In response to the government's concerns about the potential for illegal activity to take place through overseas companies investing in the UK's property sector, the Department for Business, Energy & Industrial Strategy launched a consultation seeking views on a new beneficial ownership register of overseas companies that own UK property or participate in UK government procurement.

In their response, the Law Society acknowledge the importance of improving transparency, and support some of the government's proposals (for example, the proposed protection for lenders enforcing security over UK property). The Law Society stressed the importance of the government not conflating the concept of "beneficial owner" (as defined in the Fourth Money Laundering Directive) with the concept of "people with significant control" (as defined in the PSC regime).