The answer really depends on the complexity of the business, but it should take about 10 working days once the bank has all the necessary information.
In order to open the account, regulation requires a bank to understand who the ultimate beneficiaries of the business are, so a detailed structure chart from the outset is key – this will enable the bank to quickly determine what further information will be required.
There are further regulatory requirements for the bank to identify key officials of the business, source of funding and expected activity – these requirements are in place to prevent money laundering and fraud.