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Beneficial Ownership Registration for Overseas Entities Holding UK Real Property

Are your overseas entities intending to acquire or dispose of UK property? Get assistance identifying registrable beneficial owners and much more. Skip the guesswork and trust Cogency Global’s international compliance team to help.

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Keeping You Compliant Across the UK

The Economic Crime (Transparency and Enforcement) Act 2022 mandates that foreign companies possessing land or property in the UK disclose their managing executives and/or beneficial owners.

The beneficial owner is an individual person, other legal entity, government or public authority that holds, directly or indirectly, 25% of shares or voting rights. The beneficial owner may also have the right to appoint a majority of directors or exercise significant influence over the company.

Overseas Entities (OEs) who buy, sell or transfer property or land in the UK must register with Companies House and inform them who their registrable beneficial owners or managing officers are.

This law also applies retroactively to OEs who bought land or property:

  1. In England and Wales on or after January 1, 1999;
  2. In Scotland on or after December 8, 2014; and
  3. In Northern Ireland on or after August 1, 2022.

Those who do not comply may face penalties, such as limiting their ability to purchase, sell, transfer, lease or charge their land or other property in the UK. That’s where Cogency Global can help.

What to Expect From Cogency Global

UK Real Property Beneficial Ownership services from Cogency Global generally include:

  • Assist OEs in registering their branch in the UK.
  • Act as the address for service of process for the OE in the UK.
  • Assist OEs intending to acquire/dispose of UK property to identify registrable beneficial owners.
  • Collect registrable beneficial ownership information from OEs and update the information annually.
  • Act as the “relevant person” for verifying the ownership information (need to register and obtain an agent assurance code).
  • Conduct MLR and sanctions checks as required under the legislation.
  • Register with Companies House and obtain entity ID for UK property acquisition.
  • Act as the address for service of process for the beneficial owners in the UK (individuals and entities).

 

Don’t let complex reporting requirements intimidate you. Trust Cogency Global and our years of experience dealing with foreign processes, including apostille and document authentication. Contact us for guidance.

What UK Real Property Beneficial Ownership Can Help With

When adapting your business or organisation to new foreign legislation, you need attentive support tailored to your needs. At Cogency Global, we have an impressive network of industry professionals and highly personalised client service to put your mind at ease.

Responsive and Personalised Service

You always have a direct line to your Client Service Specialist. We respond to you personally and quickly, giving you the peace of mind your corporate documents are in the right hands.

Cross-Disciplinary Capabilities

Cogency Global can support your corporate services needs and so much more, simplifying your registrations, deals and filings.

Decades of Experience

The Cogency Global team is passionate and experienced at what we do, giving you access to decades of knowledge and problem-solving skills.

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Contact Us

When you reach out to Cogency Global, you will always get a response from a real person. Connect with us today. We are ready to answer your questions.

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Our commitment to excellence results in better compliance and the timely completion of your deals. We provide precisely what you need. No more, no less, every time.

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