Trusts to be kept out of UK's new beneficial ownership register

Pedro Gonçalves
clock • 2 min read

The British government plans to create a publicly accessible register of the foreign entities that own UK property, and of the individuals who actually control them, to improve transparency over ownership but has rejected calls to explicitly include trusts in its scope. The joint committee on the draft Registration of Overseas Entities Bill report  raises a number of concerns about the draft legislation, particularly criticising the omission of trusts from the proposed rules. The Bill does not cover trusts, and since trusts are not technically ‘entities', there are concerns that they ...

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