Over 30,000 overseas property owners have registered with the Register of Overseas Entities, a groundbreaking initiative launched at Companies House last year.
The register, a world-first, mandates anonymous foreign owners of UK property to disclose their true identities, setting a global standard for transparency.
Implemented on 1 August 2022, the register aligns with the Government's strategy to combat economic crime while maintaining the attractiveness of the UK for legitimate business investment.
Companies House collaborates with overseas company registries and UK land registries to identify non-compliant entities and started issuing the first financial penalties in July. The enforcement makes it challenging for non-registered overseas entities to sell, lease, or secure charges over their land.
Martin Swain, director of intelligence and law enforcement liaison at Companies House, said:
"Reaching 30,000 registrations is a significant milestone but also a positive sign that the register is achieving its objective of enhancing transparency of ownership of land and property in the UK by foreign entities.
"Our focus remains on continuing to improve the register and rigorously enforcing compliance, so this transparency is maintained and enhanced yet further. We will continue to scrutinise information on the register and will be vigilant in targeting individuals who attempt to avoid transparency."
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