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UK bank account for non UK citizens

Discussion in 'Business & Tax Advice' started by punkstar69, Oct 14, 2015.

  1. punkstar69

    punkstar69 Junior Member

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    We own a UK company along with a UK VAT no and UK reg no.
    We have tried opening up a bank account remotely, without flying to the UK, via Barclays & HSBC.
    Both applications failed. Every bank want us to walk into the bank for verification purposes.
    We tried to convince them to have us verified by visiting the local branch of the bank, but they denied it.

    Anyone got success in opening a UK business bank account without visiting UK ?
    My concern is all about visiting a branch in the UK and even after this, getting denied by the bank.

    Note that everything runs "whitehatly" in our company, but still, there is 80% chance of getting denied due to country of residence (even if we are EU citizens).
     
  2. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Just get on the plane, the ticket cost from your location and back is like $300. If the UK account isn't saving you multiples of that, why bother having it anyway?
     
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  3. punkstar69

    punkstar69 Junior Member

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    Thanks for your reply.
    As i mentioned above, i have no problem to flight there, but even if i fly there and walk in the bank personally, there is a chance of 80% to get denied by the bank due to the fact that im not a UK citizen (although im an EU one).
    Guys from the bank assured me about this, so i guess that also other members would have faced the same issue and possibly might have found an alternative way they could share here. Thats the purpose of my question.
     
  4. Duffers5000

    Duffers5000 Elite Member

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    They want you to walk in and meet them because of money laundering regulations.

    If you are VAT registered then I'm sure you must have an accountant ? I don't know any UK accountant that can't arrange a straight forward meet up and organise a business deposit account once they have referred you.
     
  5. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    From my experience the HSBC turns no one down, not even heroin addicts that don't even have a pair of socks to their name.
     
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  6. 67MAD54

    67MAD54 Regular Member

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    I know a heroin addict that has his own pair of socks and will open one for you if you add him to the board of directors :)
     
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  7. snoopdogg1

    snoopdogg1 Junior Member

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    Can I suggest Santander Bank for business banking in the UK, my choice anyway but I live in the UK... also why don't you get a UK address? just Google "uk virtual address for business"
     
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  8. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    Think his problem is not an address, but the fact that you actually have to present your documents in person at the bank, to open an account.
     
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  9. Duffers5000

    Duffers5000 Elite Member

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    Must have used the accountant or company formations office or virtual office to register a UK company in the first place so he is okay for a trading address.


     
  10. bilbo

    bilbo Power Member

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    Thats nonsense. Get a UK accountant to set it all up. Arrange a meeting etc. there is no way a guy from the bank told you "theres a 80% chance to get denied by a bank". As long as you have the correct documentation its a done deal.

    Cant even begin to fathom why you are VAT registered and tax setup in the UK if your not in the country
     
  11. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Regardless of what the OP wants to do, countries like UK and US are great offshore destinations for non-residents, as they provide a ton of benefits to them to attract capital.
     
  12. punkstar69

    punkstar69 Junior Member

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    Exactly. The problem is that they do not like non UK citizens, even if they have the whole paperships. We aint gonna add a junkie or everyone else as a director guys just to get this. UK law is not forcing you to have a UK business bank account, you can skip this, so my question is all about generic purposes - thanks for the junkies' suggestions :)

    Well we got a business registered address. Accounting is being done by one of our team members, since accounting is a really easy job when it comes to HMRC.
    We ARE VAT registered in our EU citizenship country, but thats outside of the scope of the topic.
    A UK company is not considered offshore since its an EU member, but yes, gives great benefits compared to our country ones.

    I would appreciate a reply from someone that already had done it and succeeded.
    You know, i cannot fly to the UK, walk into an HSBC bank, apply and then get denied because someone just replied that HSBC is not turning down people that are non UK citizens. I personally spoke to my bank assistant in the local branch of HSBC and they told me that this is not true, so its not an option.

    BTW, why is your mind running around "phantom" actions? The fact that a EU business opens up a company bank account in another EU member state that is already registered there too, has nothing to do with money laundering, blackhat actions, etc.
    Things in EU have been very serious regarding taxation in the latest years. Its not really easy to money launder and risks are high. You are not facing the law for your company's profile but also as a person too, so its also non an option, when it comes to serious business.
    Yeah, an experienced accountant will for sure know ways - and will everytime - to hide incomes from taxation, but i dont find a way to avoid paying your taxes if taxation is fair.
     
    Last edited: Oct 15, 2015
  13. punkstar69

    punkstar69 Junior Member

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    Someone into that yet or done it in the past?
     
  14. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    As mentioned here already, find someone in the UK that can help you with the account opening in the UK, it's not a problem, and if you are a citizen in the EU there is defiantly not a problem if you have your papers available.
     
  15. punkstar69

    punkstar69 Junior Member

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    Got some pms by people that try to scam (10> posts etc) hehe.
    I was wondering if a company or a trustworthy person from here, takes up such services, thats why i bumped the thread.
     
  16. Lordnothing

    Lordnothing Newbie

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    You didn´t tell in your post if you are doing business in the UK. For opening an UK bank account as NON resident you have to conduct business in the country and have to prove that by showing invoices etc.

    If you don´t do any business in the UK you can NOT open a bank account there as non resident.
     
  17. selo

    selo Junior Member

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    Try Monese - they are new and they let you open UK bank accounts remotely. Not sure about having it being a corporate account... it would probably be a normal checking one.
     
  18. towelfox

    towelfox Junior Member

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    Why don't you pick up the phone and call the banks? Just ask to speak with a corporate account manager. If it's worth doing business with you then they'll bend over backwards to help.
     
  19. punkstar69

    punkstar69 Junior Member

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    Hey guys, thanks for the responses.

    At this time, only LeuPay seems the way for us, but LeuPay (iPay before) uses Luxembourg bank account.
    I've called several banks. Things are pretty clear for them: Since director of the business is not a UK citizen, there is no credit history for him in the UK, so bank application of the corporate account will be denied.
     
  20. lukelo12

    lukelo12 BANNED BANNED

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    It means conversation has been finished before my comment :p and you people have just missed a great piece of advice from my side. :cool: