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Opening of
bank accounts
Most companies will need a bank account through which to trade.
When opening bank accounts it will be necessary to fulfil the due diligence
requirements of the Bank. These can vary from bank to bank, but the basic
requirements are:·
- verification of
the company by providing a copy certificate of incorporation and memorandum
of association to the bank
- verification of
the ownership of the company by providing a copy passport and utility
bill (or similar documentation) in relation to each shareholder (or
beneficial owner if the shareholders are acting as nominees); and
- verification of
the people in control of the company on a day to day basis by providing
a copy passport and utility bill (or similar documentation) in relation
to each director of the company.
Administration
of bank accounts
The bank mandate will set out the authorised signatories ie those people
who are able to give instructions to the bank to transfer funds.
If our director services
are taken up it is a requirement that our authorised signatories are appointed
to the bank account and that Jordans administers the bank account.
In doing so we have to comply with anti-money laundering legislation and
therefore will need to be provided with information on the reasons for
any transfer requests. |
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Opening of
bank accounts
We can open bank accounts on behalf of UK or offshore companies in the
UK or overseas.
Our fee for opening bank accounts will vary as the amount of work in opening
accounts will vary depending on the location of the company and its officers
and the jurisdiction in which the account is located. The prices for setting
up a bank account start from £500 + VAT.
Administration of bank accounts
We will:
- provide authorised
signatories
- instruct the bank
in relation to transfers provided that our anti-money laundering procedures
have been satisfied
- provide copy statements
to the company or its nominated advisers.
Our annual fees for
administering a bank account starts at £70 + VAT, with additional
fees being payable per transaction.
Next steps
Click
here to review fee structure.
To order contact Jason
Reader on 0117 918 1387.
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