Before the June general election was announced, the government set out its proposals to introduce the world’s first register of overseas companies and other legal entities that own property in the UK. The register would also list the beneficial owners of overseas registered firms involved in central government procurement exercises. The government called for evidence, asking overseas investors, property and transparency experts for their opinions on how this register could be delivered.
The government also said that a research project to be launched for the Department for Business, Energy and Industrial Strategy would assess the likely impact of the overseas property register on inward investment and wider corporate transparency. We wait to see if, and how, these proposals progress after the election.