Yes, you can open a USD business bank account for your UK Ltd — fully remotely, without a UK-resident director and without a personal UK address. Hollis & Co. provides FDIC-insured USD accounts for UK-incorporated companies through Column N.A., Member FDIC.
Why UK companies need a USD bank account
UK Ltd companies frequently invoice in USD, work with US clients, and receive payouts from platforms like Stripe in dollars. Holding and transacting in USD from a GBP-only account means currency conversion fees on every inbound payment. A USD account under your UK Ltd lets you receive USD directly, pay US vendors in their currency, and keep your USD operating funds separate from your sterling account.
The problem with traditional banks
Opening a UK business bank account as a non-resident founder is harder than it looks.
- Big Four require a UK-resident director: HSBC, Barclays, Lloyds, and NatWest all typically require at least one UK-resident director — and most require an in-person branch visit to complete the application.
- Fintechs require a genuine physical UK address: Challenger banks and fintechs that do accept non-resident directors still typically require a physical UK address for the business or director — not just a registered office service.
- Companies House name matching is a common rejection trigger: The company name on your application must match your Companies House record exactly — including punctuation and "Ltd" vs "Limited." Mismatches cause rejection without clear explanation.
- Corp Tax and VAT obligations exist regardless: Non-resident founders often don't realize their UK Ltd may have UK Corporation Tax and VAT obligations regardless of where the directors are based. Banking doesn't change this, but it's worth knowing.
What documents you need
- 1Exact company name and Companies House registration number from your Certificate of Incorporation (the name must match Companies House records exactly, including any punctuation)
- 2Details for every director and Person with Significant Control (PSC) registered at Companies House
- 3Government-issued photo ID and proof of residential address for every director and PSC
- 4Registered office address for the company
How to open a USD account for your UK Ltd
- Verify your Companies House record. Check that your company name, registration number, directors, and PSCs are all accurate and up to date at Companies House before you apply.
- Gather director and PSC documentation. Passports and proof of residential address within 90 days for every director and PSC.
- Apply with Hollis & Co. Submit your application fully remotely — no UK-resident director required, no personal UK address required, your registered office address is sufficient.
- Get approved and start banking. Complete applications are reviewed in days. Once approved, your FDIC-insured USD account is ready for wires, ACH, and payment platform connections.
How long does it take?
The Big Four UK banks can take 4–12 weeks and frequently decline non-resident directors. UK fintechs are faster but impose their own address and residency requirements. Hollis & Co. processes complete applications in days. Having your Companies House documents and KYC materials ready — and verifying your company name matches exactly — keeps the process fast.
How much does it cost?
Hollis & Co. charges a $500 setup fee and a $400 annual fee for UK companies. There is no minimum deposit required to open or maintain the account.
Frequently Asked Questions
Can a UK Ltd open a USD bank account without a UK-resident director?
Yes. Hollis & Co. does not require a UK-resident director. The residency requirements at UK high street banks are their own policies — they're not a legal requirement for your UK Ltd to have a bank account.
Do I need a personal UK address to open a business account for my UK Ltd?
No. Hollis & Co. does not require a personal UK address. Your company's registered office address is sufficient for the application.
Is a Hollis USD account a UK bank account?
No — it's a US-based USD business account issued through Column N.A., Member FDIC. It gives your UK Ltd a USD account for international business. It complements, rather than replaces, a GBP account if you have UK-domestic banking needs.