- Draft Bill for new register of foreign companies owning UK property
- Original news
- What is the draft Bill about and what is it intended to address?
- What are the key provisions of the Bill?
- To whom does the Bill apply?
- To whom will the register be viewable?
- What are the practical implications of the Bill?
- What impact might it have on real estate transactions and the real estate finance market?
Banking and Finance analysis: The Department for Business, Energy and Industrial Strategy’s (BEIS) draft Registration of Overseas Entities Bill proposes a number of measures which mean overseas companies will have to register in a public register if they want to acquire land in the UK. The proposals are currently out for public consultation. Jonathan Edwards, specialising in company law at Radcliffe Chambers, outlines the BEIS proposals and comments on what the final outputs could look like.
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