Register of Overseas Entities - Implications for Filings at Companies House

Introduction

The Economic Crime (Transparency and Enforcement) Act received Royal Assent on 15 March 2022. This Act introduced the creation of a register for beneficial owners of overseas entities that own UK property - the ‘Register of Overseas Entities'. With the introduction of this legislation came a six-month transitional period (ending on 31 January 2023) which has now ended.

Now the transitional period has ended, any overseas entities within the scope of the legislation needs to have registered at Companies House, and failure to do so carries significant potential sanctions as it will be a criminal offence for both the entity and any officers to fail to comply (which can result in fines and or imprisonment). There is also an additional practical inability to deal with any registered land the entity owns.

Finally, the Economic Crime and Corporate Transparency Act 2023 received Royal Assent on 26 October 2023 and includes changes to the Register of Overseas Entities legislation.

If you are advising any overseas entities (or beneficial owners of such overseas entities) who are buying, selling or who own property in the UK or who are bidding for public contracts who have yet to register, then this interactive seminar is for you.

You will find out who will be impacted and what information they will need to provide, together with answers to other topical questions surrounding the register.

What You Will Learn

This live and interactive session will cover the following:

• The thinking behind the legislation
• The restrictions that the legislation implements (and details of the relevant secondary legislation)
• The conditions for registration/how to conduct an analysis
• Guidance for both the legal and accountancy sector
• The updating duty (including details of each person who became or ceased to be a registrable beneficial owner)
• Contents of the register
• The verification process
• Consequences of non-compliance
• Amendments to the existing legislation under the Economic Crime and Corporate Transparency Act 2023
• Practical advice throughout

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.