Cross-border settlement for precious metals and bullion dealers with a UK limited company

First, we map your group structure and the settlement corridors you need, whether for paying international suppliers or moving revenue between related entities. We identify the types of institutions, such as EEA-licensed EMIs or international banks, that are suitable for each corridor.

Our team then reviews your intercompany agreements and flow documentation to ensure they are ready for bank review. We ensure the rationale for each transfer is clearly stated. Finally, we introduce your UK company to appropriate financial institutions on both sides of each corridor to establish the settlement accounts. We also help monitor ongoing flows to pre-empt compliance reviews that could otherwise freeze funds.

Compliance teams focus on the legitimacy of the flows. They will scrutinise your group's ownership chart and any intercompany agreements to understand how the UK entity fits. For each settlement corridor, they need to see a clear commercial rationale. They will verify the tax residency of each entity involved in the transfers.

Underwriters also assess transaction patterns, including expected volumes, frequency, and the jurisdictions of your end counterparties. They need to be confident that the activity matches your stated business model. Finally, they will check your dealer registrations and AML policies to ensure you are compliant in your operating markets. We ensure all these elements are documented clearly in the application file.

Using a UK limited company provides access to a strong financial ecosystem, including many FCA-authorised EMIs that are comfortable with international business. The primary currencies are GBP, EUR, and USD. While incorporation is fast, providers will verify the identity of all directors and persons with significant control (PSCs). UK banks and EMIs will look closely at where the company's management and control is physically located, and expect it to align with the company's registration.

Compared to some other jurisdictions like Cyprus, the UK has a very deep and competitive market for payment services, though traditional high street banks remain conservative with non-resident directors and sectors they deem high-risk, like precious metals.

Applications are often rejected due to an unclear business model or poorly documented fund flows. If a bank cannot understand why you are moving money between specific entities or jurisdictions, they will decline the relationship. Another major red flag is a perceived mismatch between the company's registration in the UK and where its actual management is based.

Accounts may also be closed if the transaction activity does not match the initial projections or if the source of the metals is not verifiable. Our process prevents this by creating a detailed file that clearly explains your group structure, the purpose of each payment corridor, and the commercial logic from the start, setting clear expectations with the provider.

For a UK-based bullion dealer, establishing a single cross-border settlement corridor typically takes 3 to 8 weeks. This includes preparing the documentation, making the introductions, and completing the onboarding with institutions at both ends of the corridor. The exact timeline depends on the complexity of your structure and the specific jurisdictions involved.

Once live, the key to keeping accounts operational is proactive communication with your providers. This includes providing advance notice of any significant changes to your business model or transaction patterns. Consistent, transparent reporting helps build trust and ensures your settlement capabilities remain stable as your business grows.