Property News · March 22, 2018

Ministers vow to end secrecy around foreign ownership of UK property


Government confirms plans to crack down on use of shell companies to ‘launder dirty money by buying up prime real estate’Frontmen of foreign shell companies that are used to hide the true ownership of some of London’s most expensive properties could face up to two years in jail and unlimited fines under new government plans.The government announced the new sanctions on Thursday as it unveiled plans to set out draft laws this summer to lift the secrecy surrounding foreign ownership of billions of pounds worth of British property. Continue reading…

Source : theguardian.com
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