How Canada became an offshore destination for 'snow washing'

The country’s opaque jurisdictions allows owners of private companies to remain anonymous and the firms to remain in the shadows Canada is one the world’s most opaque jurisdictions when it comes to identifying the owners of private companies and trusts, according to anti-corruption campaigners who say that more rigorous checks are required to obtain a library card than to set up a company in the country. “Anyone can start a company in Canada. It costs about C$200 and the owner of the company can remain completely anonymous,” said lawyer Mora Johnson, who recently authored a report detailing the country’s lax rules around corporate registration. Continue reading...
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