Lawyer
An expert in corporate and international corporate law. He has many years of experience in establishing and reorganizing companies, supporting M&A transactions, as well as providing legal support for opening and running a business in the EU, Asia, and North America.
OPENING A BANK ACCOUNT IN GREAT BRITAIN
Types of bank accounts for businesses in the UK
- Current Accounts are the most common option for daily transactions.
Features:
- Ability to receive debit/credit cards.
- Access to online banking (e.g. Barclays Online Banking).
- Support for payments via BACS (direct deposits) and CHAPS (instant transfers).
Examples of banks:
- High Street Banks: HSBC, Lloyds, NatWest.
- Digital banks: Revolut, Monzo (limited features for businesses).
- Savings Accounts – for temporarily free funds with higher rates.
Requirements: minimum deposit (e.g. £10,000 at Santander).
Limitations: limited number of withdrawals/transfers.
- Merchant Accounts – for e-commerce and card companies.
Features:
- Integration with platforms (Shopify, WooCommerce).
- Transaction fees (1-3% of the amount).
- Multi-Currency Accounts – for businesses with international operations.
Features:
- Holding funds in GBP, USD, EUR.
- Issuance of cards in different currencies (for example, Wise Business Account).
Account opening requirements
Company documents
For UK-registered businesses:
- Certificate of Incorporation (certificate of registration).
- Memorandum and Articles of Association (charter).
- Companies House Registration (data from the company register).
For foreign companies:
- Apostilled Articles of Association (legalized documents).
- Certificate of Good Standing (certificate of solvency).
Proof of identity and address
For directors/owners:
- Passport (copy + original for identification).
- Utility bill or bank statement with a UK address (not older than 3 months).
For companies:
- Proof of business address (e.g., office rental through Registered Office Service).
- Business plan and financial history
The business plan should include a description of the activities, target market analysis and revenue forecast. For startups, information on investment rounds and confirmed contracts with clients is mandatory.
Financial reporting requires: for existing companies – audit reports for the last 2-3 years; for newly created companies – detailed cash flow forecasts.
AML (Anti-Money Laundering) Requirements
KYC (Know Your Customer): It is necessary to provide a documentary explanation of the origin of funds (e.g. investments, sale of assets) and complete a declaration of beneficial owners (PSC Register).
The account opening process consists of the following steps:
- Choosing a bank — main criteria: rates, online availability, rating (e.g. Trustpilot). For non-residents: Barclays Eagle Labs (for startups), Clydesdale Bank (flexible policy for foreign companies).
- Preparation of documents — all originals + copies with translation into English (by a certified translator) + Apostille (for non-European countries under the Hague Convention).
- You can submit an application online — through bank websites (for example, HSBC Business Banking), as well as in person: by visiting a branch (for complex structures).
- Document review takes about 2–8 weeks — additional requests are also possible: auditor’s letters, explanations of past transactions.
- Account activation — registration with HMRC to obtain a UTR (Tax Number). Filing reports: CT600 (Corporate Tax), VAT Returns (if annual turnover > £85,000).
At the same time, non-residents face significant difficulties in opening an account in a British bank.
Increased KYC requirements require detailed tracking of transactions, which can be solved using services such as Sanction Scanner to verify customers and provide additional guarantees (for example, a deposit).
The lack of a UK address is compensated by renting a virtual office through Regus or appointing a local director (Nominee Director).
These steps will help overcome barriers and ensure compliance with regulatory requirements.
Calculate the cost of services
1 question
Are you currently in Ukraine?
2 question
Are you currently in the UK?
3 question
Do you need advice on opening an account for an individual?
4 question
Do you need advice on opening an account for a legal entity?
5 question
Do you need an urgent consultation?
You may also need:
BANK REGISTRATION IN CYPRUS
Read moreCompany Registration in the UAE
Read moreBrand name registration
Read moreREGISTRATION OF A BUSINESS (FIRM) IN THE CZECH REPUBLIC
Read moreOpening a crypto-friendly account
Read moreOpening an account in a foreign bank
Read moreOPENING A BANK ACCOUNT FOR A GAMBLING BUSINESS
Read moreREGISTRATION OF A BUSINESS (FIRM) IN POLAND
Read moreCompany Registration in Austria
Read moreOPENING A BANK ACCOUNT IN AUSTRIA
Read moreOPENING A BANK ACCOUNT IN GREAT BRITAIN
Read moreOPENING A BANK ACCOUNT IN ESTONIA
Read morecall back
during the day
Compensation for moral, material damage
Protection of honour, dignity, and business reputationContract Development for Business and Legal Entities
Licensing of business activities
Compensation for moral, material damage
Legal services in the field of cryptocurrency and blockchain
REGISTRATION OF COMPANIES AND OPENING OF BANK ACCOUNTS
Sale and purchase of ready-made firms
Grants and attracting investment
Business registration and support in Great Britain
Business registration and support in Switzerland
Business registration and support in the EU
Business Registration and Support in the Gulf Countries (GCC)
Business registration and support in Turkey
Business registration and support in USA
Lawyer for administrative cases
Legal services for medical businesses and doctors
Protection of honour, dignity, and business reputation
Real estate transaction support
Escort of the tender participant
Trial lawyer: support and defense in court
European Court of Human Rights (ECHR)

