’s not surprising that Starting your company in the UK as a Non-Resident is very simple process. However, opening a UK based Business Bank Account has posed a number of challenges for customers in the past.

The Non Resident Business Bank Account challenge:

All UK high street (main) banking institutions require you to be present in the UK to meet in a branch to complete your bank account opening. This of course is not always practical for customers who are based outside the UK, to travel to the UK to open a bank account.

The Solutions to opening a Business Bank Account for a UK Company

It should be noted that it is in fact, not a obligation in anyway for a Limited Company in the UK to have a Business Bank Account in the UK.

1. Open an Business Account in your home country

As there is no requirement to have a UK based business bank account, this means, you are free to open a business bank account in your own country in the name of your business.

2. Barclays International Bank Account

The Barclays International Business Bank Account can be opened online.
It will allow you to open your account from anywhere in the world, so for a non-resident this would appear convenient. However, you need to deposit £25000 into the account within 3 months of opening the account, to meet the conditions of keeping the bank account.

If you feel this account could be suitable for you, contact Barclays International to learn more
Phone: +44 (0)2075 743242 Email: BUKclientsupport@barclays.com.

3. Try a Online Business Bank Account

There are a number of Online or Virtual Business Bank Account Options available to local and international company owners.
Some recommended Online Business Account Options include:

The best business bank account for a non-resident will depend on your circumstances and your location. Get in touch with us to learn more about the best options for your business.

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