UK SBS FWRECR17047BEIS - Overseas Company and Other Legal Entities Beneficial Ownership Register

This research will be used to inform policy making and produce an impact assessment for this policy.

The main objective is to understand the effect of enhanced transparency on the owners and controllers of overseas entities that own, or wish to purchase, land or property in the UK, as well as the likely impact on inward investment to the UK.

Approach We expect 5 key outcomes from the project. • Outcome 1: Survey data and analysis of the perceived impact of increased transparency (of the owners and controllers behind overseas entities that own, or wish to purchase property in the UK) on the UK's ability to attract overseas investment, and its reputation for Foreign Direct Investment. This should also include the the value that UK investors, funds based in major overseas markets, and other groups such as civil society organisations may see in the additional information that is going to be available to them. This data should be drawn from discussions with a broad range of stakeholders and overseas entities that own property in the UK.

• Outcome 2: Survey data and analysis of the impact of the policy on the UK property market. This should include analysis of the impacts on commercial and residential property; property purchased for use by the overseas entity itself and property purchased primarily as an investment; high-value property and non-high value property, London property vs rest of the UK. Data should be drawn from discussions with a broad range of stakeholders and the overseas entities that own UK property. It should also include an analysis of current overseas investment in the UK commercial and residential property market by linking the Land Registry data with Ordnance Survey Address Base data. It should be possible to segment these survey results by country of incorporation.

• Outcome 3: Survey data and analysis of the costs and benefits of compliance for overseas entities. This should be drawn from discussions with the broad range of stakeholders and companies that own property in the UK.

• Outcome 4: Survey data and analysis of the perceived impact of the policy on overseas entities' motivations and behaviour regarding investing in the UK property market. This should be drawn from discussions with the broad range of stakeholders, funds that invest in UK property, and the overseas entities that already own UK property. It should include a comparison between the the UK and other countries with competitive property markets.

• Outcome 5: The research should also seek to identify any additional impacts of the policy that need to be considered, through discussions with overseas entities that own UK property and key players in the UK property market.