The legal position for UK investors wanting to invest in legitimate cannabis related entities overseas is complex
It is now more than two years since Canada followed Uruguay’s lead to permit the adult personal possession, sharing and cultivation of recreational cannabis.
Since then, the Canadian cannabis industry has thrived, with some forecasts predicting the market could be worth C$97.35bn (£56bn) by 2026.
There have also have been various funds and investment vehicles looking to tap into that growth curve.
However, the legal position for UK investors (individuals and funds) wanting to invest in legitimate cannabis related entities overseas is complicated by the Proceeds of Crime Act 2002 (POCA) and so UK investors wanting to join this party face considerable challenges.
Why is this? The cultivation, possession and supply of cannabis remains illegal in the UK, with the notable exception of some types of medicinal cannabis.
Under POCA, ‘criminal…
