Lifting the Lid on Offshore Care Home Landlords
Social care is an essential service and so the care homes, from which they provide services, are a critical part of the national ‘infrastructure’. CICTAR’s research has found that overseas property investment companies own numerous UK care homes, and that these could be used to shift profits offshore.
Key Findings
Offshore companies own 82 (12%) of the 706 care homes in England which are run by one of the largest four care home providers (HC-One, Four Seasons, Barchester, Care UK).
75 of the companies that own these homes, and associated land, are based in the secrecy jurisdictions of either Jersey or the Isle of Man.
In addition to this, largely Chinese state-owned investment group, Cindat
owns 64 properties/land parcels in England and Wales. The majority of these land and property titles relate to nursing and care homes, through an investment with US-based Omega Healthcare Investors Inc.44 (69%) of these are held through offshore companies based in Jersey. The Jersey companies in turn appear to be owned via a company in the Cayman Islands.
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