As part of its push on transparency of ownership, the UK Government is planning to create a new register of beneficial ownership information for overseas legal entities in certain situations.
All overseas entities will have to register beneficial ownership information at Companies House and obtain a registration number in order to register in the relevant land register:
(a) new purchases of, or acquisitions of long leasehold interests in, UK property; or
(b) any sale, long lease or mortgage of UK property already owned by the overseas entity.
For further information, please click here to read our more detailed briefing.
On May 15, 2017