https://sputnikglobe.com/20220515/uk-drafts-bill-on-information-disclosures-in-real-estate-deals-for-entities-reports-say-1095524702.html
UK Drafts Bill on Information Disclosures in Real Estate Deals for Entities, Reports Say
UK Drafts Bill on Information Disclosures in Real Estate Deals for Entities, Reports Say
Sputnik International
UK Drafts Bill on Information Disclosures in Real Estate Deals for Entities, Reports Say
2022-05-15T10:59+0000
2022-05-15T10:59+0000
2023-05-28T15:19+0000
real estate
oligarchs
michael gove
united kingdom (uk)
https://cdn1.img.sputnikglobe.com/img/105626/60/1056266027_0:100:1921:1180_1920x0_80_0_0_cc693f9b221f3335c8d13ed5c6907996.jpg
The legislation is targeted against "Russian oligarchs who use remaining loopholes to buy and sell vast homes under a cloak of anonymity", the Telegraph noted.If this bill is passed, any entity will have to send the information about the true beneficiary to the the Land Registry before the purchase is completed.
united kingdom (uk)
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2022
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
uk drafts bill on information disclosures in real estate deals for entities, reports say
uk drafts bill on information disclosures in real estate deals for entities, reports say
UK Drafts Bill on Information Disclosures in Real Estate Deals for Entities, Reports Say
10:59 GMT 15.05.2022 (Updated: 15:19 GMT 28.05.2023) MOSCOW (Sputnik) - The housing ministry of the United Kingdom drafted a bill, which would obligate companies, trusts and organisations of other nature involved in real estate transactions to disclose their true beneficial owners, the Telegraph newspaper reported.
"We want to shut down the racket of illicit money that has flooded through the British property market once and for all. Our property market will no longer be open to corrupt individuals and regimes laundering their money and hiding their identity", the housing minister, Michael Gove, was quoted as saying by the newspaper.
The legislation is targeted against "
Russian oligarchs who use remaining loopholes to buy and sell vast homes under a cloak of anonymity", the Telegraph noted.
If this bill is passed, any entity will have to send the information about the true beneficiary to the the Land Registry before the purchase is completed.
