Business Bank Accounts

In the UK, it is not mandatory for company owners to open a business account, but opening one can help you separate your own money from the company's finances, making it easier when filing your yearly accounts. After you form your company with us and you receive your documents, you can approach your preferred bank to open a business account and the bank will call you, normally within 3 working days to arrange the opening of your account.

Non-resident Company Owners

However, if you are not resident in the UK, it may be difficult for you to open a business bank account because most banks are unwilling to open business bank accounts for non-resident individuals or companies. If a client's turnover expectations exceed £2.5million then they do not have to be a UK resident director to open an account. However, if the projected turnover is under this amount the bank will require a UK resident director.

Barclays offers international services for businesses which allow you to open a bank account as a non-resident and use it to hold income and pay for business expenses but will ask for a minimum opening balance of £25,000 (or equivalent).

You may also use one of the following ways to obtain a bank account for your business:

Opening a business bank account in your own country

Many non-resident company owners open business bank accounts for their UK companies in their own countries. This will require you to get your Certificate of Incorporation, Share Certificates, Memorandum & Articles apostilled. We will help you get your documents apostilled or legalised.

Opening an account with 3S Money

Business Bank Accounts

Focusing on international trade, 3S Money is creating a new standard for cross-border business banking. Corporate clients can collect, send and exchange bank transfers in 190+ countries.

3S Money offers convenience for large transfers. You can send and receive high-value business payments around the world faster and more securely.

Read more on 3S Money

What 3S Money offers:

  • 3S accepts directors and shareholders from 190+ countries
  • You get a UK account number and sort code for your business
  • 3S offers an online Global Business Account linked to local IBANs in the Netherlands, UK and US.
  • Offers 35+ currencies including USD, GBP, EUR
  • No chatbots. no automated messages - each client gets a dedicated client manager who is available 24/7

Opening a Wise UK business account

You may, however, consider opening a Wise business account. The Wise business account is an ideal banking solution for non-residents that will allow you to send, spend, and receive multiple currencies using the real exchange rate. You will open a business bank account without a UK local address, without visiting a branch and you will be able to operate using your own UK bank details - just like a UK resident. The account comes with a UK account number and sort code, Eurozone IBAN, and US account and routing number, regardless of where you are in the world. There is a one-off fee to apply for the bank account, ranging from £16 - £21.