The United Kingdom
Banking services in the UK
The United Kingdom is at the heart of the world’s finance industry and through its bustling City of London hub, central location on the map (catering to all time-zones) and strong independent currency, it only continues to evolve and grow as a leading finance and banking centre.
The UK attracts foreign direct investment from all over the globe, coming third behind the US and China and receiving more FDI than any other European country. And, despite its departure from the EU in 2020, the UK has maintained solid relationships with Europe and with its language, time zone and highly skilled and qualified workforce remains a strong jurisdiction for international business.
Accountants, international corporations, lawyers and family offices seeking support with international banking requirements need expert providers who have extensive experience working with the major banks to offer their clients a streamlined and efficient solution when it comes to their UK banking requirements.
Doing Business in the UK: the benefits
The UK offers an attractive, business-friendly environment with a stable economy, exceptional talent and robust regulatory and legal frameworks in place, making it one of the easiest markets to set up, scale and grow a business.
With an array of tax reliefs and incentives offered to international businesses, the UK has a competitive advantage within Europe for doing business. Attracting global talent, taking an innovative approach to growing businesses, and infrastructure are amongst some of the benefits businesses can avail of in the UK.
The UK’s central bank and banker to the Government is The Bank of England which was founded as a private bank in 1694. In its prominent location in the City of London and at the heart of the UK’s finance industry, the Bank of England works to keep the UK financial system stable and is responsible for regulating and supervising the major banks and their activity under the Prudential Regulation Authority.
In addition to the BoE, the UK’s other main regulatory body is the Financial Conduit Authority (FCA), responsible for regulating the conduct of financial services firms, supervising their activity and setting specific standards to ensure the UK’s financial markets are transparent and fair.
Banking in the UK
The UK’s banking sector is a leading global hub with an established reputation as one of the world’s most significant and innovative financial centres. As the largest banking sector in Europe it’s clear why it’s such a prime location for some of the world’s largest investments.
Home to over 365 banking institutions, a number of which are headquartered in the UK, the region’s banking sector is also a popular location for private and investment banking. And, as the regulatory landscape changes at rapid pace and technology is evolving to enable greater efficiency, the UK is leading the way in adapting and adopting new opportunities.
It can be relatively straightforward to set up a UK bank account, but when this comes to international investors this can take some time. We can assist with expert international banking solutions.
Established since 2012, we assist regulated CSPs, trustees, fund managers and professional advisors with their international banking requirements. With a network over 30 international and offshore banks, we’re experts when it comes to helping businesses open bank accounts promptly.
If you’re an accountant or law firm looking to open a bank account for your clients, an international corporation in need of banking services or a family office looking for a banking partner to support with high-risk clients, we can help.
ikyc international banking services:
Banking solutions for regulated trustees, family offices and professional advisors (e.g. law firms)
Quick and efficient set up of international bank accounts
Treasury risk management
Designated banking and cash management
Multi-currency offshore and onshore bank accounts
Real estate financing and real estate lending options
Get in touch with us today to learn more about how we can support you with your international banking requirements in the UK.