- Vidit Agarwal
- October 03, 2023
Opening a bank account as a UK non-resident could be a bit more challenging than as a UK resident, but it can be possible with some effort. It's necessary to know that the bank may have its specific requirements and policies for non-UK resident account holders. Banks may also conduct due diligence and know-your-customer (KYC) for safety and security purposes. Preparation is required here for these procedures.
Eligibility Criteria to Open a Bank Account in the UK
The eligibility criteria may vary depending on the bank and the type of account you want to open. Also, the banking regulations may change over time in the UK, so it's better to consult with bank representatives or some consultants in the UK. Leadforce helps to open the door for non-UK residents to have a bank account in the UK. The few eligibility criteria points are:
- Residential status matters here. The bank asks whether you are a UK resident or a non-UK resident.
- The age requirement should be at least 18 years of age. In the case of minors, some banks may offer to open an account but with the consent of a parent or guardian.
- You should have all the documents and identification proof of identity, address, income, and other required details.
- In the case of a non-resident, the bank may ask about the purpose of the account.
Also See: Buy a UK VAT Registered Company
Opening a UK bank Account as a Non-Resident
Being a citizen of the UK, you will have to face no extra effort for opening an account. You only need to visit the bank with the required documents. In a few days, you will have your bank account. The efforts may vary according to the requirements if you are a non-UK citizen. But most of these below need to follow:
- You will have to be physically present to meet the bank representative. These are the guidelines of a few banks that you need to present for opening a bank account so that they can verify your identity properly. Online process is also available but it depends on the bank's guidelines.
- Your identification is essential and can be verified by your passport or other valid documentation.
- Residential proof for the place you are living either in the UK or outside the UK.
- Other tax documents for verification. The bank can ask you to check your tax status in the country you are residing.
The account opening process can be done online or by physical visit. Some banks allow you to apply online for non-residents, while others may ask to present physically. You can also hire some agents to do your task easily. You only need to provide your documents, and the account opening consultants like Leadforce will gather all the information and work for you.
Before starting, do some homework and search for the best bank option in the UK. Compare the fees, services and account type details that can suit your needs better as a non-resident account holder.
