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The UK laws are quite generous for business owners. This is the reason why entrepreneurs try to expand their business in the UK. Even though this topic is a much-discussed one, finding the right answer for some easy questions can be difficult. One such topic is the rules for UK company formation for non-residents with bank account.
Now, the first thing that needs to be addressed in this context is whether opening a bank account and registering a company is related or not. To put it simply, both are related but not entirely dependent on each other.
In other words, you can open a savings bank account in the UK without opening a company. As long as you have valid documents and pass the verification process, the bank account opening is not an issue. However, you will need a Nominee Director if you are not a UK resident.
As for the business bank account, you will have to register your company for that first. A business bank account is also possible for non-residents. But the approval takes a little time since the UK has a strict money laundering policy.
On the other hand, you can open a company in the UK even if you are a foreigner. This doesn’t even require a visit. And, you don’t need a UK bank account for that either. You can simply use a payment gateway for transaction purposes. However, having a business bank account associated with your UK company does have some benefits. So, it is better to go for UK company formation for non-residents with bank account.
If you are a non-resident and looking for UK company formation for non-residents with bank account, then you need a service provider like Activate Global Limited. What we do is take care of the UK company formation for non-residents with bank account on your behalf. Our representative submits your application and visits the bank of your choice in your stead.