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In Canada, shell companies -- run by the owner's lawyers -- can hold property and there is no way to trace the property back to the original owners. The courts

In Canada, shell companies -- run by the owner's lawyers -- can hold property and there is no way to trace the property back to the original owners. The courts have found that the lawyers cannot be compelled to divulge the property ownership under lawyer-client confidentiality. It is kind of insane that this is even allowed. How do you plan to tackle money laundering, corruption, and transparency when you cannot even figure out who owns the property in the first place?

turbinerneiter 5y ago
If there is no owner to be found, it becomes government property. I think the owners would present themselves quickly. We let this happen. We don't have to.
- philjohn 5y ago
  More to the point, the Canadian parliament could simply outlaw this property holding arrangement.
  - newsclues 5y ago
    Not when members of parliament are property flippers in some of the most expensive places in the world.
goatsi 5y ago
At least in BC a new law means that the Beneficial owner needs to be identified. https://www2.gov.bc.ca/gov/content/housing-tenancy/real-estate-bc/land-owner-transparency-registry https://www2.gov.bc.ca/gov/content/housing-tenancy/real-esta...
- __turbobrew__ 5y ago
  We will see if this will hold up in court. When the ultra rich are threatened you can bet that a long lawsuit will follow.