Bank Accounts for Non-UK residents

UK Bank

Some non-Uk residents will have difficulties opening bank accounts with traditional high street banks. The requirements to verify the identities of applicants to prevent fraud and money laundering is time-consuming and onerous, and the major banks prefer to reject this type of business. There is, however, an ever-growing group of online only banks. These banks are more efficient at processing and verifying applicants ID and will open accounts for non-UK residents. The new group of online banks will usually open accounts for UK companies owned by European residents. Residents of most European countries are considered to be relatively easy to verify with the existence of sufficiently reliable data. When, as a non-UK resident, you apply to form a company on our website, you may be offered bank account or merchant account options. Whether you are offered the opportunity depends on whether your country of residence and business activity matches the selection criteria of our affiliates.

Operating without a bank account

Companies are not legally required to have a bank account. Some companies are only formed to hold or protect assets and may not need a bank account.

Alternative options

A UK company does not legally require a bank account to be supplied by a UK bank. As a Non-UK resident, you may find that your own bank or another international bank located outside the UK may be prepared to offer banking facilities to your UK company.


There are several companies and banking consultancies that offer to open bank accounts for non-UK residents. Use caution when dealing with these companies. They charge hefty fees and cannot guarantee success.

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We are rated Excellent in our service

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Rated 4.7 out of 5.0 by our customers

Been with Smart Formation for approx. 3.5 years, it was a seamless service. No longer require their service as I have dissolved my business but would definitely use them again and recommend their services to others. (1 March 2024)

Chill with me

Quick, efficient and affordable. Customer service was very attentive and helpful, quick to answer any questions. Thank you! (12 February 2024)

Mrs Arias

It was a very good experience dealing with the Smart Formation team. They help throughout the process very well. (23 January 2024)

Mr. Waqar Zaman

Abbie O’Neill, has been amazing and very efficient setting up my LTD company. Excellent customer service. (30 January 2024)


Not a first time client . Once again they did it perfectly (7 Jun 2022)

Mr Mirco Riccardo Romito

Rated 5 out of 5 stars

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