Foreign Companies: Property

(asked on 15th May 2023) - View Source

Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, how many overseas companies in the Register of Overseas Entities hold UK property assets through nominee arrangements on behalf of others; and whether the details of those natural persons ultimately controlling the underlying property are known to Companies House.

Answered by
Kevin Hollinrake Portrait
Kevin Hollinrake
Parliamentary Under Secretary of State (Department for Business and Trade)
This question was answered on 18th May 2023

Overseas entities are required to provide information about their beneficial owners. If a beneficial owner is a nominee, the overseas entity in most circumstances is still required to provide information about the real beneficial owner, i.e., the person behind the nominee.

It is not possible to ascertain how many overseas entities hold assets through nominee arrangements. The Register will show the details of the registrable beneficial owners of the overseas entity, who may include both nominees and the natural persons behind them.

Reticulating Splines