I am instructed by the trustees (two UK resident and one resident in Malta) of a UK will trust.
The trustees were advised over the phone by Cater Allen and Barclays earlier in the year that one of the trustees being non-resident would not prevent them opening a trust account. However, the trustees have now had their application rejected by Cater Allen for this reason and have been advised by Barclays that they will not be able to open an account for the same reason.
I should be grateful to hear from any Forum members who are able to recommend any banks who do offer trust accounts in cases where there is at least one non-resident trustee.
For a number of reasons, it is not considered desirable for the non-resident to retire as trustee, and the trustees see this option as a last resort.
Harrison Clark Rickerbys