If you hold real property in a corporation, partnership or trust the following information may apply to you. Please contact us if you have any questions.
Last year in May 2019, BC Government enacted the Land Owner Transparency Act (“LOTA”) in its effort to prevent tax evasion, fraud and money laundering. The LOTA will come into full force when the regulations are adopted (which is expected to be in late 2020). The purpose of LOTA is to establish a new registry in BC disclosing the beneficial ownership of land in BC.