Hello! I am one of three directors of a CIC. I am the only resident director in the UK, and the other two live in Argentina. We have been trying to open a bank account but it is extremely difficult because most banks won't allow it. We tried Lloyds, HSBC and Coop.
I have to questions:
1. Is there any other bank that may have an option for overseas directors?
2. One of the easiest ways to deal with the problem is the overseas directors resigning, open the bank account and re-appointing them after. Is this possible? will it be troublesome for the future?
Most banks won't allow to have directors who live overseas. I tried with:
- HSBC: all Directors need to go to a UK branch to proof identity. this option is too expensive for us.
- Lloyds: according to their website they allow overseas directors as long as at least one is resident in the UK. The application can only be done through telephone. I only found out that it our application didn't work a month later, when I called again to ask why documents weren't send. They just said that my CIC wasn't able to apply anymore.
- Last option is Barclays, but they ask for a 20k deposit. Not going to happen