Overseas Entity Renewal
Overseas companies had until February 2023, to declare their beneficial owners and register these with Companies House.
Overseas companies which failed to meet this deadline will now face severe restrictions on their ability to buy and sell property and could risk financial penalties or prosecution.
We urge you to contact us if you are yet to register.
We are an approved Companies House UK Regulated Agent and can complete your Overseas Entity Registration. We have the Companies House agent assurance code for registering overseas entities and can carry out the verification checks.
Overseas Entity Annual Renewal
All entities on the UK Register of Overseas Entities must file an updated statement annually to confirm that the information held by Companies House is correct and up to date and must be filed even if nothing has changed.
Entities registered on the Register of Overseas Entities must file their update statement within a year of the date the overseas entity was originally registered.
The update must be filed no later than 14 days after the due date and must confirm any changes to the overseas entity since its registration.
As an approved Companies House UK Regulated Agent we prepare and file the statement and update all the information shown on the register about the overseas entity and its beneficial owners or managing officers.
| Overseas Entity Renewal fees | |
|---|---|
| Renewal fee | £400 |
| Companies House statement filing fee | £234 |
| Due Diligence on the Beneficial Owner | £140 |
Overseas Entity Removal
Companies House now allow for companies to be removed from the Companies House Overseas Entity register when they have sold the property and no longer want the details on public record.
As an approved Companies House UK Regulated Agent, we can remove your overseas entity from the Companies House register once the compliance check and land registry checks have been carried out.
| Overseas Entity Removal fees | |
|---|---|
| Companies House filing fee | £700 |
| Prepare Overseas Entity removal documents | £300 |
| HMRC Land Registry Search | £40 |
UK Regulated Agent
We are an appointed Companies House UK Regulated Agent and are supervised under the Money Laundering and Transfer of Funds Regulations 2017.
Trusts & Trustees
If any trustees of a trust are registrable beneficial owners, you’ll also need to give information about that trust.
This includes details about the beneficiaries, settlors, grantors, and interested persons. It also includes each person who has ever been a beneficial owner in relation to the overseas entity, by being a trustee of the trust.
Non-Compliance
Where an overseas entity has failed to register, the relevant entity will be unable to:
- Restrictions on buying, selling, transferring & leasing land
- Restrictions on creating a charge against land or property in the UK
- Criminal sanctions
- Fines of up to £2,500 per day
- Possible prison sentence of up to 5 years
These limitations on the ability of an overseas entity to deal with its property are achieved by the HM Land Registry applying a restriction on the title of each registered freehold or leasehold property.