Tide limited company formation: eligibility and what you need

Who the service suits

The typical user is a founder or small team setting up a new trading company and wanting banking from day one.

Details needed for each person

Make sure names match identity documents exactly; mismatches are a common cause of failed checks.

• Full legal name and any former names
• Date of birth and nationality
• Occupation
• Residential address and a service address
• Shareholding and voting control, for the people with significant control register

Identity verification

Companies House now requires identity verification for directors and people with significant control, and banks run their own checks too. Have a valid passport or driving licence and a phone camera ready.

Registered office address

Your registered office becomes public. If you would rather not publish your home address, consider a registered office service and read our address privacy guide.

Final checks before applying

Run through these checks so the application goes through first time.

1. 1

   Confirm everyone involved is happy for their details to appear on the public register.

2. 2

   Check Tide's shareholder eligibility rules.

3. 3

   Confirm the company will have one shareholder at formation, as Tide requires.

4. 4

   Pick a SIC code.

5. 5

   Prepare ID for verification.

When another provider may suit better

If you need premium address bundles, corporate ownership, guarantee companies or company secretarial services, specialist formation agents may be more suitable. Our comparison pages show the options side by side.

Who can be a director, and who cannot

Most adults can be a company director. A director must be at least 16 years old and must not be disqualified by a court or listed as an undischarged bankrupt, unless the court has given permission. There is no requirement to be a UK citizen or resident, and there is no qualification needed. Since November 2025 every new director must also verify their identity with Companies House, either directly through GOV.UK One Login or through an authorised corporate service provider.

Being eligible to be a director is not the same as being eligible for a Tide account. Banks and e-money providers run their own customer due diligence, which considers where people live, the nature of the business and the source of funds. A company can be validly incorporated while the account application is declined, so it is worth checking Tide's current account eligibility before you rely on the combined route.

Identity verification in practice

Identity verification has become a standard part of company formation. Each director and each person with significant control needs a verified identity linked to a personal code. If you verify directly with Companies House you will usually use the GOV.UK ID Check app or an online route with photo ID. Formation providers that are authorised corporate service providers can verify on your behalf as part of their process.

The most common delays are mismatched names, such as a middle name on a passport that is missing from the application, poor-quality photos, expired documents and addresses that do not match records. Enter names exactly as they appear on your identity document and use a well-lit, unobstructed photo.

Keep your personal code safe. You will need it for future filings and roles, and it applies across every company you are involved in, not just this one.

1. 1

   Gather an in-date passport, photo driving licence or other accepted photo ID.

2. 2

   Check names on the application match the document exactly, including middle names.

3. 3

   Use a smartphone with a working camera in good light.

4. 4

   Complete each person's verification yourselves; do not do it for a co-director.

5. 5

   Store each personal code securely for future Companies House filings.

The full document and information list

Gathering everything into a single folder before you start means the form takes minutes rather than an evening. The list below covers what Companies House needs plus what account providers commonly ask for. Not every item will be requested every time, but having it ready avoids stalling halfway through.

Special cases: overseas founders, second companies and restricted sectors

Overseas founders can be directors of a UK company and can form one online, but the registered office must still be an appropriate address in the UK. Account opening is the harder part: many UK business accounts expect at least one director to live in the UK. If no director is UK resident, check Tide's current requirements before paying, and consider whether a different bank is a better fit.

If you already have a Tide account for another company, you may still be able to form a new company, but NEW200 is aimed at new customers. Read the eligibility terms before assuming a second company will qualify for the reward.

Some businesses are considered higher risk by financial providers, for example money services, crypto-asset activity, gambling or certain regulated sectors. A Companies House registration does not guarantee any provider will open an account. Where your activity is regulated, you may also need authorisation from a regulator such as the FCA before trading.

If something is rejected or declined

Separate the two outcomes. If Companies House rejects the incorporation, the company does not exist and you fix the issue and resubmit. If the company is incorporated but the account is declined, the company is valid and you simply open an account elsewhere. You still own the company and your obligations to Companies House and HMRC still begin.

Ask for the reason where one can be given, correct any data errors, and keep copies of what was submitted. Do not open multiple applications in quick succession with slightly different details; that can look like an attempt to get around checks.

Common questions

Official sources & further reading

This guide draws on the official guidance below. Rules, fees and individual circumstances can change; check the relevant source before acting.

• Tide company formation offer (NEW200)
• GOV.UK: Set up a private limited company
• GOV.UK: Companies House identity verification

General UK information, primarily for private companies limited by shares. This is not personalised legal, tax or financial advice. An accountant or solicitor can help apply the rules to your situation.