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Tax Engineering

Offshore bank account in United Kingdom

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Open business or personal offshore bank account in the United Kingdom without a physical presence. Use your SEPA bank account to create accounts in PayPal, Apple Pay, Skrill, Stripe, Amazon payments, Neteller and Google Checkout.

Reference: CB22366GB

$702

Open an offshore bank account in England, UK

Opening an offshore bank account in the United Kingdom without physical presence is a very difficult task. However, thanks to our experience and relationship with English banks we can assist you in this journey converting it into a quick and easy process where your physical presence is not even required. Once the documentation that you have presented is analyzed and approved by the "Compliance" department, your offshore account gets activated. The bank will assign you a manager who will help you to cope with banking services such as: debit and credit cards, checks, foreign currency accounts, payment gateways and mortgage.

In the United Kingdom individuals and companies residents or companies non-residents of the United Kingdom can open the bank accounts. As a general rule, English banks do not approve bank accounts for companies registered in tax havens if it is not proven that the final beneficiaries of these companies are tax residents in these offshore jurisdictions with low taxes. The individuals also can apply for a bank account in the UK motivated by the following reasons: financial sector specialized in electronic commerce, financial stability, investment security, long time experience in the banking sector and the great ease of using payment systems such as PayPal, Apple Pay, Skrill, Stripe, Amazon payments, Neteller and Google Checkout.

Banking secrecy and automatic exchange of financial account information 

By now the United Kingdom has signed 48 bilateral agreements of automatic exchange of financial account information. United Kingdom together with other countries is committed to eliminate bank secrecy for individuals and companies that hold non-resident bank accounts in the banks of all participating countries. What does this mean? On 29th of October 2014, in Berlin an agreement was signed with the purpose to exchange automatically the information on bank accounts opened by non-residents in other countries. By now the automatic exchange of information agreement has been signed by more than 100 countries (the countries that have signed information exchange agreement), however it doesn´t mean that the bank account information will be exchanged between all of them. That is, if two countries do not show a mutual interest in sharing banking information of their citizens between them and therefore do not sign a bilateral agreement, the OECD cannot force them to proceed with the joint exchange of information. For example, the United Kingdom has signed the automatic exchange of information agreement but will not exchange financial account information with all other participants and will only do so with the countries with which it has signed an additional bilateral agreement. Currently the United Kingdom has signed this agreement with 48 countries. You can see the updated information following this link (bilateral automatic information agreements).

The bilateral agreements signed by the United Kingdom will affect the citizens of 48 jurisdictions, in particular those who hold non-resident bank accounts, eliminating completely the idea of financial secrecy and anonymity. The banking confidentiality of the rest of the countries that have not signed the bilateral agreement with the United Kingdom will not be affected, that is, the foreign banks will never report their financial information to the tax authorities of their resident country. The new regulations for the exchange of information have created many problems for and between some of the countries. The intention of European Commonwealth countries such as Germany, Spain, France, Italy and the United Kingdom was that all countries signed bilateral agreements with each other, but after all things did not go that way. In a real world it is hard to imagine Israel signing a bilateral agreement for the automatic exchange of financial information with Lebanon, Saudi Arabia, Indonesia or the Arab Emirates. Due to the "non-fiscal conflicts" that exist between these countries it makes it very difficult or even impossible for them to work together on elimination of banking secrecy

Bilateral agreements with United Kingdom

Year 2017 Andorra, Argentina, Austria, Belgium, Bulgaria, Caribbean Netherlands, Colombia, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Greenland, Guernsey, Hungary, Iceland, India, Ireland , Isle of Man, Italy, Jersey, Korea, Liechtenstein, Latvia, Lithuania, Luxembourg, Malta, Mexico, Monaco, Holland, Norway, Poland, Portugal, Romania, San Marino, Seychelles, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland.
Year 2018 No bilateral agreement has been signed in 2018.


It is completely legal to open an offshore bank account in the United Kingdom. An individual or a company that wants to develop an international business or simply to move its money offshore in order to achieve more security will not be committing any crime. If a physical person is a citizen of a country that has signed a bilateral agreement with the United Kingdom, it is advisable for him/her to inform his/her tax authorities about the intentions to open a non-resident account in the United Kingdom, and then through double taxation agreements deduct the income taxes in his country of residence. If, on the other hand, the bank account has been opened by a resident company (registered in the United Kingdom) or non-resident company (for example, registered in Belize) the beneficial owner will not be obliged to repatriate the dividends of the company annually and therefore will be able to keep all the generated earnings on his offshore bank account in the United Kingdom without paying income taxes. The owner of the company will have to pay the income taxes only when he transfers the money to his country of residence but in case if he wants to keep it on the account for further business investments or just as a security deposit legally the generated profits will still belong to the company and the beneficial owner doesn’t have to pay tax on this amounts. With time the company might go through the international expansion requiring corresponding expenses. Consequently, the dividends would decrease and logically the income taxes that the beneficial owner will have to pay in his country of residence would decrease correlatively.

Advantages of opening a bank account in the United Kingdom

The main advantages of opening a bank account in the United Kingdom are the following:

  • Opening an offshore bank account in the United Kingdom is legal.
  • Bank secrecy and anonymity are guaranteed for the citizens of those countries that did not sign a bilateral agreement with UK.
  • The possibility to open business and personal offshore bank account in the United Kingdom remotely.
  • Online banking platforms and wide range of banking services: foreign currency accounts, credit cards, letters of credit, accounts to invest in the stock market, payment gateways, credits.
  • Low bank account maintenance fees.
  • Professional financial advises for great fortune owners.
  • Banks in the United Kingdom are highly regulated and conserve clients´ deposit protection laws.
  • Once all the requirements are fulfilled it takes 15 days to open the account.

Bank Commissions in England

Approximate bank commissions and minimum deposit
Maintenance of bank account
400 Euros/year
Wire Transfer IBAN/SEPA
6 Euros
Wire Transfer SWIFT
45 Euros
Debit or Credit card
60 Euros/card
Customer support in following languages
English, French, German, Russian
Minimum deposit
300 Euros


*The customer can open a bank account in any international legal currency they want, (Euro, Dollar, Canadian Dollar, Australian Dollar, British Pound, Japanese Yen, Swiss Franc etc)

*All the management at the opening of bank account do not need a physical presence in the country, all efforts will be made through e-mail and / or registered mail.

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    in United Kingdom
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    with or without physical presence
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    with online banking 24/7 included
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    in the name of the individual or company
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    in English
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    to any part of the world
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    Notarised certified by a notary
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    certified by a notary
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    electricity, water, gas, telephone or bank statement
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    in English
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    Articles of incorporation of the company, memorandum of association, register of directors, registered shares certificates and for companies registered more than one calendar 1 year ago "Certificate of good standing"

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