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

Estate Agent Talk

The Future of Urban Real Estate: Trends and Predictions for 2026

Affordability pressures, hybrid work arrangements, and steep borrowing costs are heavy influences on urban real estate for 2026. We’re seeing an increase in mixed-use development and a renewed focus from investors on markets with a steady demand. Markets that can balance housing access, transportation, lifestyle amenities, and flexible workplaces will come out on top. Major…
Read More →
Estate Agent Talk

London’s prime residential market isn’t falling — it’s repricing

By Daniel Austin, CEO and co-founder at ASK Partners London’s prime residential market has looked subdued by global standards, but framing current conditions as a decline overlooks the more important underlying dynamic. The market is undergoing structural repricing driven by higher interest rates, shifting tax policy and a more volatile geopolitical environment. This is not…
Read More →
Breaking News

Foxtons Lettings Market Index – April 2026

Market activity strengthens with applicant demand recovering and supply remaining ahead of last year   After the implementation of the Renters’ Rights Act, April provides the final snapshot of market conditions ahead of implementation, offering a clear benchmark for how the sector is positioned entering this new regulatory environment. The lettings market strengthened through the…
Read More →
Breaking News

Five hidden costs catching home buyers out

FIVE hidden costs that’re catching home buyers out, AFTER they put their offer in, says expert • Buyers often focus on deposits and mortgages, but overlook thousands in extra costs • Delays, surveys and legal fees can quickly inflate budgets • Unexpected gaps in funding are becoming increasingly common A lot of home buyers think…
Read More →
Breaking News

Housing Insight Report: March 2026

Buyer activity and sales agreed picked up this month as the housing market entered the spring season, with increased stock levels giving consumers more choice despite ongoing affordability pressures. Meanwhile, the rental market remained highly competitive, as tenant demand continued to outstrip supply and concerns over future regulation weighed on landlord confidence. Sales 1. The…
Read More →
Breaking News

Renters’ Rights Act risks leaving the tenants it set out to protect with fewer options

Fewer than a third of landlords are fully aware that the Renters’ Rights Act bans advance rent payments of more than one month, according to new research from LRG. The survey of 650 landlords and tenants across England and Wales found that 43% know the rules have changed but remain uncertain of the details, while…
Read More →