1 August 2022
The Economic Crime (Transparency and Enforcement) Act 2022 introduces a new registration regime for overseas entities. Overseas entities which own or acquire UK real estate will need to register on a Register of Overseas Entities at Companies House, disclose their beneficial owners and keep their registration up-to-date. Failure to comply with the new regime carries consequences, including restrictions on the ability of an overseas entity to deal with its UK real estate, which could affect transactions involving, and security over, such real estate.
In this briefing note, we consider the implications of the Act for secured lenders.