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Register of Overseas Entities: the story so far
It’s been just over a year since the Economic Crime (Transparency and Enforcement) Act was introduced in Parliament and it’s been an incredibly busy year for us at Companies House.
The Register of Overseas Entities came into force on 1 August 2022 following the rapid passage of the legislation through Parliament because of the Russian invasion ofUkraine.
The new register forms a key part of the government’s strategy to tackle global economic crime. It requires overseas entities that own UK property or land to declare their beneficial owners or managing officers. Overseas entities cannot buy, sell, transfer or lease land, or create a charge against the land in the UK unless they’ve registered with Companies House.
Overseas entities in scope who already owned property or land in the UK needed to register within a 6-month transition period, by 31 January 2023.
https://companieshouse.blog.gov.uk/2023/03/07/register-of-overseas-entities-the-story-so-far/