Foreign companies looking to snap up U.K. property will be forced for the first time to publicly reveal the names of their owners, Prime Minister David Cameron will announce on Thursday.
The new public register will not only apply to new buyers but existing owners of the nearly 100,000 foreign-owned properties across England and Wales, a press release from the prime minister's officer explained.
Disclosure will also be required for those bidding on central government contracts.
Cameron is expected to make the announcement as he plays host at a global Anti-Corruption Summit in London Thursday.
Countries including France, the Netherlands, Nigeria and Afghanistan will also commit to launch similar registries on company ownership. Others like Australia, Ireland, New Zealand and Indonesia are expected to work towards their own disclosure programs.
The U.K.'s registry will be launched next month and see information shared between 40 jurisdictions, including Overseas Territories and Crown Dependencies.