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United Kingdom › Property Owners › Beneficial Owner

K&L Gates LLP

The Latest OFSI Property and Related Services Threat Assessment

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The United Kingdom’s Office of Financial Sanctions Implementation (OFSI) has published a report detailing suspected breaches of UK financial sanctions involving UK property and related services firms since February 2022 and...more

K&L Gates LLP

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

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On 2 August 2023, the Register of Overseas Entities (ROE) update process went live. UK Companies House issued guidance on the requirements overseas entities will have to adhere to in their annual update of the ROE. Our...more

BCLP

JPUTs may now need to be registered under the trust registration service

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Some of the most commonly used trust structures in UK real estate ownership are Jersey Property Unit Trusts (JPUTs). It has become clear recently, following confirmation from HMRC, and HMRC now changing its published...more

Hogan Lovells

The clock is ticking: UK Economic Crime Act 2022

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The transitional period for the Economic Crime (Transparency and Enforcement) Act 2022 will end on 31 January. This is in eleven days’ time. Read on to find out what this means in practice for overseas entities dealing with...more

Conyers

New Registration Requirement for Cayman Entities That Own Property in the UK

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On 1 August 2022, a new Register of Overseas Entities came into force in the UK pursuant to the Economic Crime (Transparency and Enforcement) Act 2022 (the “ECA”). Overseas entities are entities with legal personality,...more

Cadwalader, Wickersham & Taft LLP

Action Required August 2022: Economic Crime (Transparency and Enforcement) Act 2022 – Register of Entities

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The Economic Crime (Transparency and Enforcement) Act 2022 (the “ECA”) came into force on 1 August 2022 and places new obligations on overseas entities holding real estate in the United Kingdom. Pursuant to the ECA, all...more

Hogan Lovells

Ready, Steady, Register: New UK beneficial ownership register

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The Economic Crime Act, which received Royal Assent on 15 March 2022, will require overseas entities that are owners or leaseholders of land in the UK to register at Companies House and provide information about their...more

Morrison & Foerster LLP

Register of Overseas Entities Owning UK Property – Key Requirements

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Executive Summary: the 30-second brief- The enactment of the Economic Crime (Transparency and Enforcement) Act 2022 means that clients will need to review their property portfolio. Where overseas entities are the...more

Goodwin

UK Government Seeking to Introduce a Register of Overseas Entities

Goodwin on

As part of the UK government initiative to clamp down on criminals using UK property to launder their ill-gotten gains, the government is introducing some sweeping disclosure requirements in the form of a ‘Register of...more

K&L Gates LLP

Foreign Ownership of UK Real Estate Under Scrutiny

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The UK Government has recently introduced the Economic Crime (Transparency and Enforcement) Bill 2022 (the Bill). Amongst other objectives, the Bill proposes the setting up of a register of overseas entities and their...more

Hogan Lovells

UK Government endorses transparency of overseas real estate ownership

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As long ago as 2015, then Prime Minister David Cameron announced his determination to tackle “dirty money” in UK property. A lot of water has flowed under the political bridge since then but the invasion of Ukraine by Russian...more

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