Nikita Veremeev
30.11.2025 | 6 min read
Updated: 30.11.2025
In 2025, more than 60% of international companies operating in Europe and Asia choose the United Kingdom to open corporate accounts: despite tightening banking procedures and increasing requirements for transaction transparency. Why is business eager to enter the British banking system? The answer lies not only in the prestige of the jurisdiction but also in strategic advantages: access to global markets, tax burden optimization, asset protection and investor confidence. On the other hand, the path to opening a bank account in the UK for a non-resident has become a real challenge: from complex AML procedures to ambiguous requirements for proving address and sources of income.
At COREDO we encounter daily requests from entrepreneurs, financial directors and company owners who are looking for reliable solutions to open a bank account in the United Kingdom as a non-resident. The main pains: risk of rejection, prolonged checks, lack of transparency, unpredictable fees and the need to comply with strict KYC/AML standards.
How to go through this process quickly, safely and with maximum benefit for the business? In this article I share a practical guide based on COREDO’s experience and recent industry data so that you receive not only answers to key questions but also strategic tools for long-term success. Read the article to the end – here you will find a step-by-step guide, analytical recommendations and real case studies that will help a non-resident open an account in the UK and minimize risks.
Main types of bank accounts for non-residents in the UK
Choosing the account type: a strategic decision that defines a business’s capabilities in the United Kingdom. In practice, COREDO has shown that the optimal option depends on the company’s goals, the structure of operations, and requirements for currency flows.
Personal or corporate account: pros and cons
- A personal account at a British bank for a foreigner is suitable for sole proprietors, investors, and expats. Pros: ease of opening, minimal document requirements, quick access to online banking. Cons — limits on transactions, inability to conduct corporate transactions, and risk of account freezes if business activities are suspected.
- A corporate account in the UK for a non-resident is a tool for companies, branches, and holdings. Pros: expanded capabilities for managing funds, multi-currency operations, access to international payment systems, integration with accounting. Cons: stricter document requirements, comprehensive checks of beneficiaries and sources of income, and a lengthy approval process.
Types of accounts: multi-currency, investment, basic
- A multi-currency account allows working with GBP, EUR, USD and other currencies, reducing currency risk and optimizing international settlements.
- An investment account is used for operations with securities, real estate, and corporate bonds.
- A basic bank account for non-residents: a solution for startups and small companies that need minimal functionality without complex requirements.
The solution developed by COREDO always begins with an analysis of the client’s business model, an assessment of transactional activity, and the selection of the optimal account type for business in the UK, taking into account account-opening conditions for foreigners.
UK Banks’ Requirements for Non-Residents
British banks are among the strictest in Europe when it comes to assessing a customer’s reliability. Since 2024, requirements for non-residents have tightened: now every stage — from submitting an application to account activation — is accompanied by multi-level controls.
Overview of KYC, AML, CDD, EDD regulatory framework
- Know Your Customer (KYC): mandatory identity verification, document checks, analysis of income sources and company structure.
- Anti-Money Laundering (AML) — transaction monitoring, sanctions-list screening, risk assessment of the client.
- Customer Due Diligence (CDD): basic verification of information, transaction history, and company reputation.
- Enhanced Due Diligence (EDD): in-depth checks for high-risk clients, including beneficiaries from countries with elevated AML risks.
COREDO’s experience confirms: successful completion of compliance procedures in British banks is possible only with proper document preparation and a transparent business structure.
The role of the FCA and PRA in financial regulation
- FCA, the main regulator overseeing compliance with KYC/AML standards, Licensing of financial services and the protection of customers’ rights.
- PRA — is responsible for the resilience of the banking system, financial transparency, and risk management.
The COREDO team has implemented projects for company registration and opening accounts in the UK, strictly adhering to FCA and PRA requirements, which helps minimize the risk of rejection and accelerate the approval process.
Documents required to open an account in England
Opening a bank account in England requires strict adherence to procedures and preparation of a complete set of documents. Below is the full list of documents needed to open an account in England, which will be required for successful identity verification and subsequent banking services.
Identity verification documents
- Passport (national or international) – the primary document required to open an account.
- ID card or driving licence, additional identity documents.
- Biometric Residence Permit – for residents with long-term status.
- Apostille and notarisation, required for documents issued outside the UK.
The COREDO solution includes a preliminary check of all documents for compliance with identity verification requirements in British banks, which significantly speeds up the process.
Proof of address for the account
- Utility bill: no older than 3 months.
- Tenancy agreement – signed by the landlord and stating the address.
- Council Tax notice (Council Tax): an official document from the local authorities.
If the client does not have an address in the UK, the COREDO team offers alternative options for proof of address, including statements from international banks and notarised documents.
Proof of income sources
- Bank statement for the last 6 months: confirms the stability of financial flows.
- Tenancy agreement, income statement and declared dividends – to confirm the legality of income.
In COREDO’s practice, there are often cases where banks require additional documents about family composition or property rights: we prepare an extended package in advance to avoid delays.
Documents for opening a corporate account
- Company registration certificate in the UK
- Memorandum and articles of association of the legal entity
- Details of the company’s directors and beneficial owners
- Notarised power of attorney to open the account
- Apostille for documents for British banks
Our experience at COREDO has shown that a correctly prepared package of corporate documents is a key factor in successfully opening a corporate account in the United Kingdom for a non-resident.
Verification of a UK bank account
Verification, a multistage process requiring precision and transparency at every step.
Stages of the sanctions screening process
– Submission of the application – online or through a COREDO representative.
– Identity verification, document upload, client video verification, biometric identification.
– Address verification – automated document processing, cross-checking with databases.
– Sanctions list screening, checking the client against international sanctions and PEP lists.
In some cases COREDO uses electronic identification (eID) and cloud document storage, which helps speed up the process and reduce operational risks.
Which banks open accounts for non-residents in the United Kingdom?
Choosing a bank is a strategic step that determines the speed of account opening and the quality of service.
Overview of banks and fintech solutions
- HSBC (United Kingdom): international transfers, corporate solutions, a high level of oversight.
- Barclays Bank, fast verification, flexible terms for startups and small businesses.
- Lloyds Banking Group, NatWest Group, Santander UK, Virgin Money: traditional banks with an extensive branch network and online banking.
- Wise (international transfers), Revolut (fintech solutions): multi-currency and business accounts, low fees, ability to open online.
The COREDO team has executed projects with each of these banks, selecting the optimal solution for the client’s needs: from corporate accounts for holdings to multi-currency payment systems for e-commerce.
Minimum balance and fees in a UK bank
Financial terms are one of the key factors when choosing a bank.
- The minimum balance in an account at a UK bank ranges from £0 (Wise, Revolut) to £1,000 (HSBC).
- Account maintenance fees: from £1/month (Wise) to £20/month (HSBC), plus additional charges for international transfers and foreign exchange transactions.
COREDO’s practice confirms: transparent cash flow planning and optimization of banking services can significantly reduce the costs of international payments.
Managing AML risks when a foreign national opens an account
AML is the main challenge for non-residents opening an account in a UK bank.
Which payments are considered suspicious
- Large transactions without a confirmed intended purpose.
- Transfers to/from countries with high AML risk.
- Frequent cryptocurrency transactions without a transparent history.
The COREDO team implements financial monitoring and transaction controls to minimize the risk of account blocking and to increase the client’s trustworthiness in the eyes of the bank.
Monitoring suspicious activity and sanctions lists
- Automated systems for client risk assessment.
- Regular audit of transactions and updating of compliance procedures.
COREDO’s solution includes training the client’s staff in AML fundamentals and preparation for Enhanced Due Diligence (EDD), which is critical for long-term scaling of banking services in the UK.
Open an account in the UK online: practical steps
Step-by-step guide based on COREDO’s practice:
- Registering on the bank’s online portal, choosing the account type, filling in the application form.
- Submitting documents – uploading scans of passport, proof of address, sources of income.
- Identity verification: video verification, biometric identification, digital signing of documents.
- Address verification, automated checks, requesting additional documents if necessary.
- Sanctions-list screening – checks against international databases.
- Account activation, receiving account details, enabling online banking and the mobile app.
Is it possible to open an account remotely without visiting the UK? Yes, most banks and fintech platforms (Wise, Revolut, Barclays) support online account opening for non-residents if the documents meet the requirements and video verification is successfully completed.
Timeframes for opening a corporate account in the UK
- Standard processing time: from 3 to 15 business days, depending on the bank and the completeness of the documents.
- Expedited process: possible with the involvement of a professional provider, prior agreement on the document package, and the use of electronic identification systems.
COREDO’s experience shows: proper preparation and proactive communication with the bank can reduce the time to open a corporate account at UK banks to 5-7 days.
Taxes when opening an account in the United Kingdom
Opening a bank account in the UK for a non-resident entails a number of tax considerations:
- Taxation of income on the account depends on the company’s jurisdiction, tax residency status and the type of transactions.
- Tax treaties and FATCA: the United Kingdom participates in international agreements on the exchange of tax information, including FATCA and CRS, which require transparency of income sources and regular reporting.
COREDO’s practice includes analysis of tax risks, optimization of company structure and preparation for international information exchange.
Key findings and recommendations
Checklist for a non-resident to open an account in the UK:
- Prepare a complete set of documents: passport, proof of address, sources of income, corporate documents.
- Choose the optimal account type (personal vs. corporate) considering business goals.
- Assess the bank’s requirements regarding client reliability and AML risks.
- Use professional support to speed up the process and minimize the risk of rejection.
- Ensure transparency of the company’s structure and sources of income.
COREDO’s advice: long-term success is possible only with a comprehensive approach – legal support, financial monitoring, compliance with all KYC/AML requirements and strategic planning of banking services.
Frequently Asked Questions
What documents are required to open an account at a UK bank for a foreigner?
Passport, proof of address, bank statement, income documents, corporate documents for a business account.
Passport, proof of address, bank statement, income documents, corporate documents for a business account.
Is it possible to open an account with a British bank without an address in the country?
Yes, if alternative documents are available (a letter from an international bank, a notarised rental agreement).
How to prove the source of income when opening an account in the United Kingdom?
Bank statement, rental agreement, dividend certificate, notarised documents.
Comparison of banks for non-residents
| Bank | Account type | Minimum balance | Fees | Online account opening | Features |
|---|---|---|---|---|---|
| HSBC | Corporate | £1,000 | £20/mo | Yes | International transfers |
| Barclays | Corporate | £500 | £15/mo | Yes | Fast verification |
| Wise | Multi-currency | £0 | £1/mo | Yes | Low fees |
| Revolut | Business | £0 | £7/mo | Yes | online banking |
Conclusion
Opening an account in the UK for a non-resident is a task that requires a strategic approach, precision in document preparation, and a deep understanding of the requirements of UK banks. COREDO’s practice shows: comprehensive support, compliance with AML standards, and competent legal assistance not only make it possible to pass all stages of approval but also to create a reliable platform for scaling a business in an international jurisdiction.
If you are looking for a long-term partner for company registration, obtaining a financial licence, or opening a bank account in the United Kingdom as a non-resident: the COREDO team is ready to offer solutions proven over time and confirmed by experience in the EU, Asia, and the CIS.