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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Global | Publication | January 2018
The government announced in December 2017 that, as part of its new Anti-corruption Strategy, it will publish a draft bill during the current parliamentary session to establish a public register of the beneficial ownership of overseas legal entities owning, or wanting to buy, property in the UK. It has also just announced that the register will go live by early 2021.
A key driver for the proposed new register is to try to ensure that the UK property market is seen as fair, transparent and clean. On the other hand, the government is conscious of the need to strike the right balance, so that the register does not deter foreign investment in the UK.
Comments on proposals for such a register were invited last year. These included that:
Once in place, the register will supplement the existing “Persons of Significant Control” (PSC) regime which came into effect in the UK on 6 April 2016. This requires certain UK companies (and other legal entities) to keep a register of people with significant control over the company and to record that information at Companies House.
For further information please contact Sian Skerratt-Williams or your usual contact at Norton Rose Fulbright.Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On 21 November 2023 and following extensive consultation periods, the amendment to the Climate Delegated Act (Delegated Regulation (EU) 2021/2139 of 4 June 2021) (the Climate Delegated Act) was formally adopted by the European Commission and published in the EU Official Journal (Delegated Regulation (EU) 2023/2485 of 27 June 2023) (the Climate Delegated Act Amendment).
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