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Formed company in UK as non-resident, having troubles to open a bank account

I have decided to form my start-up in UK, because it was less troublesome, cheaper and faster then the country I live in Europe. There were also lots of advertisements to start your business in UK.

However, I am facing difficulties to open a bank account in UK, because I am not-resident. I need to open an account in UK, not in my country, because payment processors like Paypal or Authorize.Net asks it.

What is the point of forming offshore company in this case? Do you have any experience or solution to this problem?

Thanks.

Answer 1251

It’s true that the UK is a great place to start a business. And at the moment it’s also true that opening business bank accounts in the UK is a slow process even for residents.

I would reach out to a formation agent with specific expertise in offshore companies. They will be able to guide you through the choices. You should also talk to your own bank. If they have operations or partnerships in the UK, that could make things simple.

Answer 1257

Try Barclays International, based in the Isle of Man. I believe they’ll allow you to open an account for a UK limited company with no UK-resident directors.

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