ARTICLE
4 August 2016

Prime Ministerial Announcement: Transparency Of Beneficial Ownership Of Foreign Companies

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
The UK will require foreign companies which own UK property and those that wish to buy UK property or bid for central government contracts to disclose their ultimate shareholders.
United Kingdom Corporate/Commercial Law

On 12 May 2016, as part of his closing remarks at the Anti-Corruption Summit 2016, David Cameron announced that the UK will require foreign companies which own UK property and those that wish to buy UK property or bid for central government contracts to disclose their ultimate shareholders.

This is to be done by joining a public register of beneficial ownership information. The closing remarks can be accessed here:

https://www.gov.uk/government/speeches/anti-corruption-summit-2016-pms-closing-remarks

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More