Labour leader accuses the Tories of failing to counter the flow of corrupt money into UK property sector
show nearly 30,000 properties in England and Wales including mansions owned by the Russian elite are registered to companies and individuals based in the British Virgin Islands . Most of the owners are unknown after delays in a government pledge to end secret offshore ownership of property., Starmer says greater transparency, more powerful counter-espionage measures and new anti-corruption laws are required to combat money laundering in the UK.
The BVI does not disclose company owners and many of the individuals who are property title holders are nominees acting for offshore trusts. Experts have established that a number of these properties, including some of the country’s most expensive homes, are linked to Russian billionaires. The BVI has committed to introducing a public register of company ownership by next year, but the exact details are yet to be confirmed after officials said some individuals should still be entitled to privacy. It was reported by the publicationthis month that the BVI is expected to be added this week by the EU to a “grey list” of tax havens.
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