The Economic Crime (Transparency and Enforcement) Act 2022, which aims to improve transparency of property ownership, set up a register for overseas entities and assist in uncovering potential criminal activity, received Royal Assent on 15 March
Law Society president I Stephanie Boyce said the Act ‘now gives investigators much improved ability to shine a light on who the beneficial owner of a UK property is. We understand the Act needed to be brought in quickly, given the recent events in Ukraine. Further improvements should be possible via implementation of the legislation and related workstreams.’
