On August 1st regulations in the UK came into play requiring all foreign companies owning UK property to identify their owners in an official register. This move was seen by many as an effort to reduce the ease with which Russian oligarchs, and their money can operate undetected in the UK.
The register of Overseas Entities, forms part of the Economic Crime (Transparency and Enforcement) Act 2022. It is an Open-Source tool that will be invaluable in identifying the true scale of foreign held assets within the United Kingdom.
