The US dollar is not the primary currency in the UK.
Banks usually offer corporate accounts in GBP, while USD is treated as an "additional foreign currency account."
To open one, a company must justify the need for USD — for example, contracts with US partners, suppliers, or settlements in this currency.

Strict compliance and AML requirements
Banks conduct thorough checks on beneficiaries, company structure, and the source of funds.
They also require proof of economic substance — such as an office, employees, and real contracts.
Companies without an actual presence in the UK often face rejection.

Dependence on the US
All USD transfers are processed through American correspondent banks.
This means screening under FATCA, OFAC, and other US regulations.
The risks of sanctions and account freezes are higher compared to working in GBP or EUR.

Restrictions for non-residents
If a company is registered in the UK but its owners are non-residents, the bank will almost certainly require a personal visit from the directors and additional documentation.
A virtual address or a “nominee” setup does not work — a real connection to the country is necessary.

Financial requirements
Minimum balance requirements, higher maintenance fees, and SWIFT transfer charges.
USD transactions are more expensive and take longer to process due to additional checks.

Not for small businesses
Major banks (HSBC, Barclays, Lloyds, NatWest) focus on companies with significant turnover.
For small businesses, it is easier to open a multi-currency account with fintech platforms (Wise, Revolut Business), but this is not a “classic” USD account in a UK bank.

Multi-currency fintech accounts
Wise Business, Revolut Business, and Payoneer allow you to hold balances in USD, receive, and send payments.
These services operate under an EMI (Electronic Money Institution) license, which is reliable, but legally not a “classic bank account” in the UK.
Payoneer has correspondent banks in the US (such as First Century Bank and Community Federal Savings Bank), making USD transfers more convenient and cost-effective.

Best suited for:
Freelancers, IT companies, e-commerce businesses, and companies working with the US and international marketplaces.

Real USD bank accounts in Chinese banks
For companies operating in Asia or with Chinese partners, opening a USD account in a Chinese bank is often easier than in the UK.
Major banks where you can open a corporate USD account include:

• Bank of China (BOC)

• Industrial and Commercial Bank of China (ICBC)

• China Construction Bank (CCB)

• Agricultural Bank of China (ABC)

Chinese banks are accustomed to USD transactions, especially in import/export operations.

Best suited for:
Companies trading with China, Vietnam, India, and other Asian countries.

Full “substance” in the UK
To open a real USD account in a UK bank, a company must demonstrate its presence in the country:

• Having a local director.

• A real office or at least a co-working space.

• Employees on the payroll.

• Active contracts and USD turnover.

This is the most costly option, but it is the one that opens doors to HSBC, Barclays, Lloyds, and other UK banks.

Which solution to choose?

• Fintech (Wise, Revolut, Payoneer) → quick start, suitable for small businesses and online companies.

• Chinese banks → for businesses connected with Asia, exporters, and importers.

• Full substance in the UK → for companies aiming for a long-term presence in the UK and operating through a traditional bank.

The US dollar is not the standard currency in Estonia
The euro is the country’s primary currency and the main currency of the banking system.
A USD account is an additional service that banks provide to clients.

Strict compliance

Banks require detailed disclosure of the company structure (UBO), a business plan, USD contracts, and a description of income sources.

Checks are especially strict for non-residents and companies without a real office in Estonia

Limited access for e-residency companies

E-residency does not guarantee the opening of a USD account.

Most e-residents are refused if their company lacks substance (an office, employees, or tax obligations in Estonia).

Correspondent banks in the US

All USD payments are processed through the American banking system.

This adds FATCA/OFAC checks, increases the risk of freezes, and slows down payment processing.

Financial requirements and fees

USD accounts are more expensive to maintain than euro accounts.

Fees for SWIFT transfers and currency operations are higher.

Risk of refusal for non-residents

Companies with foreign owners and no connection to Estonia are often refused.

Banks focus on local companies conducting real business within the EU.

Substance in Estonia

Appointing a local director, hiring an employee, and renting an office.

Suitable for companies planning a long-term presence in Estonia and conducting real business.

Provides the highest chances of opening a USD account with Swedbank, SEB, or LHV.

Alternative solutions via fintech and Payoneer

Using multi-currency accounts (Wise, Revolut, Payoneer).

Payoneer operates through a network of correspondent banks in the US, UK, UAE, and EU, allowing full USD payments to be sent and received.

Suitable for IT companies, e-commerce, and service businesses where speed and flexibility are important.

Real USD bank account in Chinese banks

Opening a corporate USD account in Bank of China, ICBC, China Construction Bank, or Agricultural Bank of China.

Particularly beneficial for companies working with suppliers and clients in Asia.

Chinese banks readily open USD accounts for exporters and importers.

Substance requirements

Banks in the UAE prefer to work with companies that have a real office, employees, and verified business activity in the region.

A “paper company” without operations in the UAE is almost always refused.

Strict compliance and KYC

Banks require a detailed dossier on beneficiaries: passports, visas, proof of residential address, and tax residency status.

They often request income declarations and bank statements for the past 6–12 months.

Minimum deposit and turnover requirements

For a corporate account, a bank may require 50,000–150,000 AED (≈ 14,000–40,000 USD) as a minimum balance.

If turnover does not match the declared amount, the account may be frozen or closed.

Restrictions for foreign companies

For offshore companies (RAK ICC, JAFZA Offshore), opening a USD account is almost impossible.

Real chances exist for Free Zone or Mainland companies, especially if the business operates in the UAE or Asia.

Lengthy review periods

Document verification can take 1 to 3 months.

The bank has the right to refuse without providing any reason.

For small and medium-sized businesses, it is often easier to use fintech platforms (Wise, Payoneer, Revolut Business), which provide access to USD account details.

For companies genuinely operating in the region, we offer assistance with opening accounts in banks such as Emirates NBD, Mashreq, ADCB, and RAKBANK.

If a client does not have substance in the UAE, alternatives are possible:

• Payoneer correspondent accounts (US, UK, UAE, EU);

• A real USD account in China (suitable for businesses with Asia);

• Or establishing full substance (local director, office, employees).

High compliance and checks

Banks in Hong Kong are known for strict requirements: they review not only the company but also the personal background of the beneficiaries.

Documents proving real business activity are required (contracts, invoices, website, office, employees).

Focus on international business

Banks prefer clients engaged in trade with China and Asia.

If the business is not connected to the region, the likelihood of refusal is higher.

Requirement for personal presence

To open a corporate USD account, the director or shareholder usually needs to be physically present at the bank.

Online account opening is limited and mainly available for local companies.

Minimum deposits and turnover requirements

Some banks require maintaining a balance of 10,000–50,000 HKD (≈ 1,200–6,500 USD).

Small companies with low turnover may face account closure.

Lengthy account opening process

The process can take 1 to 3 months.

Refusal is possible without providing any reason.

For small businesses and IT companies, it is better to use fintech solutions (Payoneer, Airwallex, Wise), which provide USD account details and connections to US/UK banks.

For companies trading in Asia, we can assist in opening accounts in Hong Kong banks: HSBC, Standard Chartered, Bank of China (HK), and Hang Seng Bank.

If there is no substance in Hong Kong, alternatives are possible:

• Payoneer with correspondent banks in the US, UK, UAE, and EU;

• A real USD account in a Chinese bank (suitable for working with suppliers and clients in Asia);

• Establishing substance in Hong Kong (local director, office, employees).

The primary currency is the Polish zloty (PLN)

Polish banks are primarily focused on PLN.

A USD account is opened as a secondary currency account, and not all banks are willing to provide this service to small companies.

Strict compliance and KYC

Full disclosure of beneficiaries, company documents, and sources of funds is required.

For non-residents, banks often request the personal presence of the director or owners.

Business substance requirements

Banks prefer companies with a real office, employees, and proven turnover.

“Virtual” or paper-only companies are usually refused.

Minimum balances and fees

Many banks require a minimum balance (sometimes up to 10,000–20,000 PLN or the equivalent in USD).

Fees for international transfers are higher than for a PLN account.

Challenges for small businesses and e-commerce

It is more difficult for small businesses to pass verification, especially if they do not have a real presence in Poland.

Some banks refuse without providing any reason, particularly for new companies.

Establishing substance in Poland

A real office, local director, and employees.

Provides the highest chances of opening an account in Polish banks (PKO BP, Santander, mBank, Bank Pekao).

Suitable for companies planning a long-term business presence in Poland.

Multi-currency fintech accounts

Wise, Revolut Business, and Payoneer allow holding USD, receiving, and sending payments.

Payoneer uses a network of correspondent banks in the US, UK, and EU, making transfers convenient.

Suitable for IT companies, e-commerce, and service businesses where speed and flexibility are important.

Multi-currency fintech accounts

Wise, Revolut Business, and Payoneer allow holding USD, receiving, and sending payments.

Payoneer uses a network of correspondent banks in the US, UK, and EU, making transfers convenient.

Suitable for IT companies, e-commerce, and service businesses where speed and flexibility are important.

The primary currency is the Bulgarian lev (BGN)

Banks in Bulgaria are primarily focused on BGN and EUR.

A USD account is considered secondary, and not all banks provide it to small companies.

Strict compliance and KYC

Full disclosure of beneficiaries, company documents, and proof of sources of funds is required.

For non-residents, banks often require the personal presence of the director or shareholders.

Fintech platforms (Wise, Revolut Business, Payoneer) allow opening a multi-currency account with USD and making transfers faster and cheaper, although this is not a “classic” bank account.

A real USD account in Bulgarian banks is possible if substance is established: an office, employees, and a local director.

Alternative via foreign banks: USD accounts in Chinese banks or through Payoneer with correspondent banks in the US, UK, and EU.

Strict compliance and KYC

Full disclosure of company structure, beneficiaries, and sources of funds is required.

For non-residents, the personal presence of the director or shareholders is often required.

Business substance requirements

Banks are more willing to open an account for companies with a real office, local employees, and proven turnover.

Companies without a real presence in Lithuania (virtual companies) are more likely to be refused.

Minimum balances and fees

Many banks require a minimum balance (from 5,000–10,000 EUR or the equivalent in USD).

Fees for international USD transfers are higher than for EUR accounts.

Challenges for small and online companies

Startups, e-commerce, and IT companies face stricter requirements.

Refusals without explanation are common, especially for new and non-resident companies.

Fintech platforms (Wise, Revolut Business, Payoneer) provide multi-currency accounts with USD, fast transfers, and convenience, although they are not a “classic” Lithuanian bank.

A real USD account in Lithuanian banks is possible if substance is established: an office, a local director, and employees.

Alternative via foreign banks: USD accounts in Chinese banks or through Payoneer with correspondent banks in the US, UK, and EU.

Please, contact us by phone number +380977777966

We will calculate for you:

• the cost of establishing substance;

• opening a real USD account;

• alternative solutions for your jurisdiction.