With the registration deadline of 31st January fast approaching, we note that there are only just over 10,000 entities currently registered out of an estimated 33,000 that are required to register.
We would like to advise anyone who is required to register their entity to the Register of Overseas Entities that they do so as soon as possible. We are concerned that entities that leave it to the last minute to register may not be registered before the deadline, given the verification process can become protracted, particularly in certain jurisdictions, together with the increasing demand for registration that we are currently experiencing.
The cost of the service is £400 plus vat (vat will be zero-rated if we are invoicing a company outside of the UK) per registration which will include verification and the Companies House registration fee. If we are unable to obtain the necessary verification documentation and consequently are unable to register the ROE, there will be an administration charge of £200 plus vat. However, if subsequently we are provided with admissible verification documentation, then the £200 plus vat will be deducted from our fees leaving a balance payable of £200 plus vat.
The timescale will vary depending on how long it takes us to obtain verification documents etc. However, once we’ve carried out the verification to our satisfaction, the registration process with Companies House is currently taking around 2 working days.
Please see the Register of Overseas Entities form, which you can use to provide us with the initial details should you wish to utilise the service. Please also provide the name and address of the company to be invoiced, including the email address and any reference number you may require.
As the deadline of 31st January 2023 is now fast approaching, here are some tips to help speed things along:
· We have a trust form available. If your organisation also includes a trust, please get in touch to receive it, complete it and return it.
· If you have a trust, please forward a copy of the trust deed, and any amendments
· If your company is registered in a jurisdiction where we can’t view the details of ownership on the public register, for example, BVI, Panama, Isle of Man (if the company number ends in a V), we will need you to send us copies of the certificate of incorporation or incumbency, the register of members or share certificates
· If you are using a nominee shareholder, please forward a copy of the declaration of trust
· All the documents provided will need to be certified independently. You may prefer to send them to us first to review, and then we can advise exactly which documents are required for our purposes and need certifying.
Please do not hesitate to get in touch should you have any questions or to be sent the trust form.