New register will show who has significant influence or control over the owner or long-lease tenant of land and property in Scotland
RCI is a Registers of Scotland (RoS) register, required by law, which will be available from 1 April 2022.
Following the Land Reform Act 2016, regulations have been passed to create a new register that will be available in Scotland from 1 April 2022. The register, called RCI for short, will show who has significant influence or control over the owner or long-lease tenant (20-plus years) of land and property in Scotland where this information may not be publicly available elsewhere.
After an initial grace period of 12 months, penalties will be applicable for failure to register details and therefore members should start preparing affected clients for submission of relevant details.
RoS has published an introductory RCI webpage and released some short video clips on social media such as Twitter and YouTube as initial bitesize guidance about the register, who is in scope and what is required for a submission etc.
Further content will be issued and signposted by RoS in its monthly newsletters and social media.