Published on : 17 March 20202 min reading time
Before opening a business bank account in England, you need to set up your Limited in London (or elsewhere in the UK). The creation of your company is simple and quick. It takes about 3 hours to create it and you don’t have to sign any document. You can create it by not being physically present in the UK.
To create a Limited, you need :
- A director
- A shareholder
- An address in GB
- A minimum capital of £1
Once the company is open, you can open your business bank account. Visit www.bank4pro.co.uk if you want to know how to choose a bank online.
You are an English tax resident
As a UK resident, you can open your bank account at any bank.
The main “High Street” banks in the UK are the following:
- HSBC
- Barclays
- Natwest
- Santander
- Metro
- Lloyds
- RBS
These are reliable and reputable financial institutions that will provide you with online access as well as a bank card and a cheque book.
It can take from a few days to a month to get online access.
You are not a tax resident in England
In this case, your choice is shrinking like a skin of sorrow. Very few banks will open a bank account for you. The vast majority will refuse you if you cannot provide proof of residence in London (or the UK).
We have been working for years and have tried all these banks. We can help you to open the account even if you are not resident in the UK. We will accompany you to the bank and provide translation if necessary.
Opening bank accounts online
-Tide / Small Business Mobile Banking 19
If you are unable to open an account with an online bank, you still have online banking. Online accounts are easy to open. However, you will not be able to cash cheques.
Documents to be provided for opening a business bank account in London:
- Passport or C.N.I.
- 2 cards of proof of residence: EDF and/or Water and/or Gas bill or bank statement less than 3 months old.