Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, how many beneficial owners listed in the Register of Overseas Entities are trusts based overseas; and for what reasons Companies House does not publish details about the beneficiaries and other parties of these trusts.

Currently, 8,857 registrable beneficial owners are recorded as either the trustees of a trust or having significant influence or control over a trust. An estimated 4,340 trusts have so far been registered with Companies House. Trusts associated with an overseas entity may or may not themselves be based overseas. Information about them is required to be provided to Companies House because they are associated with land held via an overseas entity. The figure provided relates to all trusts recorded on the Register of Overseas Entities.

Information about trusts is available to law enforcement and public authorities. Trusts are used for a wide range of purposes, including personal family arrangements, and providing for minors and vulnerable people. The Government needs to balance the right to privacy for these individuals against the value of transparency in combatting money laundering and economic crime.

NOTE

These figures are Companies House management information and are unaudited. They are subject to change and should be regarded as an indication only.