UK real estate & the Register of Foreign Owners: New registration requirements, explained
As a transparency measure, the Government is set to introduce a Register of People with Significant Control over Overseas Companies owning UK real estate. Ronnie Myers of Burges Salmon and Michelle Cartwright of John Lamb Hill Oldridge explain how to navigate the new rules, which are due to come into force this year.
Ronnie is a senior associate in the private client team at Burges Salmon, specialising in the provision of tax advice to high net worth and ultra-high net worth international individuals, financial institutions and international trust companies. He advises individuals who are UK resident, but not UK domiciled and non-UK resident individuals on a variety of areas including: personal taxation taxation and planning in relation to trusts succession planning and high value UK real estate structuring and taxation.
What to read next
What real impact would a public register of beneficial owners have on the UK property sector?
The new draft Bill promises more transparency in the UK property industry, but will it cause headaches for estate agents, solicitors and developers - and will it put off overseas investors?
By PrimeResi
‘There will be nowhere to hide’: Government fast-tracks Economic Crime Bill & register of overseas property owners
"Time is up for Putin's cronies hiding dirty money in the UK and this new legislation will help to crack down on economic crime, including removing key barriers to using Unexplained Wealth Orders," says…
Overseas Entities: The real estate effect
The effects of the Economic Crime Act will be felt far and wide across the UK real estate industry, writes Nathan Rees.
By Nathan Rees
Companies in this article
Burges SalmonMost read
New platform opens door to distressed property deals
Exclusive: Receiv-r promises an early heads-up on property and land opps - and already has a big-name brokerage on board.
Property billionaire swaps Holland Park for Monaco
David Reuben becomes the latest big name to leave the UK, joining a Monaco set now controlling some £77bn of Rich List wealth.
Guardian: Why are London mansions struggling to sell?
LonRes chief says there is some ‘unbelievably good value’ in the capital's prime neighbourhoods - but warns the market has yet to find its floor.
Grand Registry: Surveying the latest big-ticket deals to hit the official record
Land Registry data reveals a telling resale at one of Kensington’s most prestigious schemes, alongside a clutch of eight-figure deals across the capital.
Record transfer window kicks off super-prime rental bonanza
Savills handled more than 20 player and manager relocations over the summer, including a string of deals in Cheshire at more than £30k a month.
London Square owner racks up £1bn-worth of Abu Dhabi sales in a week
International buyers drive bumper sales tally for Aldar across two waterfront launches.
By PrimeResi
RFR brings in super-prime specialist as MD
Former Knight Frank partner joins Chelsea-based buying firm.
Super-prime London scheme lands double win at global branded residence awards
Raffles-branded project takes European and urban titles at inaugural awards programme for booming sector.
Forbes-backed brokerage adds another big name to PCL line-up
Latest Founder Partner brings nearly four decades of top-end agency experience to Martin Bikhit’s new venture.
Weekly Showcase: Ten featured prime resi listings
PrimeResi's regular stock check, powered by LonRes
LATEST ARTICLES
Inside St John’s Wood Square: Sales launch at ‘once-in-a-generation’ super-prime project
Portia Fox-designed show apartment unveiled as long-awaited transformation of historic NW8 barracks site hits the market, with pricing revealed for the first time.
Savills makes Alpine move as agency battle for ski markets heats up
Latest tie-up in Megève follows recent expansion drives by Knight Frank and Douglas Elliman in the French Alps.
Tories pledge to take family homes out of inheritance tax
Badenoch adds another big-ticket property tax promise to conference agenda, alongside plans to scrap Stamp Duty and Labour’s incoming ‘mansion tax’.
Ultra-prime branded Miami scheme breaks ground after $1.7bn sales haul
Swire's biggest luxury residential project to date is on track to complete in 2030.
By PrimeResi
£2mn Cotswolds site comes with consent for 11,000 sq ft ‘energy-positive’ home
In Pictures: The ten-acre plot is 'a dream in the making,' declares Charlie Willis of Forbes Global Properties.
By PrimeResi