Register of overseas entities – Economic Crime (Transparency and Enforcement) Act 2022

This is a reminder for all notaries that have clients which may be affected by this legislation.

Under the Economic Crime (Transparency and Enforcement) Act 2022 all overseas entities (being a legal entities governed by the law of a country or territory outside the UK) which own or lease property or land in the UK must register beneficial ownership information with Companies House on the Register of Overseas Entities by 31 January 2023. Failure to register in time will be a criminal offence with fines payable of up to £2,500 per day of non-compliance or a five-year prison sentence.