UK: Government Responds to Joint Committee Report on Draft Registration of Overseas Entities Bill

On July 18, 2019, the UK government published its response to the joint committee’s report on the draft Registration of Overseas Entities Bill, which was introduced in July 2018. The aim of the bill is to take robust measures against the use of UK property for money laundering purposes by improving transparency of property ownership through identification of the beneficial owners of overseas entities that own or plan to own UK property.

In its response, the government comments on the joint committee’s recommendations. Some of the key points of the response are:

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