A publicly accessible register of beneficial owners of UK real estate will be available from 2021. Non-UK companies and other non-UK legal entities that fail to comply will not be able to transfer legal title to UK real estate held by them, or obtain unrestricted title to UK real estate they purchase; criminal sanctions could also be imposed for failure to comply. Non-UK trusts may be exempt from the requirements, but the extent of any exemption will not be clear until draft legislation is published later this year.

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