Non-UK entities which own or hold UK land or property will have to submit information on their beneficial owners or controllers. The accuracy of all information entered into the register will have to be verified with the risk that mistakes can lead to fines or legal action for professional negligence, Ocorian warns.
The financial services group and leading provider of private client, fund, corporate, capital markets, and regulatory and compliance services, says information has to be checked either through submission of documentation directly to Companies House, or by using an Assured Agent appropriately regulated in the UK and supervised under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017.