Crackdown on offshore shell companies

Government proposes revolutionary crack down on offshore property investment. Estates Gazette rounds up the news surrounding the announcement Follow @EstatesGazette News Panama Papers Archive Overseas ownership disclosures: what you need to know The government is proposing a radical shake-up in the treatment of offshore-owned property in the UK and the transparency of its ownership. More… Transparency fears could hit offices Increased transparency requirements for property owned by non-UK nationals could impair the wavering London office market. More… Anonymous property buyers to be exposed Owners of offshore shell companies that hold £170bn of British real estate are to be unmasked in a crackdown on money laundering and tax evasion, according to The Times. More… Would investment volumes fall off a cliff if such transparency was demanded for buying property? I guess it could. https://t.co/ZtXnAqlHJz — David Hatcher (@hatcherdavid) April 21, 2016 [caption id="attachment_845873" align="alignnone" width="1024"] Click here for a full round-up[/caption] SECRET STAKES IN LONDON UNVEILED Secret stakes in London property held by global political leaders have been uncovered in a huge leak of documents from Panama-based law firm Mossack Fonseca. More… WHO OWNS LONDON? Analysis of the Land Registry’s database of foreign property ownership in England and Wales shows that 99,344 properties in the UK are owned by companies registered abroad and 44,022 of those, or 44%, are in London. The map below shows where the money has come from. Hover over the circles to see values. Back to top SEE ALSO • "Only the guilty need fear register" Cain Hoy chief executive Jonathan Goldstein This morning’s news, first revealed by The Times, that owners of offshore companies wanting to trade property in the UK will have to be registered on a new database that shows their ultimate ownership could have huge implications for the property industry. More… • Briefing: UK’s overseas ownership revealed Analysis of the Land Registry’s database of foreign property ownership in England and Wales shows that 99,344 properties in the UK are owned by companies registered abroad and 44,022 of those, or 44%, are in London. More… • Cameron: Property shell companies to be exposed [2015] Prime minister David Cameron will promise to expose the use of anonymous shell companies to buy property in the UK, in a speech in Singapore. More… Back to top • To send feedback, e-mail david.hatcher@estatesgazette.com or tweet @hatcherdavid or @estatesgazette