Business banking for overseas Directors

A short guide to business banking for company owners aboard

UK business account for overseas Director

Finding a business account for a company that is registered here in the UK, but Directors live abroad can be very difficult. Most high street banks and building societies will not accept applications from companies set up in this way.

 

The reason for this is that they are unable to credit reference outside of the UK and easily obtain documentation, therefore covering KYC (know your customer) required by compliance is very tricky.

Finding a business account provider for a Director who lives abroad

Although the options available to business owners living overseas looking for business banking are somewhat limited, there are UK based providers able to offer a solution. These providers will take a little longer to open the account, because due diligence checks have to be carried out manually. For example, to check your registered address the bank will send post overseas with instructions of how the Director (s) confirm receipt.

START YOUR APPLICATION

What to expect when applying for a business bank account with a Director domicile overseas

As touched on briefly, opening business banking with a Director abroad can take slightly longer than if they were based here in the UK. Therefore, packaging the application correctly is important to avoid unnecessary delays.

 

Prior to application, it is worth speaking with the bank directly to confirm they will accept applications from the country where the director is domicile. After confirmation, you’ll be expected to supply the following information and documentation;

 

  • ID
  • Proof of address – the bank will then write to you abroad with details of how to confirm your location, sometimes this will be a password confirmation or pin.
  • Business registration
  • Documentation to show business activity

 

Ordinarily the account will be approved within 2-3 weeks.

 

How Merchant Advice Service can help

Merchant Advice Service work closely with business banking providers to help companies with Directors based outside of the UK. Our team of experts can assist with opening new accounts, business finance and card processing.

Make a quick enquiry

Speak to us directly and get any questions you have answered. Submit your details and we’ll be in touch shortly.

Agree

Tick this box to allow Merchant Advice Service and partnering firms to contact you in relation to your enquiry and associated services. Note we do not use pre-ticked boxes or any other type of default consent. We may use the data on this form to to pass you onto an advisor who suits your specific needs. You may withdraw your consent at any given time.

We will keep record of your data and consent granted to us. Your consent will be reviewed on a five yearly basis to ensure that our relationship and the purpose of the data have not changed.

We act on requests to withdraw the information we hold on you as soon as we can.

For further information please refer to our full terms and conditions HERE.

Make a quick enquiry

Speak to us directly and get any questions you have answered. Submit your details and we’ll be in touch shortly.

Agree

Tick this box to allow Merchant Advice Service and partnering firms to contact you in relation to your enquiry and associated services. Note we do not use pre-ticked boxes or any other type of default consent. We may use the data on this form to to pass you onto an advisor who suits your specific needs. You may withdraw your consent at any given time.

We will keep record of your data and consent granted to us. Your consent will be reviewed on a five yearly basis to ensure that our relationship and the purpose of the data have not changed.

We act on requests to withdraw the information we hold on you as soon as we can.

For further information please refer to our full terms and conditions HERE.

By continuing to use the site, you agree to our use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close