Should Alberta Require Private Companies to Disclose Their True Owners?
Official title: Beneficial ownership engagement
Alberta asked whether private companies should be required to keep records of who actually owns or controls them. This information would be shared with government authorities when needed. The consultation gathered feedback on how this might affect businesses and what challenges they'd face.
Why This Matters
Ever wonder who really owns that numbered company? Right now, it's often impossible to know. These rules could help catch money laundering and tax evasion. If you own or run a private company in Alberta, you'd have new paperwork to deal with.
What Could Change
The Business Corporations Act may be amended to require private Alberta companies to identify and record their beneficial owners. Government authorities would gain access to this information. Companies would need new processes to track ownership changes.
Key Issues
- What challenges would companies face in identifying their beneficial owners?
- How would companies confirm their status as private corporations?
- What extra work would be involved in maintaining beneficial ownership records?
How to Participate
- This consultation has closed. Feedback was collected through an online survey and written submissions to goa.bca-bo@gov.ab.ca from August 12 to September 11, 2025.
What Happened
Feedback was collected through an online survey and written email submissions. The government will use this input to inform new policies and develop amendments to the Business Corporations Act.