Any overseas entities who want to buy, sell or transfer property or land in the UK, must register with Companies House and tell them who their registrable beneficial owners or managing officers are.
Overseas entities who already own or lease land or property in the UK will also need to register with Companies House and tell us who their registrable beneficial owners or managing officers are by 31 January 2023.
This applies to overseas entities who bought property or land in England and Wales on or after 1 January 1999.
Entities that disposed of property or land after 28 February 2022 will also need to give details of those dispositions.
This process can take up to a month so needs to be factored into the timing of any transaction. This will apply to foreign companies and not foreign directors with a UK registered company. If you think you might be affected by this, give us a call.