UK GOVERNMENT PONDERS BENEFICIAL OWNERSHIP DECLARATION RULES FOR FOREIGN COMPANIES
February 1st, 2016
THE BRITISH government has launched public consultation on plans to force foreign companies who want to buy property in England and Wales or secure English public procurement contracts to declare beneficial ownership information.
The UK department for business, innovation & skills wants comments by April 1 and says it plans to develop formal proposals later this year (2016). Its consultation paper says the government wants to “help prevent the UK from being a safe haven for corrupt money from around the world,” and follows widespread concern that much ...
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