How to Open an Irish Business Bank Account as a Non-Resident 

Key Summary

Many non-resident founders find the process easier when working with a specialist adviser who understands the banks' requirements. For our US and UK clients we open accounts with Bank of Ireland or Revolut Business, and often with both. The account belongs to the company, so neither of the banks needs you to live in Ireland. What both banks do need is a company that is already incorporated, with its beneficial owners entered on the Register of Beneficial Ownership. They also need a board that meets their residency rules.

Can a non-resident open a business bank account in Ireland?

Yes, a non-resident can open a business bank account for an Irish company. The Director, Shareholder and/or Administrator do not need to be resident in Ireland. The bank will want to know about the people behind the company, because Irish anti-money laundering law requires it to identify the company's owners and the people who run it before any money moves.

When it comes to residency, Section 137 of the Companies Act 2014 requires every Irish company to have at least one director resident in the European Economic Area, or a €25,000 Section 137 bond in its place. That is a company law rule the Companies Registration Office applies at incorporation. A bank applies its own residency rules, and a bond that satisfies the CRO may not necessarily satisfy the bank.

We assess all our client’s application before submission, ensuring that all requirements are met where possible. Each bank has its own rules. Bank of Ireland has their own set of requirements, as does Revolut.

Should you open with Bank of Ireland or Revolut?

It’s important to consider the value of each bank account to a company and in some cases both may be relevant to your business activities.

Revolut is the fastest of the two to set up. They aim to review applications within 24 hours, and a straightforward application with the right board is often open within the week. The trade-off is its residency rules, which are stricter than most founders expect and are the main thing US and UK founders need to plan around.

Bank of Ireland takes longer because a limited company can't apply through a self-service form. The bank's own guidance says limited companies arrange a meeting with one of its business advisors, while only sole traders can apply online. For our international clients that meeting has been held by video call. In return you get a relationship with one of Ireland's two pillar banks, which counts when the company later needs credit from a lender who knows it. Our piece on why you need a pillar bank sets out that case in more detail.

Bank of Ireland's Business Startup Account waives transaction and maintenance fees for 24 months, though charges for lodging or withdrawing cash still apply.

When a client needs to receive money quickly, we usually open Revolut first and run the Bank of Ireland application alongside it.

What do you need before you apply for an Irish Bank Account?

There are many prerequisites that need to be in place before starting the process of opening an Irish bank account for your business, and each step depends on the one before it.

1. Incorporate the company and receive the Certificate of Incorporation from the CRO. Revolut's eligibility criteria require a company that is "fully incorporated and active".
2. Obtain identity numbers for the directors. Every director needs an Irish PPS number or, failing that, an Identified Person Number from Form VIF. Our guide to PPS numbers and Form VIF explains which route applies to you.
3. File the beneficial ownership return with the RBO. The law gives a new company five months to do this. Don't wait that long if you want a bank account. Under section 35(3C) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, a bank must confirm the company's beneficial owners are on the register before it establishes the relationship. Section 35(3D) lets a bank open the account first, but no transactions can be carried out until that check is done. We file the RBO return straight after incorporation for this reason.
4. Apply to the bank.

For Bank of Ireland, an Irish-incorporated limited company must provide:

• the original Certificate of Incorporation, and any Certificate of Change of Name
• a copy of the constitution (Memorandum and Articles of Association)
• an original or certified copy of the business name certificate, if you trade under a name other than the company's
• A list of directors and of beneficial owners holding more than 25%
• confirmation of the ultimate beneficial owners behind any corporate shareholder holding 25% or more
• proof of identity and address for the directors and for everyone signing on the account, up to two directors and two signatories
• a FATCA and CRS self-certification for the company
• the company details,
• the corporate structure and
• identity verification for every shareholder with 25% or more, which each person completes in the app.
• Residential address for each director and beneficial owner.

Revolut asks for:

Both Bank of Ireland and Revolut may ask for additional documents during your application. These can include certified or notarised bank statements as proof of source of funds.

What US founders need to know about Opening a Bank Account

Can a US-resident founder open Revolut Business for an Irish company?

Not on their own. Revolut's Irish eligibility page says the person applying must have a legal home address in the UK, Switzerland or the EEA. Its identity verification page adds that at least one director or beneficial owner must reside in the EEA or Switzerland. A company whose directors and owners all live in the US fails both tests.

A Section 137 bond doesn't change that. The bond lets the CRO register a company with no EEA-resident director, but Revolut's rule is about where real people live, and a bond isn't a person. If you want Revolut, the company needs an EEA-resident director, and that director makes the application.

Bank of Ireland publishes no rule of the same kind. Expect closer questions about a board with no presence in Europe, though.

What will the bank ask about FATCA?

Bank of Ireland requires every new business customer to confirm its FATCA classification when the opening the account. If the company is classed as a passive entity, the bank's controlling person form asks for details of each person who controls it, including a US tax identification number for any US person. Reportable information goes to Revenue, which exchanges it with the IRS. Most trading companies are simple to classify, but an incomplete self-certification will hold an application until it is corrected.

Do US directors need to file an FBAR?

Possibly. A US person with a financial interest in, or signature authority over, financial accounts outside the US must file FinCEN Form 114 if the combined value of those accounts exceeded $10,000 at any time in the calendar year. A US director who can sign on the Irish company's account falls within that. The form is due on 15 April, with an automatic extension to 15 October. Your US tax adviser can confirm whether it applies to you, and it is better to know before you're added as a signatory than after.

Where a US founder wants Revolut, we provide or arrange the EEA-resident director the company needs, and we complete the FATCA self-certification with you before the application goes in. If you're relocating as well as incorporating, our guide to moving to Ireland from the US covers the wider picture.

What UK founders need to know

Does a UK-resident director count as EEA-resident?

No. The UK stopped counting as an EEA state for Irish company law purposes on 1 January 2021. A London-resident sole director doesn't meet the Section 137 requirement, so the company needs an EEA-resident director or a Section 137 bond.

Revolut's rules treat a UK founder better than a US one, but only in part. A UK-resident founder can be the applicant, because Revolut accepts a home address in the UK. The company still needs at least one director or beneficial owner living in the EEA or Switzerland, which means a UK-only board can't open Revolut Business for an Irish company, bond or no bond.

Is Bank of Ireland UK the same bank?

No. Bank of Ireland UK serves businesses in Northern Ireland and Great Britain, and its eligibility criteria, which often appear in UK search results, are written for UK businesses. An Irish company banks with Bank of Ireland in the Republic, and that is the application we prepare.

Will HMRC find out about the account?

It depends on how the company is classified. Irish banks collect a tax residence self-certification under the Common Reporting Standard when the account is opened and report reportable accounts to Revenue, which exchanges the information with other tax authorities, HMRC among them. An active trading company that is tax resident in Ireland is not usually reportable to HMRC under CRS. A passive entity with UK-resident controlling persons is, and those persons' details, including their UK tax numbers, are passed on. If the company will be run day to day from the UK, ask your adviser where it is tax resident before you assume the answer.

Many of the UK businesses we work with set up in Ireland to keep selling into the EU after Brexit. Our comparison of forming a company in Ireland vs the UK covers the tax and customs side of that decision.

Why do Irish business bank applications stall or get declined?

Few applications are refused outright. Far more stall because of poor preparation before the application process. The following are some of the main issues encountered:

• The most frequent hold-up is when an RBO filing is left until near its five-month deadline, which holds the bank account back with it.
• Issues with the board structure. It is why a Revolut application from a US-only or UK-only board can't proceed. Because the problem is structural, the fix is a change to the board rather than a better-written application.
• A vague business description in the application. Banks need to understand what the company sells, who pays it and how much money will pass through the account each month. "Consulting" or "e-commerce", with no customers named and no expected volumes, invites a round of follow-up questions, and each round adds days. A one-page summary with sample contracts or invoices usually heads that off.
• Mismatched documents cause most of the resubmissions we see. The company name on the application has to match the CRO record exactly, and the beneficial owners declared to the bank have to match the RBO entry. A director's proof of address must also show the address they've given.
• A company with nothing in Ireland except a registered office is often flagged as an issue. A registered office gives the company an address for official correspondence, but it doesn't show a bank why the company is Irish. Banks are more comfortable when they can see Irish or EU customers, or a director who lives in Ireland. Our article on registered offices in Ireland explains what a registered office does and doesn't do.
• The company's business sector can also rule it out. Revolut won't open accounts for businesses in its unsupported industries, or for legal forms it excludes, such as charities. Traditional banks apply enhanced checks to higher-risk sectors such as crypto assets and gaming, and some decline them altogether.

Almost all of this can be dealt with before the application goes in, which is where we save clients the most time.

How long does it take to open an Irish business bank account?

A typical sequence for a non-resident founder looks like this.

Identity numbers can add time at the start. A director without a PPS number needs an Identified Person Number from Form VIF, and since 30 April 2026 that declaration has to be witnessed in person. Our guide to setting up a company in Ireland has the full incorporation timeline.

Why use Nathan Trust to open your Irish business bank account?

You can apply to both banks yourself, however in our experience this often results in a rejected application. Founders come to us because we have a long running trusted relationship with both banks. We assess all applications prior to submission, ensuring that all requirements are met.

We've opened hundreds of business bank accounts in Ireland for companies owned from abroad, and the work starts before the bank is involved. At incorporation we set up a board that meets the CRO's rules and the bank's, including an EEA-resident director where Revolut is needed. The RBO return goes in as soon as the company exists, so it is never the reason an account sits unused.

For Bank of Ireland, we prepare the application pack and introduce you to the bank. For Revolut, a member of our team can join your onboarding call. In both cases we complete the FATCA and CRS self-certifications with you and write the business description the bank's compliance team will read, with the evidence they will ask for.

Nathan Trust is regulated by Chartered Accountants Ireland and has been advising internationally owned Irish companies since 1999.

Frequently asked questions

Can I open an Irish business bank account without visiting Ireland?

Yes. Revolut Business is opened online. Bank of Ireland requires a meeting with a business advisor for a limited company, and for our international clients that meeting has been held by video call.

Does a Section 137 bond help me open a bank account?

It lets the CRO register the company without an EEA-resident director, which you need before any bank will look at you. It doesn't satisfy Revolut, which requires at least one director or beneficial owner to live in the EEA or Switzerland.

Can I open the bank account before the company is incorporated?

No. Both banks need the Certificate of Incorporation, and Revolut requires the company to be fully incorporated and active. The RBO filing should follow immediately, because a bank can't let the account be used until it has confirmed the beneficial owners on the register.

Will HMRC know about my Irish company's bank account?

Not always. Irish banks report under the Common Reporting Standard to Revenue, which exchanges information with HMRC. An active trading company resident in Ireland is not usually reportable, but a passive company with UK-resident controlling persons is, and their details are passed on.

Do I have to file an FBAR for my Irish company's account?

If you're a US person with signature authority over the account or a financial interest in it, you must file when your foreign accounts together exceed $10,000 at any point in the year. Check the details with your US tax adviser.

Is money in a Revolut Business account protected?

Revolut Business in Ireland is provided by Revolut Bank UAB, which is authorised by the Bank of Lithuania and the European Central Bank and regulated by the Central Bank of Ireland for conduct of business. Eligible deposits are covered by the Lithuanian deposit insurance scheme rather than the Irish one.