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The end of Londongrad? The impact of beneficial ownership transparency on offshore investment in UK property

Author

Listed:
  • Matthew Collin
  • Florian M. Hollenbach
  • David Szakonyi

Abstract

The United Kingdom's (UK) property markets are thought to be a common destination for corrupt and criminal assets and money laundering, with investment often through offshore shell companies. Following the Russian invasion of Ukraine in 2022, we study the impact of the introduction of a policy in the UK intended to increase transparency and eliminate the anonymous ownership of property by requiring offshore companies to file their ultimate beneficial owners on a public register.

Suggested Citation

  • Matthew Collin & Florian M. Hollenbach & David Szakonyi, 2023. "The end of Londongrad? The impact of beneficial ownership transparency on offshore investment in UK property," WIDER Working Paper Series wp-2023-11, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2023-11
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    References listed on IDEAS

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    1. Badarinza, Cristian & Ramadorai, Tarun, 2018. "Home away from home? Foreign demand and London house prices," Journal of Financial Economics, Elsevier, vol. 130(3), pages 532-555.
    2. Menkhoff, Lukas & Miethe, Jakob, 2019. "Tax evasion in new disguise? Examining tax havens' international bank deposits," Journal of Public Economics, Elsevier, vol. 176(C), pages 53-78.
    3. Casi, Elisa & Spengel, Christoph & Stage, Barbara M.B., 2020. "Cross-border tax evasion after the common reporting standard: Game over?," Journal of Public Economics, Elsevier, vol. 190(C).
    4. Caitlin S. Gorback & Benjamin J. Keys, 2020. "Global Capital and Local Assets: House Prices, Quantities, and Elasticities," NBER Working Papers 27370, National Bureau of Economic Research, Inc.
    5. Sebastian Beer & Maria Delgado Coelho & Sebastien Leduc, 2019. "Hidden Treasure: The Impact of Automatic Exchange of Information on Cross-Border Tax Evasion," IMF Working Papers 2019/286, International Monetary Fund.
    6. Dirk Bethmann & Michael Kvasnicka, 2016. "International Tax Evasion, State Purchases of Confidential Bank Data and Voluntary Disclosures," Discussion Paper Series 1603, Institute of Economic Research, Korea University.
    7. Pierce O’Reilly & Kevin Parra Ramírez & Michael A. Stemmer, 2021. "Exchange of Information and Bank Deposits in International Financial Centres," Hacienda Pública Española / Review of Public Economics, IEF, vol. 239(4), pages 27-69, November.
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    Cited by:

    1. Annette Alstadsæter & Matthew Collin & Andreas Økland, 2025. "Safely opening Pandora’s box: a guide for researchers working with leaked data," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 32(6), pages 1644-1666, December.
    2. repec:dbp:plnote:010 is not listed on IDEAS
    3. Jeanne Bomare & Ségal Le Guern Herry, 2025. "Avoiding Transparency through Offshore Real Estate: Evidence from the United Kingdom," AMSE Working Papers 2523, Aix-Marseille School of Economics, France.
    4. Annette Alstadsaeter & Matthew Collin & Bluebery Planterose & Gabriel Zucman & Andreas Økland, 2024. "Foreign investment in the Dubai housing market, 2020-2024," Post-Print halshs-04941057, HAL.

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