I can see many services that have advertised here on the forum and unfortunately have disappeared again, but which offer, for example, a UK LTD with local address or local Director!
As I see it, the reason for this is that both banks and payment services, as well as other financial services, are increasingly (if not constantly) asking for a utility bill for the company and that the director of the company is located in the same place as the company, or rather, at least in the same country.
The reason for this is the increasingly stringent requirements for banks and financial institutions to comply with anti-money laundering legislation and applicable international tax rules in the fight against tax evasion. It's important to note that just 2 - 3 years ago, such measures were not necessary. You could simply have a company in a particular country and get a bank account or payment processing without much trouble, as long as your business case was in order. Now it has changed, you must be able to prove that you have a legitimate company (which can be debated how legitimate it is when you read the following) and that the financial institution has checked everything is in order and that the company has a local director and address.
So, how can you meet these requirements, you might wonder?
It's actually quite simple, at least if you have the right service provider to establish your company. In this example, I will refer to Turner Little, who is also one of our sponsors. They are actually able to establish a phone line for your company if you let them handle everything. This solves the first problem, namely a utility bill that is accepted by financial institutions such as payment processors and banks! Are you sure about this, you think, and I can confirm that in cases where we needed it, it worked perfectly. It costs a bit each month (about 30 - 40$) but that's all.
Once Turner Little has done their job and everything is registered, you can take your documents and send them to another company I have found, Fletcher Kennedy ”“ they specialize in offering Nominee director and share holder for a UK company. It costs about 1000$ a year and that's it. Their director and shareholders give you access to their passport or utility bill, and they are all registered in the UK.
When you have set it up in this way, you are actually ready to apply for financial services with various European providers, such as EMI's, Neobanks, Payment Service Providers, and Crypto Exchanges where it is required to have a real UK address and a real director. It has worked exceptionally in the cases I have seen.
Should problems arise along the way and you feel that what I am writing does not work for you, do not come back and blame me or the forum.
Authors Note!
I am basing this on the business case and the instances where it has worked without problems for me. Each business case is different, and unfortunately, some people act so foolishly that they fail even when it is straightforward.Enjoy your business, and best of luck in making your company appear as a real entity.
