Offshore companies own 25% of real estate in England and Wales

A quarter of the property in England and Wales belongs to foreign companies registered in the British Virgin Islands. Thus, the archipelago in the Caribbean Sea is the official home for more than 23 thousand properties.

Such information was published by the BBC, having studied Land Registry data on foreign property. As it turned out, as of the beginning of the year in England and Wales there are 97 thousand houses in foreign ownership. Most of these houses and apartments belong to 11,700 companies that are registered in the British Virgin Islands. By the way, the population of this territory is slightly more than 30 thousand people. Also, many owners of British real estate are registered in Hong Kong, Panama and Ireland.

Experts already argue that in this way, property owners shy away from taxes, as the islands in the Caribbean are traditionally considered offshore. However, the government of the British Virgin Islands repeatedly demanded to stop designating their country as a "tax haven."

Among the most expensive properties in foreign ownership, the former headquarters of the police of London can be identified. This building was purchased by a financial group from Abu Dhabi in 2014 for £370 million. But now it is owned by a company registered in the overseas territory of Great Britain - the island of Jersey.

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