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Real Estate Investments › Regulatory Requirements › Beneficial Owner

Vinson & Elkins LLP

Considerations for REITs, their Subsidiaries, and Other Real Estate Companies under the Corporate Transparency Act

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The Corporate Transparency Act (the “CTA”), a new federal law, went into effect on January 1, 2024. The CTA requires that certain entities file Beneficial Ownership Information Reports (“BOI Reports”) with the Financial...more

Cadwalader, Wickersham & Taft LLP

FinCEN's Proposed Streamlined SAR -- The Real Estate Report

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On February 16, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued a proposed rule addressing “Anti-Money Laundering Regulations for Residential Real Estate Transfers.” The proposed rule would, among other...more

Morrison & Foerster LLP

Who Owns and Controls Your Real Estate Entity? FinCEN Wants to Know, and its Final Rule is now in Effect

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This client alert is an update to an earlier MoFo client alert issued on December 8, 2022. In a final rule implementing the Corporate Transparency Act (the “Final Rule”), the Financial Crimes Enforcement Network (“FinCEN”)...more

Bilzin Sumberg

Enter the Fray: Florida Restricts Certain Foreign Ownership of Real Property

Bilzin Sumberg on

Lawsuit Against Florida Law Restricting Certain Foreign Ownership of Real Property Set for Hearing This Week, DOJ Supports but 12 States Oppose - On July 1, 2023, SB 264 (Chapter No. 2023-33, Laws of Florida) took effect....more

Cadwalader, Wickersham & Taft LLP

Action Required August 2022: Economic Crime (Transparency and Enforcement) Act 2022 – Register of Entities

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The Economic Crime (Transparency and Enforcement) Act 2022 (the “ECA”) came into force on 1 August 2022 and places new obligations on overseas entities holding real estate in the United Kingdom. Pursuant to the ECA, all...more

Dechert LLP

Register of Overseas Entities Comes into Force – are you ready?

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Earlier this year Dechert reported on the new Register of Overseas Entities ("ROE"), introduced in March as Part 1 of the Economic Crime (Transparency and Enforcement) Bill (the "Bill"). The Bill was enacted on 15 March 2022,...more

Latham & Watkins LLP

New Disclosure Requirements Imposed on Overseas Entities Holding UK Property

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A new Register of Overseas Entities, expected this summer, requires disclosure of beneficial owners. The UK government has introduced legislation1 in Parliament to pave the way for the launch of the new Register of...more

Proskauer Rose LLP

United Kingdom Legislates Against Opaque Overseas Ownership of Property

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With sanction regimes taking centre-stage in the global response to the Russian invasion of Ukraine, transparency of property ownership has accelerated to become a priority of the United Kingdom’s government. On 15 March...more

Dechert LLP

Foreign Land Owners Come into the Light…UK Government introduces new “Register of Overseas Entities”

Dechert LLP on

On 1 March the Home Office introduced the Economic Crime (Transparency and Enforcement) Bill (the "Bill"). The most significant change, introduced in Part 1 of the Bill, is the creation of a new, public "Register of Overseas...more

Ballard Spahr LLP

FinCEN Renews Real Estate GTOs: Expanded Geographic Coverage and Reduced Monetary Thresholds

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The Financial Crimes Enforcement Network (“FINCEN”) announced on November 15 that it has renewed and revised its Geographic Targeting Orders (“GTOs”) that require U.S. title insurance companies to identify the natural persons...more

Hogan Lovells

Whose property is it anyway? Government publishes plans for beneficial ownership register

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Draft legislation to implement the government’s proposals for a “beneficial ownership register” has finally been published and the government is seeking views on the detail. The Registration of Overseas Entities Bill follows...more

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