News & Analysis as of

Real Estate Market Beneficial Owner

K&L Gates LLP

FinCEN's New Reporting Requirements for Nonfinanced Residential Real Estate Transactions

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Effective 1 December 2025, the Financial Crimes Enforcement Network (FinCEN) will implement comprehensive nationwide regulations aimed at increasing transparency and combating money laundering in the United States residential...more

Harris Beach Murtha PLLC

New Reporting Requirement for Certain Residential Real Estate Transfers

Effective December 1, 2025, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) will implement new rules for non-financed residential real estate transfers. The purpose of the rule is to increase...more

Polsinelli

The Corporate Transparency Act: What Homes Associations and Neighborhood Associations Need to Know

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A new federal law requires homes associations and neighborhood associations to disclose information about persons with control over the association.  Why this matters for you. From Wall Street to Main Street to your...more

A&O Shearman

The Register of Overseas Entities – what the real estate industry needs to know - March 2024

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The Economic Crime (Transparency and Enforcement) Act 2022 requires overseas entities which own, or wish to acquire, certain real estate in the UK to register with Companies House and to provide, and keep up-to-date,...more

Bilzin Sumberg

Enter the Fray: Florida Restricts Certain Foreign Ownership of Real Property

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Lawsuit Against Florida Law Restricting Certain Foreign Ownership of Real Property Set for Hearing This Week, DOJ Supports but 12 States Oppose - On July 1, 2023, SB 264 (Chapter No. 2023-33, Laws of Florida) took effect....more

White & Case LLP

Economic Crime Act – update for overseas entities with interests in UK real estate

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The Economic Crime (Transparency and Enforcement) Act 2022 (the "ECTEA") has been introduced as part of the government’s strategy against overseas criminals who launder money through UK real estate...more

Hogan Lovells

Anti-money laundering: which trusts in the UK real estate sector must register by 1 September 2022?

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Trustees holding UK real estate must generally register the trust with HMRC following the extension of the Trust Registration Service. The TRS was launched in 2017 by the UK government as part of its implementation of the...more

A&O Shearman

Economic Crime Act – what the real estate industry needs to know

A&O Shearman on

The Economic Crime (Transparency and Enforcement) Act 2022 requires overseas entities which own, or wish to acquire, certain real estate in the UK to register with Companies House and to provide, and keep up-to-date,...more

K&L Gates LLP

Real Estate Ownership and the Implications of the Economic Crime (Transparency and Enforcement) Act

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The invasion of Ukraine by Russia has pushed forward a wider government agenda to encourage transparency in relation to how overseas entities own UK real estate. We first reported many years ago on the details of the...more

Ballard Spahr LLP

FinCEN Renews Real Estate GTOs

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As expected, on May 8, 2020, the Financial Crimes Enforcement Network (“FinCEN”) reissued its Geographic Targeting Orders (“GTOs”) requiring U.S. title insurance companies to identify the natural persons behind legal entities...more

Ballard Spahr LLP

FinCEN Renews GTOs

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On November 8, 2019, the Financial Crimes Enforcement Network (“FinCEN”) reissued its Geographic Targeting Orders (“GTOs”) requiring U.S. title insurance companies to identify the natural persons behind legal entities used in...more

Blake, Cassels & Graydon LLP

Transparency is Coming: B.C. Passes Real Estate Beneficial Ownership Disclosure and Public Registry Law

On May 16, 2019, the Land Owner Transparency Act (LOTA), one of the B.C. government’s signature pieces of legislation to address hidden ownership of real estate in B.C., became law. LOTA requires disclosure of individuals who...more

Ballard Spahr LLP

FinCEN Again Extends Real Estate GTOs

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The Financial Crimes Enforcement Network (“FinCEN”) has, once again, extended its Geographic Targeting Order (“GTO”) requiring U.S. title insurance companies to identify the natural persons behind legal entities used in...more

Ballard Spahr LLP

FinCEN Renews Real Estate GTOs: Expanded Geographic Coverage and Reduced Monetary Thresholds

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The Financial Crimes Enforcement Network (“FINCEN”) announced on November 15 that it has renewed and revised its Geographic Targeting Orders (“GTOs”) that require U.S. title insurance companies to identify the natural persons...more

Blake, Cassels & Graydon LLP

Confronting Money Laundering and Terrorist Financing: Canada Considers Vast Changes to AML Regime

The Standing Committee on Finance (Committee) recently released its report, Confronting Money Laundering and Terrorist Financing: Moving Canada Forward (Report), where it makes 32 recommendations on proposed modifications and...more

Foodman CPAs & Advisors

Did you know that GTO’s have a $300,000 Threshold?

A GTO is a Geographic Targeting Order issued by the Financial Crimes Enforcement Network (FinCEN) under the Bank secrecy Act (BSA) for a specific geographic area. ...more

K&L Gates LLP

Overriding Interest Summer 2018

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Welcome to the latest edition of Overriding Interest. Inside this issue: - Implementation of Beneficial Ownership Register for Overseas Owners and Buyers of UK Property Delayed until 2021 - Commercial Real Estate...more

Blake, Cassels & Graydon LLP

B.C. to Crack Down on Hidden Ownership of Real Estate with New Reporting Obligations

On June 20, 2018, the B.C. Ministry of Finance released a white paper on draft legislation that will require reporting on beneficial ownership of land in B.C. The draft legislation, titled the Land Owner Transparency Act...more

Fox Rothschild LLP

FinCEN Quietly Extends Real Estate Geographic Targeting Orders For Another Six Months

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Breaking from its recent practice of making public announcements about Geographic Targeting Orders, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) last month quietly extended its real estate GTOs for...more

Hogan Lovells

Update: public register of beneficial ownership of UK property by overseas entities

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The government has published its response to the April 2017 call for evidence on proposals for a register showing who owns and controls overseas entities that own UK property or participate in UK government procurement. ...more

Hogan Lovells

When will register of beneficial ownership by overseas companies be introduced?

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The government has confirmed to parliament its timetable for the introduction of a public register of beneficial ownership of UK property by overseas entities. This follows on from the government’s consultation in April 2017...more

Fox Rothschild LLP

FinCEN’s Revised GTOs Expand Real Estate Money Laundering Crackdown To Hawaii, Close “Wire Transfer” Loophole

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This article is Part I of a series in which we address the U.S. government’s attempts to combat money laundering in real estate transactions. This week the Treasury Department’s Financial Crimes Enforcement Network...more

K&L Gates LLP

Overriding Interest

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Welcome to the latest edition of Overriding Interest. Inside this issue: - The UK Government Proposes Innovative Transparency Requirements for Overseas Owners and Buyers of UK Property - Mees Update - Announcements,...more

Dorsey & Whitney LLP

UK Real Estate Aims for a “World’s First”

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The Government has published a consultation document, proposing the introduction of a public register that details the identity of the ultimate owners behind foreign companies that purchase real estate in the UK. It is said...more

Hogan Lovells

A move to "glasshouses": Government announces call for evidence on a register of beneficial owners of property controlled by...

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On 5 April 2017, the government launched a call for evidence on a register showing the beneficial ownership of property controlled by overseas companies and other legal entities. This isn’t the first time that these...more

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