France: New register to target overseas owners of UK property

In May 2016, the government announced its intention to introduce a register recording the beneficial ownership and control of overseas entities that own UK property or participate in UK government procurement. This will be similar to the register of people with significant control (known as the ‘PSC’ register) that already applies to UK companies and LLPs. In its response to a call for evidence published in March of this year, the government has indicated that it intends for the new register, which will be the ‘first of its kind in the world’, to become operational in 2021.