Property: Ownership

(asked on 8th December 2016) - View Source

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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what progress his Department has made on developing a public register of UK property ownership.


Answered by
Margot James Portrait
Margot James
This question was answered on 14th December 2016

At the International Anti-Corruption Summit in London on 12 May, the previous Prime Minister announced that the Government will require overseas companies that own or purchase UK properties or bid on UK Government procurement contracts to provide details of their beneficial owners to a public central register.

This will be the first register of its kind in the world and the Department for Business, Energy and Industrial Strategy (BEIS) has been working with the devolved administrations, delivery partners and other experts to develop this novel and complex policy that will have to operate effectively across UK and international company law, and within the three different land registration regimes of the UK. BEIS intends to publish a call for evidence seeking views on the policy in the coming months.

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