PREMIUM Shell companies and real estate: Why due diligence matters Investigate the history of property, review company registration documents and dubious transactions. DN2 Just now

In its guidance to reporting institutions, the agency warns that shell companies, third parties and complex ownership structures can be used to hide the identities of the true beneficiaries of property transactions.

The Property lawyer explains that shell companies often have nominee directors, minimal business operations and ownership chains that stretch across several jurisdictions, making it difficult for authorities to identify the people ultimately controlling the assets.

The paperwork is complete, payments are made and the deal is sealed, yet, behind some of these transactions lies a question that regulators, lawyers and property professionals are increasingly asking: Who is the real owner?