Foreign Companies: Ownership

Department for Business, Energy and Industrial Strategy written question – answered at on 21 March 2017.

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Photo of Pauline Latham Pauline Latham Conservative, Mid Derbyshire

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to ensure that foreign companies which own properties in the UK publish details of their ultimate beneficial ownership.

Photo of Margot James Margot James Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Government remains committed introducing the register of beneficial ownership for foreign companies that own UK property, which was announced at the Anti-Corruption summit in 2016.

This register is an important element of the forthcoming anti-corruption strategy. It will give assurance that the UK is a hostile environment for hiding the proceeds of corruption or laundering money.

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