Open a limited Co bank account?

Open a limited Co bank account?

Didn't find your answer?

A potential client will set up a limited company in UK.  I was asked if they could open a Company bank account. Their main residential address will be in US. Can they open a bank account here.

Thanks

Replies (2)

Please login or register to join the discussion.

avatar
By Athos Louca
10th Sep 2010 07:52

Bank Account for non resident company

I have clients which have similiar arrangements so this is possible.  The biggest problem will be the verification process.  You will find that the bank are likely to want notarised verification details for the directors if they are unable to go into the UK bank in person.  I had one instance where a client was resident in the US  but a director of a UK company and RBS suggested that he could visit a branch in the US but unfortunately it was in a different state !

In my experience the process can take sometime but is possible.

Thanks (0)
avatar
By cydsmith
10th Sep 2010 10:27

Definitely takes time and patience

I've had a similar situation. US based (originally UK resident) director of both a US and UK company who both banked withe same bank - HSBC. The bank would only accept original notarised copies of anything for the UK account so information Fedexed backwards and forwards and it took quite a while to sort out. The bank would not agree to him presenting his information for verification at a US branch - which he had already done anyway for the US account! The biggest problem was lending. Because he was not UK resident the bank would not accept any personal guarantees or security, even getting a business credit card was a problem.

Thanks (0)