Britain will now require foreign companies holding UK property to identify their true owners in an official register, the government said on Monday, as part of a crackdown on Russian oligarchs and corrupt elites laundering illicit wealth.
“To ensure we are free of corrupt elites with suspicious wealth, we need to know who owns what,” junior business minister Martin Callanan said. The register will apply to property bought since January 1999 in England and Wales, and since December 2014 in Scotland.
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