Business Bank Account Requirements Uk
Our business bank accounts are designed to simplify everyday banking and make managing your money easier even from home.
Business bank account requirements uk. Uk residency isn t legally required to open a business bank account. Best business bank accounts in the uk. Uk finance has teamed up with uk banking providers to pull together some guidelines on what you need before you apply for a business bank account.
If you ve recently started trading or you re switching from one business bank account to another many providers offer a sweetener in the form of free business banking for a limited period. Plus our business banking experts are on hand to help. Banks however are wary about working with non residents because of the extra administration and possible exposure to fraud.
Uk business bank account providers require a basic set of information to set up your business current account. For more information on opening a business account in the uk from abroad you can contact the government s invest in great britain northern ireland hub. If you want to open a business account there is a range of business bank accounts to choose from.
Find out what you ll need to provide using this simple guide from uk finance the uk s leading trade association for financial services. You can see the full list of requirements using the simple business banking checklist from uk finance the uk s leading trade association for financial services. To be eligible for cooperative bank s business banking account all key parties must be 18 or over be a uk resident with a uk address.
Business account options for non uk residents. Here we ve rounded up the leading business bank accounts for sole traders and limited companies with no minimum annual turnover requirements. We ve worked with other providers of uk business banking accounts to agree a basic set of information that we ll need from you to set up your business current account.
These rules only apply to existing businesses that have a turnover of less than 6 5 million have a clearly defined ownership structure and all of the business owners operate in the uk. All key parties must be free from ccjs bankruptcy ivas and missed personal payments over the last 6 years. Most of them are free for the first 18 months and include perks such as a dedicated relationship manager to help you build your business and a knowledge centre with training articles and videos.