Revolut Business Bank Account for UK Sponsor Licence Start Ups
- Lace Law
- Mar 12
- 1 min read
UK companies who have been trading for less than 18 months are considered 'start ups' by the Home Office. As part of any start up's application for a sponsor licence, evidence of a corporate or business bank account with a UK bank or building society must be provided. The financial institution must also be authorised and regulated by the Prudential Regulation Authority, (PRA) and regulated by the Financial Conduct Authority (FCA).
Many of our clients have faced difficulties opening a corporate or business account which is eligible for these purposes. Traditional high street banks have in recent times applied greater scrutiny as part of the account-opening process due to more stringent money laundering regulations. Some digital banks have made this process less difficult.
As of today, Revolut Bank has received regulatory approval for a full UK banking licence by the Prudential Regulation Authority. This means it is FSCS protected and approved by the PRA and FCA. For companies considering an application for a UK sponsor licence in 2026, this may be an alternative avenue to secure an eligible business account as part of the mandatory documents in support of their application.
Contact us today if you are interested in applying for a Sponsor Licence or would like support with establishing your UK company.
