Introduction of New Identity Verification Rules for UK Companies

The UK government has introduced new identity verification rules for directors and owners of companies registered in the United Kingdom. These rules, set to be enforced shortly, will impact both existing and newly formed UK companies.

Scope of the New Rules

The new rules will apply to directors and owners of UK-registered companies, companies operating overseas but registered with Companies House, new and existing companies, members and partners of LLPs and limited partnerships, and service providers filing with the Registrar.

Verification Process for Directors and Owners

Under the new rules, directors and owners will be required to verify their identities at Companies House. This process is likely to involve using a primary photo identity document, such as a passport or driving license, which will be checked against government databases.

Requirements for Registered Office Addresses

Companies will need an appropriate address for their registered office that can receive documents. This address must be able to acknowledge receipt of documents from authorized persons, and overseas businesses must have an employee permanently based at their office to meet these requirements.

Regulations for Companies and LLPs Acting as Directors

Companies or LLPs acting as directors can register under the new rules if all their directors/members have completed the identity verification process. The company must be a UK-registered entity, and verification requirements must also be met by corporate partners/members.

Impact of Non-Compliance and Support for Businesses

Failure to comply with the new identity verification rules will be treated as a criminal offense, and companies will not be able to appoint new directors until verification is completed. Ringley Law offers support to clients, assisting them in transitioning and ensuring compliance with the new requirements.