Overseas organisations owning UK land must publicly declare true owners
The UK government published a statement on 1 February on the passing of the deadline concerning the new anti-money laundering (AML) obligations that require foreign companies to declare their beneficial owners on the UK’s Register of Overseas Entities. The government states that overseas companies owning UK land who have not complied with the new requirements to register their beneficial owners with Companies House, the deadline of which was 31 January 2023, could now face penalties including prosecution.
The new rules require overseas entities that own or lease land or property long-term in the UK to register with Companies House. The public Register of Overseas Entities, which came into force on 1 August 2022, was introduce...
