The Register of Persons Holding a Controlled Interest in Land (RCI) started on 1 April 2022.
The goal was to make it clear who really controls land and property in Scotland and by 1 April 2024, everyone who needs to register should have done so.
This deadline marks the end of a transition period, giving people time to comply with the new rules but if you’re yet to register, you’re at significant risk of a fine of up to £5,000.
You need to register if you are an owner, a long-term tenant (leases over 20 years) or an "Associate" – someone who has significant control or influence over decisions related to the land.
If a Recorded Person or Associate does not fulfil their duties, such as registering or keeping the RCI updated, they are committing a criminal offence.
Recorded Persons must inform Associates about the registration, and Associates are required to provide necessary information when requested.
To comply with the RCI, you'll need to provide certain details, including information about the owner or tenant, the property, and the associates.
For individuals, this means names, addresses, and dates of birth, whilst for organisations, you'll need registered numbers and contact details.
You’ll need to submit this information to Registers of Scotland within 60 days of an association starting and keep it up to date.
The register is public, so be mindful of privacy concerns.
Some entities are exempt from registering and if you're already reporting under other transparency rules, like UK companies or certain charities, you might not need to register with the RCI.
These exemptions depend on your legal structure and existing obligations so speak to your accountant for help determining your responsibilities in this case.
To stay compliant, you should review your current land holdings and control structures and determine if you need to register as well as gather all the necessary information to do so.
If you are yet to submit, you may still be able to avoid the fine by writing to Registers of Scotland and explaining the situation.
You’ll still need to register, however, so make sure you get the process rolling as soon as possible.
Along with the fines and criminal charges, non-compliance with the register has the prospect of bringing you serious reputational damage so we highly recommend you register quickly to avoid this.
If you’re unsure about your obligations, we’re happy to discuss them with you so please get in touch with the Scholes CA team.
