Business bank account for non resident (Ukraine)

[svarli]

Guys,

 

I am resident of Ukraine. I am registered Limited company in UK. I do not have credit history in UK banks and I do not have residential address in UK...

 

During previous month I sent application forms for different banks (HSBC and Santander) but I am always received negative answer.

 

Any chance to share your experience/best practice in solving this problem?

 

Many thanks,

Maksym

[MARTIN3030]

Maksym,welcome to the site.

It can be very difficult for even UK citizens to get a business account.

But basically,they will be looking for much of the same things you need to be showing,that apply to all accounts.

There is a list of things that all banks will want evidence of,and it might be that you dont have some of these documents so far.

How long have you had the registered company ?

What is the line of business ?

Do you have residence here ?

Does your company have a trading address here or are you using the services of a hoster for your registered office ?

I have some friends who had the same problem and had to open a business account in Latvia which was not too difficult.

Once they got their business here with good trading results they later got a business account here.

 

By the way Congratulations to Ukraine for hosting a very good Euro 2012 competition.I think they exceeded everyones expectations and did a fine job.

[svarli]

Thanks for a response and Thanks for Congratulations to Ukraine!

 

1. How long have you had the registered company ? - Company registered one month ago.

2. What is the line of business ? - (This is start-up) We developed web based application which will help professional merchants to sell their items on different sales platforms (Amazon, eBay).

3. Do you have residence here ? - I do not have residence in UK.

4. Does your company have a trading address here or are you using the services of a hoster for your registered office ? - I have virtual office address. w1office dot com

 

Current main goal of bank account in UK - be able receive credit card payments via Paypal Website Payments Pro. This service not require merchant account. But require UK or USA or Canada bank account.

 

At this forum I found very interesting information about NatWest bank -> Business Foundation Current Account. Looks like it is the easiest option to create bank account, correct?

 

I am going to visit UK and try to create bank account in NatWest bank.

 

Please make me some advice regarding this questions.

 

Many thanks and Best Regards,

Maksym

[MARTIN3030]

Yes it is true that Nat West offers a business foundation account,as does Lloyds.

These were specifically designed to offer new start up businesses accounts that may have otherwise been difficult to get.

Many of these are referral based,this means perhaps the applicants have been on Government supported business courses or schemes and the business mentors (advisors ) for these have assisted.

So its like they have been able to jump only 2 fences instead of 4 if you understand.

I will try and find a list of what Natwest are likely to be wanting to see in the way of documents.

Under UK fraud crime and money laundering rules,a bank has to ask for documents that prove identity,and also address.

They also rely on information held by credit reference agencies which can be a problem if you have no history.

It has been said that having no credit history can be as bad as having one that has adverse entries.

More and more banks are offering accounts that specifically need online facilities and do not need any of the traditional banking facilities.

I will see if I can find anything that may be useful for you.

[svarli]

Many Thanks again.

 

Please keep me posted if you will find something.

 

Regards,

Maksym

[MARTIN3030]

There is the Ukrainian Business centre in London

 

http://ubcl.co.uk/

 

Then Ukranian Business City club

 

http://www.ubcc.co.uk/

 

 

Ukranian Chamber of Commerce and Industry

Although these are in Ukraine-they work with Chambers in other Countries including UK.

 

http://www.ucci.org.ua/en/about.html

[MARTIN3030]

Another friend of mine who does business in Ukraine also has an Alpari account.

 

http://www.alpari.co.uk/en/trading-accounts/required-documentation.html

[MARTIN3030]

Documents and information required vary from bank to bank. Generally to open a UK company bank account you would need:

 

• A copy of the client’s passport, which may need to be legalised in the country of origin, to confirm identity
  
• Verification of address (i.e. utility bill)
  
• 3 months personal bank statements
  
• Incorporation documents (Certified or Apostiled if outside of the UK)
  
• Nature of business and products/services sold
  
• An explanation of the company’s trading activities (suppliers/customers, payment methods, etc)
  
• An indication of the likely monthly trading activities on the account
  
• Projected monthly and annual turnover of the UK business and Global turnover
  
• An explanation of the source of funds and source of wealth of the ultimate beneficial owner(s)
  
• Type of service required from the bank
  
• Purpose of opening a business bank account in UK
  

[svarli]

Thank you, this all information is really very helpful for me.

 

I will let you know if I will have success with this.

 

I know that I have very small chances but I will try.

 

Best Regards,

Maksym

[MARTIN3030]

So some things for you to look at there.

It is generally accepted that it is much quicker to process an application by visiting the UK than doing from outside,

Where in Ukraine are you located just for interest ?

[svarli]

Dnipropetrovsk city.

 

I believe that future of Ukraine we can change by the way of creation honest business and using innovation IT technologies.

 

Many Thanks and Best Regards,

Maksym

[MARTIN3030]

Ah yes Dnipropetrovsk I have been there a few times.My wife has relations there.

I usually travel through Kiev and take bus or train to Krivvy Rog,but one time flight was late and so took bus to Dnipropetrovsk and took bus from outside train station.There was big market over road from there which had big fire.

Ukraine International do direct flight from there to/from London but they are expensive.I will be visiting soon in August.

[svarli]

I was born in a small city which located near Krivoy Rog. (Shyroke district center) But currently I am work and live in Dnipropetrovsk

[svarli]

Hello,

 

I am here in a London right now. I am here for businees needs to be able create bank account. Yesterday I visited NatWest branch - but no luck to talk with a businees manager face-to-face. Actually right now I am waiting for a call from NatWest bank regarding face-to-face meeting, but I am going under impression that they are forgot about me.

 

Could you please make advice what to do for me in this situation?

Go to another bank? If yes - which one? Barclays?

 

Thanks for help,

Maksym