The UK opened a call for evidence on a beneficial ownership register to increase the transparency of overseas investment in property and public contracts in April 2017. The results of the consultation were published in March 2018.

In January 2018, the UK Government announced that the UK would not put forward primary legislation on introducing a public register, revealing the true owners of overseas companies buying UK property, until at least summer 2019. This meant the Government missed its original deadline of April 2018.

In line with the Government’s new timetable, the Department for Business, Energy and Industrial Strategy opened a consultation on a draft bill for the register in July 2018. The consultation closed in September 2018.

A joint parliamentary committee was appointed in February 2019 to scrutinise the draft bill prior to legislation being laid in the UK Parliament. It issued a report in May 2019 urging the Government to put the draft legislation to Parliament “as soon as possible” while also noting the “need for a Register of Overseas Entities has increased”. The Government responded to this report by reaffirming its commitment to legislate for a public register of the real owners of overseas companies that own or buy property in the UK.

TI-UK and others called on the Government to include this legislation in the December 2019 Queen’s Speech. It was included with a commitment to progress legislation. The legislation is also included as a key measure in the Economic Crime Plan 2019-2022, and was the focus of a written ministerial statement in July 2020.

HM Government reiterated its commitment to progress legislation for the register when Parliamentary time allows in UK Anti-Corruption Strategy Year 2 Update. TI-UK recommends that the UK Government identifies parliamentary time for legislation on this policy to be tabled as soon as possible, in line with measures to verify data submitted to Companies House.

Updated: October 31, 2020

The UK Government reiterated their commitment to establish a a Register of Overseas Entities alongside the December 2020 Queen’s Speech. The Registration of Overseas Entities Bill is also a key commitment within the Government’s 2019 Economic Crime Plan.

Peer reviewer: 1

Updated: April 30, 2020

A joint parliamentary committee was appointed in February 2019 to scrutinise the draft bill prior to legislation being laid in the UK Parliament. It issued a report in May 2019 urging the Government to put the draft legislation to Parliament “as soon as possible” while also noting the “need for a Register of Overseas Entities has increased”. The Government responded to this report by reaffirming its commitment to legislate for a public register of the real owners of overseas companies that own or buy property in the UK.

Updated: October 30, 2019

A joint parliamentary committee was appointed in February 2019 to scrutinise the draft bill (for property) prior to legislation being laid in the UK Parliament. The UK has not yet legislated for this register, which it committed to doing by April 2018, however a draft bill for this register is currently undergoing pre-legislative scrutiny by a joint committee of Parliamentarians. When legislation for this register lands in Parliament, TI-UK will consider this commitment complete.

Updated: May 30, 2019

The Government have now published a draft bill for a public register of the beneficial owners of companies that own or buy property, and has set out that it intends to publish this same data for winners of public contracts separately.

Updated: October 30, 2018

The UK opened a call for evidence on a beneficial ownership register to increase the transparency of overseas investment in property and public contracts in April 2017.

Updated: June 30, 2018