Closed consultation

Draft Registration of Overseas Entities Bill

From:: Department for Business and Trade and Department for Business, Energy & Industrial Strategy
Published: 23 July 2018
Last updated: 18 April 2019 — See all updates

Consultation description

The draft Registration of Overseas Entities Bill sets out provisions to establish a new beneficial ownership register of overseas entities that own UK property. This follows the commitment made at the Anti-Corruption Summit in 2016 to establish such a register, in order to combat money laundering and achieve greater transparency in the UK property market.

An overview document accompanies the Bill, which explains how the register will work and invites comments on some technical aspects of the Bill.

This draft Bill will be of interest to:

overseas legal entities which own UK property or are considering buying UK property
professional advisers and service providers for overseas legal entities
estate agents
conveyancing solicitors
civil society and transparency campaigners

To support these proposals, government commissioned research aimed at understanding the potential impacts of the proposed register through qualitative interviews with industry stakeholders:

A register of beneficial owners of overseas companies and other legal entities

Documents

Draft Bill: Registration of Overseas Entities

Ref: Cm. 9635

PDF, 2.39 MB, 93 pages

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