Getting a bank a/c without overseas director present

wc1966 · Jul 1, 2010

I am currently involved in setting up a company in the UK. In the company there is a sole director who is resident overseas (Australia). We are going through the process of obtaining a VAT number, however to get a VAT number you need a bank account. However, banks request that the bank account holder to be present to set up up the account (to comply with money laundering rules). In this instance it isn't really practical to fly a director half way round the world to get up a bank account set up. Just wondered if anyone out there has experienced a similar situation and how they got around it.

David Griffiths · Jul 1, 2010

1 Get the Australian director to resign

2 Open the bank account

3 Appoint a new director in Australia

elaine@cheapaccounting · Jul 1, 2010

get a sterling bank account from an Australian bank

David Griffiths · Jul 1, 2010

Just spotted that it's a sole director, which probably makes my first post impractical

CDB · Jul 6, 2010

wc1966 said:
I am currently involved in setting up a company in the UK. In the company there is a sole director who is resident overseas (Australia). We are going through the process of obtaining a VAT number, however to get a VAT number you need a bank account. However, banks request that the bank account holder to be present to set up up the account (to comply with money laundering rules). In this instance it isn't really practical to fly a director half way round the world to get up a bank account set up. Just wondered if anyone out there has experienced a similar situation and how they got around it.

You could use a bank which has branches in Australia & UK. I set up a HSBC a/c for my Ltd co with one director/shareholder living in Oz - he just had to go into his local branch & verify signature, give ID etc

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Getting a bank a/c without overseas director present

wc1966

David Griffiths

elaine@cheapaccounting

David Griffiths

CDB

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