The Register of Foreign Organizations in the UK came into force on August 1, 2022

Foreign organizations planning to buy, sell or lease real estate or land in the UK are required to register with the Registration Chamber and submit reliable information about the foreign legal entity, all registered beneficial owners, if:

• ownership exceeds 25%

or

• if the beneficiary has the authority to directly or indirectly appoint, remove members of the board of directors of the organization,
• exercises significant influence or control over the organization

These requirements also apply to foreign organizations that have acquired real estate or land after the following dates:

• January 1, 1999 in England and Wales;
• December 8, 2014 in Scotland;
• August 1, 2022 in Northern Ireland.

When selling real estate or land after February 28, 2022, foreign organizations will also have to register and provide detailed information about this alienation.

Information about organizations and their beneficial owners must be submitted to the Registration Chamber no later than January 31, 2023

Failure to provide information entails a fine of up to 2,500 pounds, as well as imprisonment for up to 5 years.

Contact O2Consulting for help with submitting and filling out the necessary forms.