You are required to update or confirm your Oversea company’s details once every 12 months. Companies House will then update your information on the Register of Overseas Entities. The change you must report to Companies House includes the change of details of your overseas company, beneficial owners, and managing officers.
If there is no change, you must confirm this fact as well. Frankly, this filing is almost similar to the filing of a Confirmation Statement for limited companies.
Remember to give your Unique Overseas Entity ID to the Land Registry when you buy, sell, transfer or lease UK land and property. This is because Companies House will not be able to process your transaction without the ID.
You have 14 days after the anniversary of the registration to update the information on the Register of Overseas Entities with Companies House. You must inform Companies House of any change in your overseas company, beneficial owners, and managing officers. For example, change of address for your beneficial owner.
No need to update the information in the Registry of Overseas Entities
Generally, you can apply to remove your overseas company from the Register of Overseas Entities if you are not, or are no longer, a registered owner of land or property in the UK.
The sections of The Economic Crime (Transparency and Enforcement) Act 2022 relating to updates and removal have not yet come into force. For this reason, updates and removal applications can only be made once this happens. If you have any questions, do contact Companies House.
If you require help with registering your overseas company, feel free to contact our accountants.