With a new law, the Economic Crime (Transparency and Enforcement) Act 2022, came to effect in March 2022. Overseas entities owning property in the UK will be required to register with Companies house and to identify its beneficial owners, and they will be subject to an annual updating duty (within 14 days of the updating period ). As part of their application, overseas entities will be required to state that they have complied with a duty to take reasonable steps to identify their registrable beneficial owners.
We have been constantly studying the new regulation and be able to provide verification and registration services to our overseas entities customers.