Anyone know where I can open a business bank account in europe for a Uk ltd? Business is import and export, everything is legit and taxes are paid without issues. No shady business or anything sketchy. Owner is US Citizen and resident.
Bank account for UK Ltd?
- Thread starter Yrybak08
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Try with Revolut, Wise, Currenxie and what else they are, if your company is fully incorporated you have hundreds of EMI's available.
Well, I personally would not recommend neither Revolut nor Wise (but Currenxie yes); yet the crucial question is:
What should be the purpose of this European account? Is there a need for SEPA payments, or for some particular European IBAN, or for an account in certain jurisdiction, or... ?
The proper advice heavily depends on that.
All true ”“ yet see above...
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
I have clients in europe and need to be paid locally via SEPA. Also, when I purchase merchandise from art galleries, it's easier and faster to pay them from a European account rather than from a U.S. account where wires take forever. I can also use my Amex but then there would be humongous fees. It's just easier to feed the European account from my U.S. account and be ready to make purchases whenever I find a good buying opportunity
Yes, all this is fully understandable. It means, you just need a bank account capable of SEPA (to accept payments from European clients and to pay for the merch you purchase) and capable to accept payments from your U.S. account.
Hence
1) With what bank you have a US account? Some US banks, especially big ones, offer SEPA payments to their clients as well and especially if you have some US business, too, they can onboard you, probably.
2) I presume that the owner is also the director of UK Ltd, correct? Then many of UK financial institutions (which offer SEPA in most cases) will not be much eager to onboard you (with a non-resident director), it's true. Yet e.g. Wamo and Interpolitan Money are worth checking.
3) As having European business, you will have reasonable chances with European EMIs; yet you must go for a such that offer SWIFT as well (to feed your account from the US). E.g. Zen or Paysera can be a good bet. You can also try Paywiser, looks fine.
4) From non-european EMIs, Currenxie is well recommendable; I am only not sure whether they are able to offer SEPA to UK companies (to EU ones they are not) ”“ but simply ask them 🙂
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
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