UK Business Bank Accounts for Non-Residents
Business Bank Accounts for Non-UK Residents
Opening a UK business bank account as a non-resident is possible. The key is to find the right provider.
- Non-residents can open a UK business bank account
- Several accounts cater for non-residents, but your options are more limited
- A UK limited company must have a business bank account
Setting up a UK business bank account as a non-resident might take some extra research, but there are options available. You just need to know where to start.
Having a business bank account can benefit you as a business owner, and is mandatory if you register a limited company. Here’s all you need to know about business bank accounts for non-UK residents.
Which UK business bank accounts are available to non-residents?
Online-only providers such as Tide, Revolut, WorldFirst and Wallester tend to offer the simplest way for non-UK residents to open a UK business bank account, particularly if your business has no UK-resident directors.
While it may be possible to open an account through a high street provider, such as NatWest, these more traditional banks often require at least one director to be a UK resident.
Our Best UK Business Bank Accounts for Non-Residents
The following are UK business accounts that may allow non-residents to apply. However, we cannot guarantee that you will be allowed to open an account. Each of these products may be one of a range offered by the provider. Always check terms & conditions for suitability before applying. Only affiliated products are shown. Other products are available. Read our guide to ratings.
Provider | Product Name | Key Requirements | Monthly Fee | |
|---|---|---|---|---|
 | Business Bank Account Best for Taking Payments | Applications allowed from outside the UK but additional checks may be required. | Free | |
 | Start Up Business Account No Monthly Fees for 2 Years | At least one applicant must be a UK resident director. | Free | |
 | Basic Business Account Best for International Banking | Applications allowed if you reside in the European Economic Area (EEA), the United States, Australia, Singapore, India and some additional territories. | £10 | |
 | Business Account Best for Global Payments | Applicants do not need to live in the UK. | Free | |
 | Business Free Account Best for Tracking Real Time Expenses | Applications allowed from UK, Swiss, or EEA-registered businesses. | Free |
Do I need a UK business account if I’m a non-resident?
It is important to note that you do not need to use a UK bank account for your UK business. You might consider opening a business bank account in your country of residence instead.
However, there are advantages to having a UK business bank account. These include:
- Transactions: Sending or receiving money from UK-based customers, suppliers and employees is much simpler with a local bank account.
- Credibility and trust: A UK business bank account will make your business seem more established and trustworthy to potential customers and partners in this country.
- Tax: Your business will need to pay tax in the UK. Many UK account providers offer specific tools and materials to help business owners understand and fulfil their tax obligations.
- Expertise: Customer relationship managers from the UK have the knowledge and skill to help your business with any problems.
» MORE: What are the benefits of a business bank account?
How to open a UK business account for non-residents
When you have found the right business bank account, you need to apply. The process, eligibility requirements, and documents needed will vary slightly between providers, but generally you (and any key shareholders) are likely to be asked to provide:
- Proof of identity: A passport, UK driving licence or national ID card.
- Proof of address: Bank statements or utility bills.
- Company documents: Limited companies will need to share a certificate of incorporation, and any relevant licenses, while partnerships will need to supply a partnership agreement. Sole traders will need to share a tax return or self-employed registration.
- Proof of funds: You may be asked to provide information about where any opening balance comes from, which may include bank statements, invoices or loan agreements.
Applicants from outside the UK may need to have their documents translated into English and notarised.
If you have this information and documentation prepared, you should be ready to apply. You can apply online for some accounts. However, some providers may require you (and any other company directors) to travel to a UK branch to present documentation in person.
» MORE: How to open a business bank account
Can a non-resident start a business in the UK?
If you are a non-resident, you can start a business in the UK, and opening a business bank account can be an important step towards this.
If you are starting a limited company in the UK, you need to register with Companies House and have:
- A UK business address: This must be a physical address in the UK (not simply a PO Box) and it must be in the UK nation in which your limited company is registered. It must also be ‘appropriate’, meaning your business will be able to receive post at this address.
- A unique company name: Your business’s name must be unique and should not mimic or impinge on the trade mark of another company.
- A business bank account: You must have a business bank account to open and run a limited company.
If you want to operate as a sole trader in the UK as a non-resident, you need to register for self-assessment with HMRC.
» MORE: Should you be a sole trader or limited company?
Business bank account challenges for non-residents
It can be challenging for non-residents to get a business bank account because of:
- Limited choice: In part due to the FCA’s regulations, many UK banks will not provide you with an account if you are a non-resident. As such, you may struggle to find an account with all the features your business needs.
- Anti Money Laundering (AML) regulations: Entities regulated by the Financial Conduct Authority (FCA) must verify the identity of individuals and businesses. Part of this process is the Know Your Customer (KYC) and Know Your Business (KYB) checks on names, addresses and even income. These checks are in place to prevent financial crime and assess customers’ risk level.
- Travel: Non-residents may be required to travel to the UK to open a business bank account, which can be costly and time-consuming depending on where you live.
That said, with good organisation and understanding of your business’s needs, it is possible to find a UK business bank account as a non-UK resident.
» COMPARE: Best business bank accounts
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