Europe · Ltd
Open a business bank account in United Kingdom
Banking, not incorporation, is the hard part of running a UK company from abroad. Forming the Ltd is fast and remote; getting it a usable account is where non-residents hit friction. UK high-street banks were built around in-branch identity checks and overwhelmingly expect a director who is UK-resident and can visit a branch, so a fully foreign-owned, foreign-directed company is usually declined or stalled. The practical, well-trodden route is a fintech/EMI (electronic money institution) account, which onboards remotely against your Companies House number.
- Country
- United Kingdom
- Topic
- Open a bank account
- Reviewed
- June 2026
By the Lanzamo Editorial Team · Reviewed June 2026 · How we research
Traditional banks
Barclays
Major high-street bank; will consider business accounts but in practice expects a UK-resident director and an in-branch or UK-based verification — tough for a purely non-resident company.
HSBC UK
Globally oriented and occasionally workable if you already bank with HSBC in another country, but standard UK business onboarding still leans on UK residency and a branch relationship.
Lloyds Bank
Common SME bank; onboarding generally assumes a UK-resident director and UK address with face-to-face verification — rarely a fast remote option for non-residents.
Fintech & EMI options (built for remote)
Wise Business
Onboards UK-registered companies with non-UK directors remotely; gives UK sort code/account number plus multi-currency local details — the default choice for cross-border founders.
Airwallex
Multi-currency business accounts with UK and global collection details; accepts cross-border companies registered at Companies House, fully remote KYC.
Tide
UK business account that onboards from your Companies House registration; you must be a director of an active UK company, and acceptance of non-UK-resident directors varies by profile.
Revolut Business
Accepts companies registered in the EEA, Switzerland, Australia or the US and directors from many countries — but historically wants a director resident in the UK/EEA/Switzerland, so check eligibility for your nationality first.
What you'll usually need
- Certificate of Incorporation and Companies House company number
- Proof of director/owner identity (passport) — already verified for Companies House since Nov 2025
- Proof of residential address for directors and PSCs (utility bill or bank statement)
- Description of the business, expected turnover and source of funds (for KYC/AML)
- UK registered office address on file (your formation agent's service address is fine)
- Details of beneficial owners holding more than 25% (your PSC information)
Tips to get approved
- Apply to a fintech/EMI (Wise, Airwallex, Tide) first — don't burn weeks on a high-street bank that will likely require a branch visit.
- Keep your Companies House record perfectly clean and current; EMIs auto-check it and mismatches cause instant rejections.
- Open at least two EMI accounts for redundancy — fintech accounts can be frozen or closed during reviews with little notice.
- Have a clear, honest source-of-funds story and realistic turnover figures; vague or inflated answers are the top KYC rejection trigger.
- Match your stated SIC code/business activity to what you actually do — high-risk-looking activities (crypto, gambling, adult) get declined.
Frequently asked questions
Can I open a UK business bank account without visiting the UK?
Yes, through a fintech/EMI such as Wise, Airwallex or Tide, which complete KYC remotely against your Companies House number. Traditional high-street banks (Barclays, HSBC, Lloyds) generally still expect a UK-resident director and in-branch verification, so they are not a reliable remote option.
Is an EMI account a 'real' bank account?
Functionally yes for most needs — you get a UK sort code and account number, can send and receive GBP and other currencies, and pay suppliers and HMRC. The legal difference is that EMIs are not banks: your money is safeguarded rather than FSCS-protected, and they don't offer overdrafts or lending. For an early-stage company that's usually fine.
Why do banks make this so hard for foreign founders?
UK anti-money-laundering rules push banks to verify a genuine UK nexus and the people behind a company. A fully foreign-owned, foreign-directed Ltd with no UK footprint reads as higher risk, so high-street banks default to caution and in-person checks. Fintechs accept more of this risk with stronger automated KYC, which is why they're the practical route.
Does Revolut Business work for non-residents?
Sometimes. Revolut accepts companies registered in the EEA, Switzerland, Australia or the US and directors from many countries, but it has historically preferred a director resident in the UK/EEA/Switzerland. Check the current eligibility list for your nationality and residence before relying on it; Wise and Airwallex tend to be more universally available.
Sources
- Companies House — fees are changing from 1 February 2026 (GOV.UK)
- GOV.UK — Register a private or public company (IN01)
- GOV.UK — Corporation Tax rates and reliefs
- GOV.UK — Register for VAT (and non-established businesses)
- HMRC International Manual INTM120170 — company residence: individual directors
- PwC Tax Summaries — UK corporate income tax (19%/25%)
- PwC Tax Summaries — UK withholding taxes (no WHT on dividends)
- Deloitte Taxscape — UK tax rates 2026/27
- ICAEW — significant hikes to Companies House fees in 2026
More on United Kingdom
Comparing United Kingdom with other countries?
See United Kingdom next to 12 other startup-friendly jurisdictions — fee, tax, capital and the resident-director catch — in one table.
The founder’s starting-a-US-company checklist
Get the free step-by-step checklist plus the occasional plain-English guide on formation, taxes, banking, and staying compliant. No spam, no hype. Unsubscribe anytime.