The Register of Overseas Entities came into force in the UK on 1 August 2022 through the new Economic Crime (Transparency and Enforcement) Act 2022.
Overseas entities who want to buy, sell or transfer property or land in the UK, must register with Companies House and notify who their registrable beneficial owners or managing officers are.
This will also apply retrospectively to overseas entities who bought property or land on or after:
- 1 January 1999 in England and Wales
- 8 December 2014 in Scotland
These overseas entities will need to register with Companies House and identify who their registrable beneficial owners or managing officers are by 31 January 2023.