Time's running out for registration of overseas entities
17 January 2023
The UK's new regime for the registration of overseas entities requires non-UK entities holding UK land interests ("OEs") to register with Companies House. OEs must register by 31 January 2023 or potentially face strict penalties for non-compliance. OEs would include BVI, Cayman, Guernsey and Jersey entities. For more details, see our briefing here.
Each application for registration must include details of the OE and its registrable beneficial owners (or managing officers) together with a statement from an authorised agent who has verified the information. Collecting the necessary details, notifying beneficial owners and arranging verification takes time and it is critical that OEs take action now to avoid penalties.
BC Verification Limited, a Bedell Cristin company, is authorised to undertake verification and registration on behalf of clients. OEs still needing to register under the new regime should contact us urgently for assistance.