Important Legal Update: The Introduction Of A Public Register For UK Legal Entities

As of 6 April 2016, UK companies are expected to maintain an internal register on those individual and legal entities that have significant control and influence over the company, known as the PSC Register (Persons with Signifant Control Register) and keep it available for inspection. As of 30 June, companies will be required to file information on the PSC Register with the Companies House, which will be publicly available.

Having to maintain yet another statutory register, will require setting up internal processes to ensure that all requirements are met. Nonetheless, the UK will remain an attractive destination for the incorporation of companies due to its stable jurisdiction and effective legal system, which ensures a prompt and fair dispute resolution in case of corporate conflict. In fact, this step to improve transparency on who owns and controls the company, is expected to boost the UK economy ensuring that it is a trusted and fair place to invest and do business.

For more information please see : Important Legal Update : The Introduction of A Public Register For Uk Legal Entities