How Can an Israeli Company Open a Bank Account in the UK?

Expanding into the UK market offers Israeli companies access to one of the world's most dynamic financial ecosystems. However, opening a UK business bank account as a non-resident or foreign-registered company—such as one based in Israel—requires understanding the regulatory requirements and choosing the right banking partner. This guide outlines the process, eligibility, documents required, and alternatives available to Israeli companies looking to open a bank account in the UK.

Why Open a UK Bank Account as an Israeli Company?

There are several strategic benefits:

• Simplified trading in GBP and EUR

• Improved trust with UK suppliers and customers

• Easier access to UK-based fintech services

• Ability to open merchant accounts for local payments

• Faster settlement times for domestic transactions via UK FPS

Can an Israeli Company Open a UK Business Bank Account?

Yes, Israeli companies can open a UK bank account, but the process depends on:

• The bank’s policy towards non-resident entities

• Whether you’re opening a branch or a subsidiary in the UK

• Your company’s business activity, especially if it’s in a regulated sector

• Your ability to provide KYC/AML documentation

🧾 Documents Required

To open a bank account in the UK as an Israeli company, you’ll typically need:

Company Documents:

• Certificate of incorporation (from Israel)

• Articles of Association

• Company structure and shareholder register

• Proof of company address in Israel

Personal Documents (for all directors/shareholders >25%):

• Passport copy or national ID

• Proof of address (utility bill, bank statement)

• Tax identification number

Business Profile:

• Business plan or nature of business description

• List of expected transactions and counterparties

• Website and digital presence (if applicable)

• Invoices or contracts with UK/European clients

Additional (Optional but helpful):

• UK business address or virtual office

• UK tax registration (if applicable)

• Local director (for some traditional banks)

🏦 Types of Banks That Work with Israeli Companies

1. Traditional UK Banks

• Examples: Barclays, Lloyds, HSBC

• These banks often require a UK resident director or local presence

• May ask for in-person meetings

• Slower onboarding process and strict documentation review

2. Challenger Banks and Digital Banks

• Examples: Tide, Revolut Business, Wise Business

• Easier onboarding for non-resident companies

• Most operate entirely online

• Some still require a UK-based business address

3. EMIs and Fintechs with GBP IBANs

• Examples: N26, Monese Business

• Offer multi-currency accounts and GBP IBANs

• Faster approval and ideal for international businesses

• Excellent option for Israeli tech, e-commerce, or service providers

🌍 Can You Open the Account Remotely?

Yes, in many cases you can open a UK bank account remotely—especially with fintechs and EMIs. However:

• Traditional banks may request in-person verification or a UK director

• Challenger banks allow fully remote onboarding with video KYC

• Having a UK virtual address can improve your chances significantly

💡 Tips for Approval

1. Have a clear and legitimate business purpose in the UK

2. Use a UK-based virtual office address (for correspondence and compliance)

3. Prepare strong KYC/AML documentation in English or translated by a certified provider

4. Avoid high-risk sectors unless you have strong compliance documentation

5. Work with a banking intermediary or consultant if needed

⚖️ Tax and Legal Considerations

Opening a bank account in the UK does not automatically create tax liability, but it may trigger reporting obligationsunder UK tax law or FATCA/CRS. Consult a tax advisor to ensure compliance in both Israel and the UK.

📌 Final Thoughts

Opening a UK bank account for your Israeli company can be a smooth process if you're well-prepared. With the rise of digital banking and fintechs, Israeli startups, exporters, and service providers can now establish a financial foothold in the UK faster than ever before.

Need help finding the right bank or EMI? - Contact us for an up to date list of UK, EU or Swiss Banks that are friendly to Israeli businesses.