'Beneficial ownership register' of overseas companies with UK property

The Department of Business, Energy and Industrial Strategy has consulted across the industry on proposals to implement a central 'beneficial ownership register', of overseas companies who own UK property.

The most recent Government update announces that a working party will be set up "in due course" with a draft bill "later this year". The intention is that the register will be in place by 2021.

We continue to monitor the progress of these proposals, and will alert clients as soon as anything significant occurs.

We already believe that our property management software can handle all likely future requirements, using Mojo and our Screen Designer functionality.

To understand more about these two powerful elements of our software, contact your Trace Account Manager. We'll show you how they can add further capabilities and flexibility to your systems.

In the meantime, you can read up more on the Government consultation and its subsequent reponse.