Authorised Corporate Service Provider: What you need to know ahead of Royal Assent
The Economic Crime and Corporate Transparency Bill 2022 (‘the Bill’) is upcoming legislation designed to tackle money laundering and strengthen the UKs company registrar, known as Companies House. This is a follow on from the Economic Crime Transparency and Enforcement Act 2022, which saw the implementation of the Register of Overseas Entities for those entities holding UK land or property.
The Bill is expected to introduce an identity verification requirement for:
- all new and existing company directors,
- People with Significant Control, and
- those delivering documents to Companies House UK.
Filing requirements for limited partnerships and limited liability partnerships will also be reformed under the Bill, with part of that reform being that partners will also require verification at Companies House.
To help facilitate verification, the Bill will introduce the new role of the Authorised Corporate Service Provider (‘ACSP’).
Building on our success as one of the top ten verification agents in the country for the Register of Overseas Entities, Langham Hall intends to become an ACSP and will be able to assist clients with fulfilling these new verification requirement.
The Bill is expected to receive Royal Assent within the next month and detailed guidance should be issued shortly after that.
If you wish to discuss the requirements and how Langham Hall can assist you please do not hesitate to get in contact: LHACSPServices@langhamhall.com