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Bank account for a UK LLC (dormant) - post Brexit issues

lokifree

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Feb 23, 2021
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I've recently opened a personal holding LLC company for the EU client in the UK. We knew that bank account could be the issue but client had a relationship with a Swiss bank (personal account) so we thought (as it normally happens) that opening a corporate account with a Swiss private banking will not be in issue. Apparently it is now. Post-Brexit situation puts UK companies on the radars of Swiss banks and two Swiss banks already declined opening an account. As I was told it has something to do with UK's relationship with OECD but I cannot verify it easily. The client is legitimate, only source-proven funds, full track record.

Does anybody have similar experiences? How to deal with it? Cheers!
 
It's not the first I hear of it. Some banks are making it unnecessarily difficult to conduct business between EU and UK, and the Swiss banks are probably reliant on EU and UK banking for access to EUR and GBP.

If the bank won't budge, not much you can do but keep trying others. Consider dropping the UK company unless you specifically need a company in the UK?
 
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If the bank won't budge, not much you can do but keep trying others. Consider dropping the UK company unless you specifically need a company in the UK?
Thanks! The Client specifically wants the UK company (personal wish). And at some point I said yes let's do it as I wasn't envisaging the given proven with the Swiss bank account. Who knows, maybe it makes more sense to drop the idea now....
 
I've recently opened a personal holding LLC company for the EU client in the UK. We knew that bank account could be the issue but client had a relationship with a Swiss bank (personal account) so we thought (as it normally happens) that opening a corporate account with a Swiss private banking will not be in issue. Apparently it is now. Post-Brexit situation puts UK companies on the radars of Swiss banks and two Swiss banks already declined opening an account. As I was told it has something to do with UK's relationship with OECD but I cannot verify it easily. The client is legitimate, only source-proven funds, full track record.

Does anybody have similar experiences? How to deal with it? Cheers!
you can open in locations like Montenegro, Macedonia (ProCredit for example). Another options could be available depends on the residency and citizenship of the owner. UK bank options will be available in the case of appointment local nominee director
 
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