UK Places Restrictions on Foreign Owners' Properties

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The UK have recently drafted a mock Registration of Overseas Entities Bill which has attracted the interest of some commentators. The Bill forces those living abroad owning property in the UK & Wales to enlist their Beneficial Owners at Companies House for an open investigation.

The debate specifically concerns entities abroad that don’t agree won’t have the capacity to dispose of their property or acquire loans on it, on the grounds that the Land Registry will enter a limitation on the property enlist restricting enrolment of a charge except if compliance is reported at the Companies House.