Ottawa lawyer Mora Johnson has documented how easily private businesses in Canada can hide who really owns them. The report focuses on "beneficial ownership," that is, the question of who really profits from mysterious corporations that often hide their financial affairs behind obscure names and numbers. Johnson's report shows that private firms can apply for a certificate of incorporation from a provincial government, where the corporate name is then listed on a provincial registry. "The corporation's directors and their addresses will be included in the provincial directory but no beneficial ownership information is disclosed," she notes. They include a single registry for Canada's 14 jurisdictions, free and open access to the registry for citizens, and prompt updates.

Source: CBC News December 03, 2017 09:56 UTC