COMPANY FORMATION AND BUSINESS BANGKING
Establishing a UK limited company involves registering with Companies House to receive your Certificate of Incorporation.
The 3-Step Formation Journey
- Structure & Identity: Select a unique company name and appoint at least one director (aged 16+) and shareholder. Mandatory Identity Verification is now required for all new directors and People with Significant Control (PSCs) via GOV.UK One Login.
- Legal Filing: Prepare your Memorandum and Articles of Association. You must provide a physical UK Registered Office Address (not a PO Box) and a Registered Email Address for official correspondence.
- Compliance & Tax: Digital registrations are typically processed within 24 hours for a fee of £100 (increased from £50 as of Feb 2026). Once incorporated, you must register for Corporation Tax with HMRC within three months of trading.
Securing Your Business Bank Account
A business bank account is legally required for limited companies to keep finances separate.
Required Documentation
Banks perform strict security and anti-money laundering checks, usually requiring:
- Company Proof: Your Certificate of Incorporation and registration number.
- Identity & Residency: Passports or driving licenses for all directors and shareholders owning over 25%. You will also need a utility bill or bank statement (less than 4 months old) as proof of address.
- Business Profile: Details of your industry (SIC code), estimated turnover, and a business plan—essential for high-street banks or non-resident applications.
Choosing the Right Provider
- Digital/Fintech: Providers like Starling Bank, Tide, or Monzo offer faster, often same-day verification and are ideal for startups.
- Traditional Banks: High-street names like Barclays, Lloyds, or HSBC offer comprehensive services but may take weeks to verify, especially for complex or non-resident structures.
- Non-Resident Note: If directors are not UK residents, traditional banks may have stricter residency requirements. Many overseas founders successfully use digital alternatives like Wise Business to begin trading quickly.
Let’s Desing your Business Blueprint
Great businesses aren’t built on guesswork—they’re built on expert strategy. Whether you’re navigating company formation or seeking tailored funding, our specialists are ready to help you bridge the gap between where you are and where you want to be. Start the conversation that scales your vision.