UK Property

UK Property

UK fines 123 offshore companies for transparency law breach

Stay informed with free updatesSimply sign up to the UK property myFT Digest -- delivered directly to your inbox.Britain has issued more than 120 financial penalties to offshore companies that have failed to comply with transparency legislation designed to uncover illicit wealth hidden in the UK property market.The Register of Overseas Entities was created after Russia’s invasion of Ukraine to help the UK government crack down on oligarchs and other kleptocrats.Individuals that own British property through offshore vehicles had until the end of January 2023 to register such entities and...
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