Transparency of company ownership has been a priority of government in recent years with the aim of making the UK a world leader on improving corporate transparency. In 2016 the PSC regime came into force which applies to all UK incorporated companies (see our client note here). Back in March 2016 BEIS published a discussion paper which outlined a range of proposals to enhance the transparency of beneficial ownership of overseas companies owning UK property or engaging in UK central government procurement. A detailed call for evidence on these proposals was published on 5 April 2017.
Key elements of the proposal include that:
The call for evidence can be accessed here. The last date for comments is 15 May 2017.