Need Assistance Opening UK Bank Account or EMI for UK Ltd Company For Non-Resident Directors

[heavyhitter2020]

Dear Offshorecorptalk Members,

My business partner and I need some assistance opening up a UK bank account or equivalent for our financial services business. Our business is a LTD company with the shares being individually held by both my business partner and I who are also the directors of the company. Both directors are Australia citizens. We either need assistance with the following:

1. Setting up a bank account or EMI which has a sort code and account number and can receive domestic payments
2. Finding a local resident director with existing banking relationships who can help us in establishing a bank account with a high street bank

We are looking for a solution straight away so please get in contact to discuss.

Thanks

 

[daniels27]

What is a financial services business? Do you hold all licences for that?

 

[heavyhitter2020]

The business is classified as 'non FCA' regulated

 

[daniels27]

How much turnover? Maybe try WorldFirst, OFX, Airwallex?

 

[heavyhitter2020]

We are‌ still pre-revenue due to being unable to open a bank account. Have tried all of‍ the above options with no luck. UK accounts seem to be very difficult to open.⁠

 

[CyprusLawyer101]

We should be abld to help with an account for a UK company in Cyprus,‌ provided the operation is solid.

 

[heavyhitter2020]

Will it have a sort-code‍ with account number?

 

[alley]

Wise provides UK account numbers.

 

[CyprusLawyer101]

Sure,

 

[meze99]

Technically you can have a GBP account offshore (for example Cyprus) but you will be‌ limited to wire transfers (swift) only.

 

[Martin Everson]

What is the SIC code of your UK limited your using for financial‍ services? Some codes like 64999 is kiss of death. You may need to use a⁠ more subtle code.

 

[CALAY]

We may be able to assist you in opening an account with a Spanish high‌ street bank, offering multi-currency options including EUR, GBP, and other major currencies, within a relatively‍ short timeframe. To proceed, we would need a clearer understanding of your business operations.
Best regards.

 

[heavyhitter2020]

64922

 

[heavyhitter2020]

We need a domestic‍ account with sort code and account number so that customers can make local payments.

 

[SCHLOSSFINANZ]

Myguava.com

 

[Martin Everson]

64922 Activities of mortgage finance companies

That is a‌ death code. That code is generally used for FCA regulated activities. Your either using the‍ wrong code or you need to get registered below.

https://www.fca.org.uk/firms/authorisation/mortgage-brokers

 

[Mister M]

Could you please tell me more or even⁠ make a seperate thread about SIC codes, their risk profile in the perspective of banksand⁤ the implications for opening a bank account with EMIs/UK Banks?

 

[Houdini]

very good, never thought about⁠ it to be a problem.

 

[fredouille1973]

you should‌ detail here, financial services are always regulated

I have solution with sort code, EUR/GBP IBAN‍

 

[gordongekko3]

Use Wise or Airwallex