The United Kingdom has mandated foreigners or overseas entities that own land or property to declare beneficial owners and/or managing officers.
The law, which took effect on August 1, 2022, also made provisions for “severe sanctions” for those who do not comply, including restrictions on buying, selling, transferring, leasing or charging their land or property in the UK. “This applies to overseas entities who bought property or land on or after: 1 January 1999 in England and Wales, 8 December 2014 in Scotland,” the UK government said.
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