Soon after incorporation you would need a UK LLP non-UK residents partners bank account to start trading or moving assets. Most of our clients who used our formation services use our UK LLP Bank Account introduction service, despite that many clients might have their own contacts with the banks.
Our practice is not to disclose the names of the banks prior to incorporation and full payment for the services ordered. We will introduce your LLP to several reputable banks based in the UK, if you decide to use our bank introduction services. We guarantee that you will be able to open a UK LLP Bank Account, providing you satisfy all the document requirements by the bank.
It is becoming increasingly difficult to open a UK LLP non-UK residents partners bank account due to very strict Money Laundering procedures introduced by the banks in the UK. This is particularly challenging if the process is done remotely, i.e. without physical presence. Therefore, we need to know our clients very well and do not offer bank introduction as a separate service (i.e. if you did not use our LLP formation).
We have created good working relationships with may many selected banks in the UK who are familiar with the offshore structures we set up for the clients and are proud of our success rate. Very occasionally, your bank application might be declined, but we will introduce your company to an additional two banks free of charge. If that is not successful, we will refund your fee paid for Bank Introduction Services with us. We cannot offer UK LLP guaranteed bank account as it is a bank’s decision.
It takes approximately between2-4weeks from the date we receive all your forms and supporting documents required by the bank for a UK LLP foreign partners bank account to be opened remotely. The process is significantly shorter if you can visit the bank in person, which we can arrange with pleasure in advance. Having a UK LLP foreign partners bank account adds to your image of UK business and helps to trade within the EU more tax efficiently.
Documents and information required varies from bank to bank and changes frequently.
To open bank account for UK LLP the banks generally ask for:
- A copy of the client’s passport (legalised in the country of origin, to confirm identity)
- Verification of address (i.e. utility bill) legalised in the country of origin
- 3 months personal bank statements legalised in the country of origin
- Incorporation documents (Certified or Apostiled if outside of the UK)
- Description of the nature of business and products/services to be sold
- An explanation of the company’s trading activities (suppliers/customers, payment methods, etc)
- Estimate 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 UK LLP bank account in the UK
We will assist you in completing the forms, provide necessary advice and follow your application through, however it is ultimately a bank’s decision to open a bank account for UK LLP. Our company has a high success rate to open UK LLP foreign partners bank account in the UK remotely.
Price for UK LLP Bank Account is GBP 400 / USD 660
