Starting a Business with Bad Credit or in Bankruptcy
The Problem
It was never easy to start a business in the UK when you had a poor or bad credit file, and certainly almost impossible in Bankruptcy, but today with the insane attitude towards such clients by the UK Banks, it is now totally impossible.
The Solutions
But there are answers to this difficult problem, and certainly a number of alternatives.
1. The ‘Offshore’ Company By far the easiest way is to form an IBC (International Business Company), sometimes known in less politically correct times as an ‘Offshore Company’. IBC Companies, despite all the bad publicity, are perfectly legal as long as you declare any tax due to our friends at Revenue and Customs!
What forming an IBC Company does for you, in one single stroke, is allow you to open up a Bank account without a UK credit score. The best specialist Company who provide this service is Amanda J Molyneux & Company (tel: 01305 853310 website http://www.molybank.com/). Amanda J Molyneux & Co provides a great package consisting of a Tax Free IBC Company with a Guaranteed Bank account with absolutely no credit score. The account is with a major European Bank.
2. The Nominee Director. Another alternative to the problem is to use a nominee Director or a family member to enable your new business to open a UK Bank account. Of course this can only be done if the Company is a Limited Company. This option is not available to Sole Traders.
The Business Anarchist 1 day seminars cover all these issues in detail and will ensure you can start your new business on a sound footing – more details here
It was never easy to start a business in the UK when you had a poor or bad credit file, and certainly almost impossible in Bankruptcy, but today with the insane attitude towards such clients by the UK Banks, it is now totally impossible.
The Solutions
But there are answers to this difficult problem, and certainly a number of alternatives.
1. The ‘Offshore’ Company By far the easiest way is to form an IBC (International Business Company), sometimes known in less politically correct times as an ‘Offshore Company’. IBC Companies, despite all the bad publicity, are perfectly legal as long as you declare any tax due to our friends at Revenue and Customs!
What forming an IBC Company does for you, in one single stroke, is allow you to open up a Bank account without a UK credit score. The best specialist Company who provide this service is Amanda J Molyneux & Company (tel: 01305 853310 website http://www.molybank.com/). Amanda J Molyneux & Co provides a great package consisting of a Tax Free IBC Company with a Guaranteed Bank account with absolutely no credit score. The account is with a major European Bank.
2. The Nominee Director. Another alternative to the problem is to use a nominee Director or a family member to enable your new business to open a UK Bank account. Of course this can only be done if the Company is a Limited Company. This option is not available to Sole Traders.
The Business Anarchist 1 day seminars cover all these issues in detail and will ensure you can start your new business on a sound footing – more details here
posted by Charles Farran at
13:34
