VANCOUVER—In an effort to crack down on tax avoidance, the B.C. government will create a public registry to show who owns real estate in the province.
B.C.’s finance minister says the province has gotten a reputation for being a place to invest anonymously and hide wealth.
“Right now in B.C., real estate investors can hide behind numbered companies, offshore and domestic trusts, and corporations,” said Carole James in a statement. “Ending this type of hidden ownership in real estate will help us fight tax evasion, tax fraud and money laundering.”