Greater transparency to fight fraud.

July 31, 2015

David Cameron has announced new measures designed to end the use of offshore companies to diguise the purchase of high value UK property with “laundered money,” he was reported as saying that more than 100,000 property titles worth £122 billion are currently registered to offshore companies.

His speech followed closely on from the recent report that certain prime london properties maybe connected to “corrupt money” and that UK was becoming a safe haven for such transactions. He however did make it clear that the vast majority of foreign-owned businesses that invest in property in the UK are entirely legitimate and proper, and have nothing at all to hide.

David Cameron said “There is no place for dirty money in Britain. Indeed, there should be no place for dirty money anywhere, that is my message to foreign fraudsters and that London is not a place to stash your dodgy cash.”

According to the Prime Minister a first step in countering this problem would be that  the Land Registry would publish data showing the full set of titles owned by foreign companies this autumn, the UK will be committed to the creation of a central registry of companies’ beneficial owners. The requirements will apply to all UK bodies corporate that currently register information on their members at Companies House, including limited liability partnerships, and the register will be made available for public inspection. It is due to be up and running next April.

He reportedly said that the UK government would “continue to make the case for transparency with international partners, to really tackle corruption effectively we need to be able to trace data from one country to another”.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Renters urged to understand their new rights before major law change

With just one week until the first phase of the Renters’ Rights Act comes into effect, renters across England are being urged to understand how the changes will affect their rights, tenancies and day-to-day renting experience. From 1 May 2026, the new legislation will introduce wide-ranging reforms designed to provide greater stability, clearer rights, and…
Read More →
Adding second coat of varnish floor boards
Home and Living

The Foundation of Your Home: Why Your Subfloor Dictates Your Flooring Destiny

In the field of residential and commercial renovation, the aesthetic selection of a floor covering—be it the grain of a hardwood plank, the texture of a stone tile, or the finish of a luxury vinyl—often commands the most attention. However, from a technical perspective, the long-term performance and durability of these materials are entirely dependent…
Read More →
Breaking News

Almost £1.4m difference in property prices between the start and finish lines of London Marathon

The latest property market analysis from London’s number one lettings and sales estate agency brand, Foxtons, has revealed that there’s a difference of almost £1.4m in the average sold price from the starting point of the London Marathon and the finish line. As London’s largest estate agent, Foxtons holds an unrivalled view of the London…
Read More →
Rightmove logo
Breaking News

Demand drops year-on-year for commercial property from high base

Three out of four of the main commercial property sectors saw a yearly decline in demand both in terms of leasing and investment in the first quarter of the year, amid speculation about interest rate hikes following the start of the war in Iran. According to Rightmove’s Commercial Insights Tracker for Q1 2026, the office…
Read More →
Breaking News

Property market is improving

Property market is improving, but more sellers are cutting prices and withdrawing from the market The latest market data analysis from House Buyer Bureau has found that whilst the property market is showing signs of improvement, more sellers are still being forced to cut their asking price, endure a failed sale, or withdraw from the…
Read More →
Letting Agent Talk

How much to live along the London Marathon Route

Local lettings and estate agency, Kinleigh, Folkard & Hayward, reveal the costs to live along the iconic route – from the start in Blackheath to Greenwich all the way to Tower Bridge Sunday 26th April sees the iconic London marathon – the world’s biggest annual one-day fundraising event – return to the streets of London.…
Read More →