Starting a business overseas

[putneylad]

Hi

I am starting a business overseas (outside european union), I am a UK citizen and I will be sending some of my profits back to my uk bank account.

Because I am in a lucrative business, should i contact my uk bank and let them know where my money will be coming from? My company is registered overseas, should I register in the uk too?

I dont really trust local banks where I am and for some transactions i need to make, some of the institutions i deal with want me to make it from a business account...should i create a business account in the uk too with my company name?

Thanks

 

[fisicx]

Yes, create a business account in the UK. You don’t need to tell them about where the money is coming from.

 

[putneylad]

ok thanks so much for replying.

 

[fisicx]

But if you start transferring lots of cash into the UK the bank may start asking questions.

 

[Tom Ardley]

Hi putneylad,

I work for a corporate fx brokerage in London and this may be something we can help with.

Will you be having to move funds from one currency to another? If so we can provide you with your own currency accounts in your company's name.

 

[MOIC]

I think you'll find that the 'main high street banks' will request information if large deposits are made, whether by tt, cash or any other method.

 

[Volopa]

Like MOIC said, the banks gonna ask you the questions regardless. Like Tom, I can probably help with FX.
However, you will get asked questions by your bank for obvious reasons.