Consultation on strengthening corporate beneficial ownership transparency in Canada

From: Innovation, Science and Economic Development Canada

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The Government of Canada is committed to protecting Canadians and Canadian businesses against money laundering, terrorist financing, tax evasion and tax avoidance, while ensuring it remains attractive to do business in Canada. That is why federally-incorporated, privately-held businesses are required to create and maintain a register of individuals with significant control over the corporation. Through our continued coordination with the provinces and territories, we are now exploring options to make the information maintained in these registers more readily available to law enforcement, tax and other competent authorities, such as through the creation of a public registry.

Consultation process

From February 13, 2020 to April 30, 2020, the Government of Canada invited Canadians to provide comments on the Consultation paper: Strengthening Corporate Beneficial Ownership Transparency in Canada.

The consultation on strengthening corporate beneficial ownership transparency in Canada closed on April 30, 2020.

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