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UK Business Account for EU Nationals

One of the most popular problem Non-UK Resident face is how to open business bank accounts as a non-UK resident. Whilst it’s incredibly easy for to register a UK limited company from anywhere in the world, it is more difficult to set up a business bank account unless you live and work in the United Kingdom. However, there are a number of available options once your company has been incorporated.

There is no legal obligation for a limited company to have its own bank account, but it is better to have one. Business finances must be accurate and transparent, so a separate account will make it easier to keep track of your income, expenditure and available profits. This will be of great help when you are preparing annual accounts and tax returns each year.

There are no legal restrictions that prohibit non-UK residents from opening a business account. However, most banks will not accept applications from overseas due to fraud concerns and the additional administration costs.

We at Graham Sifflet Accountants, have good relationships with major banks in the UK and we can facilitate the process of setting up business bank account for Non-UK residents.