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Written Question
Property: Ownership
Monday 24th January 2022

Asked by: Lord Grocott (Labour - Life peer)

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government when they will establish a beneficial ownership register of overseas entities which own UK property, as envisaged in the draft Registration of Overseas Entities Bill.

Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)

As set out in the Written Ministerial Statement I made on 2nd November 2021, the Government remains committed to establishing a new beneficial ownership register of overseas entities that own UK property. This register will help combat money laundering and achieve greater transparency in the UK property market. We will legislate when parliamentary time allows.