Your overseas entity verification checks are compulsory in order to register to be added to the Register of Overseas Entities. You require these checks to get your Overseas Entity ID if you want to buy, sell, transfer or lease UK land and property.
Overseas entity verification checks on beneficial owners
Your verification checks must be conducted by A UK-regulated agent. Your agent will verify all beneficial owners and managing officers of your overseas entity.
Approved UK agent
For this purpose, you must use an agent who is already registered with Companies House. An agent who is registered with Companies House has an Agent assurance code for this sort of work.
In brief, Companies House will need your agent to provide their agent assurance code and a statement to confirm your overseas entity verification checks have been completed. On the same note, it must be completed no more than 3 months before the overseas entity is registered.
You cannot use an agent who is based outside the UK for this purpose. Your agent must be based in the UK and supervised under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. They can be an individual or a corporate entity, such as a financial institution or legal professional.