There have been a number of significant legal changes within the last year relating to both i) transparency of ownership, and ii) national security.
These new requirements are in addition to the transparency regimes already in place in the UK (such as the Register of People with Significant Control (“PSC”) regime) and are part of the wider landscape of increased corporate governance, transparency, tackling economic crime and protecting national security.
This note provides a brief high-level summary of each new and related regime:
- Register of Persons Holding a Controlled Interest in Lan (“RCI”) (applicable to land in Scotland only)
- Register of Overseas Entities (applicable UK wide)
- Trust Registration Service (applicable UK wide)
- Register of People with Significant Control (applicable UK wide)
- DAC 6 (applicable UK wide)
- National Security and Investment (applicable UK wide)
The provisions of every regime are extensive and how the regimes interact is complex. Please get in touch if you require further information or want to discuss how these requirements might impact your business and/or assets. We have provided contact details at the end of this briefing note.
The briefing note can be viewed here.
Written by
Related News, Insights & Events
HFSS advertising and marketing restrictions in England and Scotland: What you need to know
04/02/2025 - Online webinar
Please join us online for a breakfast briefing that will focus on the forthcoming HFSS advertising and marketing restrictions and the implications of the differing rules across England and Scotland.
Scotland’s first Visitor Levy – How did we get here?
In the coming weeks, the City of Edinburgh Council (“CEC”) is set to introduce Scotland’s first Visitor Levy.
Burness Paull is the first Scottish law firm to become a corporate sponsor of the 93% Club
16/12/2024
Burness Paull has become the first Scottish law firm to support the 93% Club as a corporate sponsor, reinforcing the firm’s commitment to widening access and promoting greater inclusivity.
