Banking License in Great Britain
Great Britain has a well-developed banking system. The foundation of financial legislation dates back to the late 17th century, with the establishment of the first bank in 1694. This period marked the creation of one of the most progressive banking systems in the world.
If you wish to register a financial organization in Great Britain, it is essential to understand the rules and requirements set by the financial regulator. Any mistakes in the registration process could result in refusal and cause delays. Lawtter Solutions can assist in obtaining a banking license in Great Britain while ensuring compliance with all necessary requirements.
Services
Advantages
Advantages of Bank Registration in Great Britain
In Great Britain, financial services are provided by over 200 banks. Besides, numerous other financial institutions are registered in the jurisdiction and operating in foreign markets. The United Kingdom has several significant advantages:
The issuance of electronic money is also possible in the United Kingdom, provided that the appropriate authorization is obtained.
Who Regulates Banks in the UK?
Two authorities are responsible for banking regulation in Great Britain:
- Financial Supervision Authority (FCA)
- Prudential Regulation Authority (PRA)
Suppose you plan to open a classic bank for depository, credit, and investment activities. In this case, you should obtain the license approval from FCA and then from PRA.
MiFID II regulates bank activity
Therefore, it is easier for banks registered in the United Kingdom to join the EU markets.There are no residency requirements for shareholders
Companies' shareholders can be citizens of any country except persons on sanctions lists.The possibility of corporate tax exemption
Under certain conditions, British companies may not pay corporate tax.Agreements on the avoidance of double taxation
Great Britain has concluded relevant contracts with a bunch of countries.Requirements for Obtaining a License
If you plan to get a license to provide banking activities in the United Kingdom, you should meet several requirements. These demands include business plans, office, staff, etc.
Documents
List of Documents for Registration
A documentation package must be submitted to register a bank in the United Kingdom. This includes the following documents:
- Registration data of a legal entity.
- Business plan of the bank.
- Personal data of shareholders and top managers.
- A document confirming the payment of the authorized capital.
- Information about the office.
- Receipt of payment of state duty – 25,000 GBP.
Once a company has submitted the required package of documents, the FCA and PRA perform checks to ensure that the provided information is correct. At this stage, additional documents may be required to confirm or clarify the data. After the completion of the licensing procedures and a positive decision from the FCA and PRA, the bank is given 12 months to complete preparations to start operations.
Terms
Lawtter Solutions – Bank Registration in Great Britain on Favorable Terms
The Lawtter Solutions company offers bank registration services in Great Britain. Our company’s specialists have extensive experience in this field. In the first stage, we provide consultation, where you can learn about the procedure’s main requirements and features. We prepare a package of documents and provide legal support for the registration process. We offer registration of financial organizations in the United Kingdom on favorable terms.
+38 093 177 52 70 
+1 484 457 89 11 
+44 745 819 79 87 Important: Lawtter Solutions does not provide services to citizens and residents of the Russian Federation.