ED Scrutinizes Wealthy Indians for UK Property Investments via Offshore Companies

The Enforcement Directorate (ED) has launched an investigation into affluent Indians using offshore companies to acquire UK properties. This scrutiny comes as the UK now requires disclosure of beneficial ownership details since 2023, revealing previously hidden identities. The ED is examining whether these investments breach foreign exchange laws, as buying shares in companies primarily holding properties is prohibited under Indian regulations. Over the past month, at least four individuals have received ED notices regarding such investments. This crackdown aims to discourage real estate trading through foreign entities and follows increased global scrutiny of property ownership, particularly in light of Russian investments in London real estate.
Source: Economic Times