Need Assistance Opening UK Bank Account or EMI for UK Ltd Company For Non-Resident Directors

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Dear Offshorecorptalk Members,



My business partner and I need some assistance opening up a UK bank account or equivalent for our financial services business. Our business is a LTD company with the shares being individually held by both my business partner and I who are also the directors of the company. Both directors are Australia citizens. We either need assistance with the following:



1. Setting up a bank account or EMI which has a sort code and account number and can receive domestic payments

2. Finding a local resident director with existing banking relationships who can help us in establishing a bank account with a high street bank



We are looking for a solution straight away so please get in contact to discuss.



Thanks
 
daniels27 said:






How much turnover? Maybe try WorldFirst, OFX, Airwallex?

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We are still pre-revenue due to being unable to open a bank account. Have tried all of the above options with no luck. UK accounts seem to be very difficult to open.
 
Technically you can have a GBP account offshore (for example Cyprus) but you will be limited to wire transfers (swift) only.
 
heavyhitter2020 said:






Our business is a LTD company with the shares being individually held by both my business partner and I who are also the directors of the company.

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What is the SIC code of your UK limited your using for financial services? Some codes like 64999 is kiss of death. You may need to use a more subtle code.
 
We may be able to assist you in opening an account with a Spanish high street bank, offering multi-currency options including EUR, GBP, and other major currencies, within a relatively short timeframe. To proceed, we would need a clearer understanding of your business operations.

Best regards.
 
meze99 said:






Technically you can have a GBP account offshore (for example Cyprus) but you will be limited to wire transfers (swift) only.

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We need a domestic account with sort code and account number so that customers can make local payments.
 
Martin Everson said:






What is the SIC code of your UK limited your using for financial services? Some codes like 64999 is kiss of death. You may need to use a more subtle code.

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Could you please tell me more or even make a seperate thread about SIC codes, their risk profile in the perspective of banksand the implications for opening a bank account with EMIs/UK Banks?
 
Mister M said:






Could you please tell me more or even make a seperate thread about SIC codes, their risk profile in the perspective of banksand the implications for opening a bank account with EMIs/UK Banks?

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Would love to but there is only 24hrs in a day and I am no specialist in that area. Basically use as generic a SIC code as you can get away with no matter what your activity. Don't use one that requires you to be FCA regulated unless you are.
 
Martin Everson said:






Would love to but there is only 24hrs in a day and I am no specialist in that area. Basically use as generic a SIC code as you can get away with no matter what your activity. Don't use one that requires you to be FCA regulated unless you are.

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je joke of the day, the SIC is a declaration, if at the end your activity falls into regulated perimeter , you must be regulated, bassicaly touching 3rd parties funds is falling under
 
fredouille1973 said:






je joke of the day, the SIC is a declaration, if at the end your activity falls into regulated perimeter , you must be regulated, bassicaly touching 3rd parties funds is falling under

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Yes, but then at least OP has a bank account.
 
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