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Introducing the new register of overseas entities

The Register of Overseas Entities came into force in the UK on 1 August 2022 through the new Economic Crime (Transparency and Enforcement) Act 2022.

Held by Companies House the new register requires overseas entities (OE) that own land or property in the UK to declare their ultimate owner (sometimes called beneficial owners) and/or managing officers.

Failure to register is a criminal offence and could lead to strict sanctions including restrictions on buying, selling, transferring, leasing or charging their land or property in the UK.

Existing property holdings

Overseas entities who already own or lease land or property in the UK have until the 31st January 2023 to register with Companies House or risk sanctions for noncompliance.

What is an OE?

An OE includes a company or organisation governed by the law of a country or territory outside the UK, which is the registered owner of:

  • A UK freehold estate, or
  • a UK lease granted for a term of more than seven years on or after 1 January 1999.

This means that property in Ireland or on the Channel Islands or the Isle of Man will need to be registered.

How to register?

Details of the OE’s ownership need to be registered at Company House and after registration Companies House will issue the overseas entity with an OE ID.

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