14 Aug Overseas Entities
It’s been just over a year since the Economic Crime (Transparency and Enforcement) Act was introduced in Parliament. 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 of Ukraine.
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.
M & N Group, are a UK-regulated agent and are able to register any new overseas entities at Companies House
Each year, the overseas entity must file an update statement within 14 days from the anniversary of the registration date. M & N Group can complete this update statement.