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Only around 10 percent of businesses in Canada are legally obliged to disclose ownership details to the federal government, says a Department of Industry briefing note. Ninety percent of companies are registered within their home province or territory and are not covered by the legislation.
The vast majority of Canadian businesses, therefore, are exempt from federal disclosure of ownership, and a proposed bill seeks to amend that, according to documents obtained by Blacklock’s Reporter.
“Approximately 87 percent of corporations are incorporated at the provincial and territorial levels,” said the May 10 briefing note Beneficial Ownership Information. “Strong collaboration and engagement with provincial and territorial governments are vital to establish a coordinated national strategy that prevents regulatory arbitrage and loopholes.”… Source
90% of Businesses Exempt From Federal Bill Mandating Ownership Disclosure: Report
July 22nd, 2023 
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