Real Estate Talking Points: Economic Crime (Transparency and Enforcement) Act 2022 – new register of beneficial owners of overseas entities owning UK property

Prompted by the Russia/Ukraine crisis, the UK Government has fast-tracked the reintroduction of the proposal (originally set out in July 2018) to create a new register of overseas beneficial owners of UK property. The new Economic Crime (Transparency and Enforcement) Act received Royal Assent on 15th March 2022 and is expected to come into force later this summer.

In our latest Talking Points piece, our Real Estate lawyers explain the implications of the new register and the key considerations, including the next steps, overseas investors should take.