Boris Johnson has repeatedly promised to 'open up the Matryoshka doll of Russian-owned companies' which are often set up offshore so the true owners are not identified
Officials in the Business Department had advised earlier this week that the measures were more than two years from being fully implemented, Sky News understands.
New processes to verify the identities of the company owners - to be carried out by Companies House - were not expected to be introduced to parliament until the autumn, where they could then take months to pass.The proposed implementation period for existing property owners was 18 months, but this may now be cut to 12 months.
Another government source said:"The PM is insisting we do it, it's now a top priority. But we would still be struggling to implement it this year. "If Companies House can't verify who these people are, there's absolutely no point as people can just make up names and addresses.
Separate measures to beef up Unexplained Wealth Orders - a barely-used power created in 2017 to force people linked with serious crime to declare their assets - are also set to be brought forward.
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