Can we Open a Business Bank Account for a non UK resident?

Case Study for opening a Business bank account for a non UK resident.

We had a start up business who operated as an online recruitment company that offered the functionality to upload video CV as a way of promoting themselves.

Both Employers and applicants can subscribe to the service. Employers are located in UAE, applicants will be mostly from UAE, Europe and India

Requirements:

UK business account with access to collect GBP payments via a sort-code & account number, along with facility to collect Euro & USD payments.

Turnover is expected to be in the region of £100,00 per annum

Account needs to work with PayPal and Stripe, as this is how they collect some of their payments.

KEY ISSUE: Applicant was unable to travel to the UK, so as a non UK resident, it was imperitive they were able to apply online.

Problem:

Opening a business bank account for a non UK resident can be a problem as the main high street banks do not have an appetite for anyone who lives outside of the UK.

So we needed to find a provider that would ne willing to accept a non UK resident and who would process their application using scanned documentation.

They also needed to be able to offer a Euro and USD facility so that they could accept these payments.

Solution:

We contacted one of our banking partners who was prepared to accept an applicant from the UAE providing they had valid photo identification documents and proof of their home address.

Proof of business was easy as they had a working website and the fact they had a verified PayPal account helped give confidence to the banking partner, which helped with the application.

Our business banking provider offered both Euor & USD facilities too, so was an ideal match.

Once we had been formally engaged, we were able to prepare the application and submit it directly to a senior representative, who reviewed the details and agreed to proceed.

Within 24 hours all the presented documentation and business eveidence was verified and the GPB account was opened.

No UK visit was required and the applicant was able to add his new UK business account details to their PayPal and Stripe accounts to collect their card payments.

Total time to open account form initial enquiry to account fully opened - 3 days.

For more information on how to open a business bank account for a non UK resident or to see if we can assist you, complete our form and we will get back to you with what current options are available.

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