Blog

How to Choose the Ideal Country to Open a Bank Account for High-Risk Businesses

Illustration of a businessman pointing to a screen with financial and security icons, London skyline in the background, representing banking strategy for high-risk companies

Opening a bank account for high-risk businesses can be challenging, especially when dealing with regulatory scrutiny and financial restrictions. Choosing the ideal country to open a bank account for high-risk businesses is a critical step that can determine the long-term success and operational stability of your company.

What Makes a Business “High-Risk” in the Eyes of a Bank?

High-risk businesses are companies that operate in industries flagged for increased financial or legal risk. These may include adult entertainment, online gambling, crypto services, CBD, forex, and more. Banks often evaluate risks based on regulatory compliance, chargeback rates, and reputational concerns.

Why Is Choosing the Right Country So Important?

Some countries are more receptive to high-risk sectors and have developed banking infrastructures or licensing options specifically for them. The choice of jurisdiction affects:

  • Account approval rates
  • Compliance complexity
  • Transaction costs
  • International reputation

Which Countries Are Most Common for High-Risk Banking?

Country Pros Cons
United Kingdom Strong financial system, EMI options, fintech-friendly Strict compliance, high rejection rate
Lithuania Fast EMI licensing, EU IBANs, low cost Limited traditional banks
Malta Crypto and gaming hub, EU access Regulatory delays, slow onboarding
UAE Favourable for crypto, privacy-focused Complex local presence rules
Cyprus Active in FX and gaming sectors Higher perceived risk by EU banks

How Do You Compare Jurisdictions Effectively?

Consider the following factors:

  • Speed of onboarding
  • Type of bank (EMI, PSP, or traditional)
  • Local substance requirements
  • FX and multi-currency support
  • Political and economic stability

Case Example: Opening a UK EMI Account from Abroad

Many high-risk businesses consider the UK for its EMI (Electronic Money Institution) options. For example, an adult subscription platform from Spain managed to open a UK EMI account by working with a specialised compliance firm and preparing enhanced KYC/AML documentation. The process took 3 weeks.

Is the UK Still a Viable Option Post-Brexit?

Yes, but only if you are prepared. UK banks and EMIs have tightened compliance, especially for foreign businesses. However, the UK remains a top jurisdiction due to its fintech leadership and regulatory transparency.

At RiskLink, we turn complexity into opportunity. With over two decades of expertise and a strong network of banking partners, we help high-risk businesses navigate the post-Brexit regulatory landscape with confidence. Our tailored approach ensures your company meets compliance standards while securing the right banking solution in one of the world’s most reputable financial hubs.

Final Tips for High-Risk Companies Looking to Open a Bank Account

  • Work with specialised consultants or banking intermediaries
  • Always prepare enhanced due diligence packs
  • Be transparent about your business model and sector

Where Can I Get Help?

If you’re unsure where to start, our team at RiskLink can guide you through the process of selecting the best jurisdiction and opening a compliant bank account.

Also check the FCA official site for the latest list of registered EMIs and banking regulations.

Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. RiskLink assumes no responsibility or liability for any errors or omissions in the content. All information is provided “as is” and without warranties of any kind. Readers should seek independent professional advice before making any decisions based on the information provided. RiskLink is not liable for any actions taken based on the content of this blog.

Picture of Risk Link Team
Risk Link Team

Empowering High-Risk Enterprises for Success - Risk Link: Your Trusted Banking Partners in Secure Solutions.

How to Choose the Ideal Country to Open a Bank Account for High-Risk Businesses: Table of Contents

Share

Leave a Reply

Your email address will not be published. Required fields are marked *