Richard Wynne explains how new legislation will impact on overseas entities who own or wants to buy and sell UK property.
Legislation for a new register for overseas entities with UK land or property and their beneficial owners was passed by Parliament on 14 March 2022. It will have huge implications for anybody managing an overseas entity that owns UK property or wants to buy or sell UK property. In turn, it will create complications for anybody in the UK who wants to transact with an overseas entity. The sting in the tail is the reduced transitional period from 18 to six months; and 14 September is now the deadline for overseas entities with UK property to complete their registration requirements.
Download the full article below: