London is an increasingly popular city to live and work in. The population is 8.5 million and is growing at a rate of over a million more people per decade. Demand for living in the capital has increased regardless of Brexit because London is arguably the most important and exciting city on the planet. It is Europe's largest city and it is unique in that the political, economic, arts, fashion and education centres of the UK are all in the same city, so there is a huge international draw, with London acting as a magnet for global talent.
The city's popularity as a prime area for property investment is safeguarded as investors the world over recognise that London is unique as a safe investment bet.
This global appeal means that regulations and legislation must be stringently upheld. Dexters has had Money Laundering best practice in place since 2007 when the Money Laundering regulations came into force. We provide regular coaching and updates to ensure that all staff members are up to speed on regulations.
Each office has a Money Laundering Pack, which includes all of the documents that you need relating to Money Laundering so that they are easily accessible in one place.
The vast majority of overseas companies that own property in London are registered in tax havens, according to a report by Transparency International UK and Thomson Reuters. Just over 90 percent of the 23,653 overseas companies owning 44,022 land titles in London were registered in places such as the British Virgin islands, Jersey, the Isle of Man and Panama, according to data analysed from the Land Registry. London's mix of top-end apartments, luxury penthouses and gleaming skyscrapers have long attracted foreign investors and major corporations who use the city as global hub which sits between Asia and America. But the release of the "Panama Papers" earlier this year shone a light on firms and individuals who use complex structures to base themselves abroad, putting the issue of tax avoidance at the top of the global agenda.