This is a new Companies House register launched on 1st August 2022 following the passing of the Economic Crime (Transparency and Enforcement) Act 2022. It requires any overseas entity that owns property in the UK to register itself with Companies House.

The law states that before an overseas entity can be registered, a UK-regulated agent must complete verification checks on all its beneficial owners and managing officers. The agent must submit its agent assurance code and an overseas entity verification checks statement as part of the registration process. ProSec are registered authorised agents which is why we are offering to complete the registration on your behalf.

The registration is quite quick - often 24 - 48hrs and sometimes the same day. However, identifying the beneficial owners, serving the s12 notice and completing the ID checks takes time and has to be completed before the registration is submitted.

Once the beneficial owners and/or managing officers have been identified, ProSec will send them a link to upload their ID documents (passport and proof of address within the last 3 months) and other relevant information. The information is then verified and we can proceed with the registration.

A s12 notice is a letter that needs to be sent by the overseas entity to its beneficial owners before the registration asking the beneficial owners to confirm their status. ProSec cannot serve the notice for you, but we can provide the wording for the letter to ensure it complies with the law.

Yes. Every year the ID verification checks need to be repeated. ProSec can do this for you for an additional fee. We will contact you 6 weeks before the deadline and start the update process.

We also offer bespoke services including digitising your company registers; creating board minutes, shareholder resolutions, share certificates, articles of association, a cap table and shareholder agreements; dissolving your company; VAT registration; data protection registration with the ICO; being your agent for service of process and nominee/trust arrangements, registering your company on the Register of Overseas Entities or just running a CoSec MOT to check whether everything is in order. If you need any of these services, please Contact Us for a quote.