The UK's new Register of Overseas Entities goes live on 1 August 2022. This will have significant implications for overseas entities who own, dispose of or acquire a registered or registrable interest in UK land or buildings.
The Economic Crime (Transparency and Enforcement) Act 2022 ("Act") was introduced earlier this year. You can read our previous detailed alert on its impact on UK land ownership for overseas entities here.
Here's a summary of key dates and implications:
The land ownership implications imposed by the Act are significant both for overseas entities and those involved in transactions with them. For further information and to discuss what these measures might mean for you, please get in touch with your usual Baker McKenzie contact.
Please note that the original publication date of this alert is 29 July 2022.
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