From 1 August 2022 overseas entities owning property in the UK must register on a new register of overseas entities (ROE), maintained by Companies House and disclose details of their beneficial owners, which will be publicly available.
Existing property owners will have a 6 month transitional period to 31 January 2023 to register.
Registration will also be required ahead of any new property transactions, as the land registry will not process the change in ownership until they have received evidence of registration.
Any overseas entities who have sold properties since 28 February 2022 are also required to register.
Penalties will apply for non-compliance.