Foreign Companies: Property

Department for Business, Energy and Industrial Strategy written question – answered on 12th December 2017.

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Photo of Lloyd Russell-Moyle Lloyd Russell-Moyle Labour/Co-operative, Brighton, Kemptown

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the Land Registry's publication of offshore companies owning UK property, what assessment he has made of the potential effect on the public purse of making the beneficial owners of those companies public.

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

We stand by our commitment at the 2016 International Anti-Corruption Summit to create a register showing the beneficial owners of overseas companies which own or buy property in the UK or participate in central government contracts. We are carrying out a full impact assessment and will be publishing this in due course.

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