Do you own a UK property in an overseas entity? If so – BBK is ready to assist you!

What is the Register of Overseas Entities?
The Register of Overseas Entities (“the Register”) recently came into force in the UK on the 1st August 2022. If your overseas entity(ties) owns UK land or property, then this will affect you.

BBK Partnership can assist you with all requirements in relation to “the Register”.

The service we provide is comprehensive and tailored to meet your specific needs. Our advice will include, and is not limited to:

1. Identification and verification of the required beneficial owner information for the overseas entity
2. Registration with Companies House in the UK (subsequent to successful verification)
3. UK Legal advice, where required, and/or complex cases
4. Annual filing and update of “the Register” in subsequent years.

Frequently Asked Questions

When is the Registration deadline?
The deadline for all in-scope overseas entities to complete registration with Companies House is the 31st January 2023.

What are the penalties for not registering?
Failure to register may result in severe sanctions, including restrictions on buying, selling, transferring, leasing or charging their land or property in the UK.

What should you do next?
In the coming weeks, all overseas entities are required to complete the following in order to be compliant:

• Identify their registrable beneficial owners
• Prepare and provide the required information
• Verify the required information
• Submit the required information to the UK Companies House.

Should you have any further queries regarding “the Register”, or are unsure as to whether this applies to you, please do not hesitate to contact us via telephone or e-mail.