UK Non-Resident Personal Bank Account (for Paraguay Resident)

[Tax Cow]

Hello,

I'm looking for a local UK GBP account to execute BACS/CHAPS/FASTER payments (any of 3). Account has to be in account holder's name.

1. Paraguay resident. I have immovable property in Paraguay
2. Source of funds documented
3. Purpose of an account is to invest in the UK as a non-resident

I looked at Isle of Man and Jersey banks, but they are primarily looking to act as the end-destination and root their clients in wealth management services. Some of them offer "transactional" accounts, but according to my friends who used them, such accounts are offered as bait. When the account is opened, an account manager will start to call every month to "discuss further opportunities" until you subscribe to some trashy fund. Prefer to stay away and open an account in the mainland UK 🙂

Regards,

 

[fshore]

No problems with standard bank Isle of man, they never tried to upsell anything. Outgoing transfers are £15.
Requires 4k min deposit.

 

[daxbr]

The problem I run into is they ask for passport and disregard physical residency for tax purposes. In several instances they looked at, made paper copy, pretended they entered it but only upon hard questioning they admitted they have no assigned space to enter residency info.

 

[Silvio]

daxbr said:
The problem I run into is they ask for passport and disregard physical residency for tax purposes. In several instances they looked at, made paper copy, pretended they entered it but only upon hard questioning they admitted they have no assigned space to enter residency info.
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What do you mean they have no assigned place to enter residency info? I find it hard to believe that they don't ask you for your TIN when you open the account, or completely disregard the TIN you give them