Question to the Department for Business and Trade:

To ask His Majesty's Government what assessment they have made of whether criminals in China are setting up companies by fraudulently registering addresses in the UK through Companies House in order to bypass Chinese restrictions on cryptocurrency trading.

Companies House is working increasingly closely with law enforcement to understand filing patterns. While I cannot comment on the detail of that, I am confident it will, over time, significantly improve the ability to identify and combat attempts systematically to abuse the company register.

Where Chinese nationals, or others, have registered companies using addresses which they have no authority to use, the Registrar has a suite of powers - recently strengthened by the Economic Crime and Corporate Transparency Act 2023 - which allow the misappropriated address to be replaced with a default address. Where companies persistently fail to provide an appropriate address, the Registrar has the power to strike them off the register altogether.