Overseas entities, beneficial owners and sanctions – England and Wales

From 31 December 2020 new UK sanctions regimes, including travel bans and asset-freezes came fully into force. Without a doubt the war in Ukraine has raised the general awareness of sanctions. Of special interest to both letting and estate agents will be the regime of asset-freezes which can apply to persons or entities under financial sanctions. More recently the Economic Crime (Transparency and Enforcement) Act 2022 (the Act), received Royal Assent in March, however, Part 1 of the Act ‘Registration of overseas entities’ is currently marked as ‘prospective’ and so is not yet in force. One of the requirements of ...