The Economic Crime (Transparency and Enforcement) Act 2022 has barely been out of the legal headlines since it came into force earlier this year. This act created a new register that documents the beneficial ownership of overseas entities owning or leasing property in the UK. Overseas entities have less than six months within which to register, or risk fines, or prison, for failure to do so. An overseas entity buying or charging land in the UK will need an identity number to register title or perfect the charge, within only a few weeks. If you are an overseas entity, you might already have received a letter from Companies House explaining the importance of registration. For more information, key deadlines and information on the verification process, download our article here.
