Ltd company formation (from outside of UK)
Discussion
Hello,
I am looking to set-up a Ltd company and need a little help. I have done it once before but my circumstances were different.
I'm now living and working in Sweden, but I would like to set-up a UK Ltd company and obtain a bank account, the last part seems less easy now I am out of the UK.
Should I just try and apply online and not give my location, or is there someone/service/bank happy to help?
Thanks in advance
I am looking to set-up a Ltd company and need a little help. I have done it once before but my circumstances were different.
I'm now living and working in Sweden, but I would like to set-up a UK Ltd company and obtain a bank account, the last part seems less easy now I am out of the UK.
Should I just try and apply online and not give my location, or is there someone/service/bank happy to help?
Thanks in advance
Once the company is incorporated then opening a bank account should not be a problem.
If you want to do it the easy way, as a non-resident, then something like this makes it very simple:
https://www.1stformations.co.uk/package/non-reside...
If you want to do it the easy way, as a non-resident, then something like this makes it very simple:
https://www.1stformations.co.uk/package/non-reside...
Thanks for this.
I'm just wondering whether when I am back in the UK next time I just set things up as if I would if I was living there. Technically it would be a bit grey I guess, but who would know?
I have seen that it can be hard to get banking facilities for non-resident UK citizens for Ltd companies.
I'm just wondering whether when I am back in the UK next time I just set things up as if I would if I was living there. Technically it would be a bit grey I guess, but who would know?
I have seen that it can be hard to get banking facilities for non-resident UK citizens for Ltd companies.
Registered office of the company would be its address and location.
If you have trouble opening an account I'd suggest going offshore, will get you a sterling account (which I presume is what you need?) and the banks are quite used to opening accounts for entities registered all over the place.
Any particular reason for using an English/Scottish company?
If you have trouble opening an account I'd suggest going offshore, will get you a sterling account (which I presume is what you need?) and the banks are quite used to opening accounts for entities registered all over the place.
Any particular reason for using an English/Scottish company?
Can't see any issues. Registered office would be your parents place. Bank will want due diligence on the ltd and you. Providing you can provide a utility bill showing your residential address in Sweden then no issue. Similar set up to a company I know, the only aspect based in the uk are the registered office, the corporate records and the bank. Everything else inc directors are offshore
Stevanos said:
Aren't Ltd Co business accounts based on the director(s) rather than the company?
No.The Ltd CO is a separate Legal Entity in it's OWN right.
Information on the directors / signatories of the bank accounts will be needed to open the bank account though - no need for these to be UK resident.
sgrimshaw said:
Stevanos said:
I have seen that it can be hard to get banking facilities for non-resident UK citizens for Ltd companies.
Well being a Limited Company Incorporated in the UK, the Company (which has the Bank account) is UK resident - so it shouldn't be a problem.Its going to be basically impossible for someone to get a ltd company bank account whilst living in Sweden and no legitimate address in UK.
Setting up a company can be done in 30 minutes online... the bank account is a whole other ball game.
KFC said:
Sgrimshaw sorry but you're talking a lot of nonsense here!
Its going to be basically impossible for someone to get a ltd company bank account whilst living in Sweden and no legitimate address in UK.
Setting up a company can be done in 30 minutes online... the bank account is a whole other ball game.
I know procedures can vary between banksIts going to be basically impossible for someone to get a ltd company bank account whilst living in Sweden and no legitimate address in UK.
Setting up a company can be done in 30 minutes online... the bank account is a whole other ball game.
If the Ltd Co is a UK Company with its registered address in the UK why will there be an issue ?
As long as the Directors can provide Proof of ID and Proof of Address for themselves, from my experience these will either need to be provided in person or have certified copies from a Solicitor or Notary
I have direct experience of accounts being opened in such a case, it wasn't that difficult
Hyde said:
I know procedures can vary between banks
If the Ltd Co is a UK Company with its registered address in the UK why will there be an issue ?
As long as the Directors can provide Proof of ID and Proof of Address for themselves, from my experience these will either need to be provided in person or have certified copies from a Solicitor or Notary
I have direct experience of accounts being opened in such a case, it wasn't that difficult
I can give a UK address for myself, it is my parents place, I reside there quite frequently. But for tax, I am in the Swedish tax system. If the Ltd Co is a UK Company with its registered address in the UK why will there be an issue ?
As long as the Directors can provide Proof of ID and Proof of Address for themselves, from my experience these will either need to be provided in person or have certified copies from a Solicitor or Notary
I have direct experience of accounts being opened in such a case, it wasn't that difficult
KFC said:
Its going to be basically impossible for someone to get a ltd company bank account whilst living in Sweden and no legitimate address in UK.
Wrong!You seem to not understand that the OP's Ltd Company will be a separate legal entity which is UK resident, where the directors reside is completely irrelevant.
In a similar vein, if you know what you are doing, it's actually not that difficult for a non UK resident company to open a bank account in the UK
Thought about an Offshore Company? I think you can have a bank account with a Guernsey company.
This is really not my field of expertise, but loads of people seem to do it.
http://www.albecq.com/guernsey-companies-faq is just one of the offices that do it.
This is really not my field of expertise, but loads of people seem to do it.
http://www.albecq.com/guernsey-companies-faq is just one of the offices that do it.
sgrimshaw said:
Wrong!
You seem to not understand that the OP's Ltd Company will be a separate legal entity which is UK resident, where the directors reside is completely irrelevant.
I understand that perfectly but back in the real world the banks won't want to go anywhere near this. There is going to be zero recourse available to them if you run some scam or anything else unsavoury from the account. You seem to not understand that the OP's Ltd Company will be a separate legal entity which is UK resident, where the directors reside is completely irrelevant.
I'm a UK resident living abroad... I've been through all of this. Go offshore, or setup in your new country.
KFC said:
I understand that perfectly but back in the real world the banks won't want to go anywhere near this. There is going to be zero recourse available to them if you run some scam or anything else unsavoury from the account.
I'm a UK resident living abroad... I've been through all of this. Go offshore, or setup in your new country.
If it wouldn't constitute a breach of contract with a client I'd upload the completed forms which enabled a UK company which has non UK resident directors to sucessfully open three separate bank accounts in the UK.I'm a UK resident living abroad... I've been through all of this. Go offshore, or setup in your new country.
No breach to tell you that the bank in question is HSBC.
I have direct experience of opening business bank accounts for UK based Limited companies where the directors do not reside within the UK.
Cases where some of the directors lived outside the UK and some cases where they all live outside the UK
Stevanos it is possible and would be happy to discuss the same with you
PM me if I can be of any assistance
Cases where some of the directors lived outside the UK and some cases where they all live outside the UK
Stevanos it is possible and would be happy to discuss the same with you
PM me if I can be of any assistance
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