Unexplained Wealth Orders, Explained
A new law is making its way through parliament as part of the Criminal Finances Bill which will give the Serious Fraud Office, HMRC, the National Crime Agency and other agencies the power to requiring an individual to explain the ownership of assets and how they were obtained. Kyle Phillips of law firm Howard Kennedy explains what Unexplained Wealth Orders might mean for prime residential property...
Unexplained wealth orders: How is the British law changing and will it stop dirty money circulating in London?
The Economic Crime Act allows the government to convey the impression that it is ‘doing something’ about the proceeds of kleptocracy being laundered in the UK - but far more fundamental and far-reaching…
Crime Agency secures first Unexplained Wealth Orders against two properties worth £22m
Ownerships of two properties in London and the South East are being investigated under new Criminal Finances powers, which have been dubbed the "McMafia Law"
UK real estate & the Register of Foreign Owners: New registration requirements, explained
As a transparency measure, the Government is set to introduce a Register of People with Significant Control over Overseas Companies owning UK real estate.
Most read
Knight Frank launches self-employed broker network
The 130-year-old estate agency has identified 36 London patches for affiliate brokers, as it looks to expand its sales coverage.
Harrods Estates to shutter operations after 130 years
High-profile luxury agency, founded in 1897 and a fixture of the Prime Central London market, has closed its Knightsbridge office and is no longer accepting new enquiries.
Savills snaps up top-end London lettings firm
Acquisition sees PCL veteran Mark Tunstall return to the agency as co-head of super-prime lettings in the capital.
Strutt & Parker recruits Knight Frank Private Office dealmaker Robinson
Super-prime specialist joins broker team as BNP Paribas-backed agency continues to scale PCL operations.
Harrods Estates duo Dougramaji & Harte join Strutt & Parker
BNP Paribas-backed agency boosts Knightsbridge & Belgravia team as top PCL operators move on from Harrods Estates.
Agency reports £37mn deal run on Hamilton Terrace
Five sales tucked away on one St John’s Wood street, including two sizeable houses just last week.
My Property Career: Quickfire Q&A with Charles Leigh
Recruitment guru Barry Collins chats with prime resi industry leaders & entrepreneurs, distilling decades of experience & career highlights into 60 seconds.
Resi developer & investor team up for €150mn luxury Marbella project
Major Spanish housebuilder confirms a 'strategic expansion' in the prime residential arena.
In Pictures: Brand new Wentworth mansion with rare fairway access seeks £21.5mn
Buyer sought for 18,000 sq ft new-build on prized 1.42-acre plot.
Allsop recruits former Savills director to lead new planning department
'We are pressing on with our strategy of growth in complementary business areas,' says property consultancy boss.
LATEST ARTICLES
REDD lands 12,000 sq ft mansion project in Notting Hill
Private client commission will see substantial villa reworked into 'best-in-class' family home.
The Whiteley reaches practical completion; full amenities line-up unveiled
Eight-year overhaul of London’s first department store has delivered 139 homes with 'best-in-class' facilities, a Six Senses hotel - and some new benchmarks for the sales market.
The Agency Group adds Head of New Homes
Prime-focused firm is looking to grow its presence in the new-build market.
Chestertons Global expands into India
'India is one of the most compelling real estate growth stories globally,' says CG boss Mohamed Mussa.
Fine & Country moves into Madrid
Alejandra Santos & Carlos Rojo have taken on the estate agency's licence in the Spanish capital.