Renocon Property Development News Today

A new law in the United Kingdom is requiring offshore companies investing in its property market to declare their beneficial owners, promising to reverse London’s notoriety for allowing the flow of suspicious funds into its real estate through offshore shell companies. According to BBC, any anonymous foreign company seeking to buy UK land or property will need to reveal the true owners. Foreign companies that refuse to disclose their true owner could face fines of up to £2,500 per day or up t...