Posthaste: Canada is being advertised as an attractive place for Russian oligarchs to set up shell companies

” argues that Canada’s sterling international reputation coupled with weak financial transparency regulations make it attractive for Russian oligarchs.

One translated ad quoted in the report reads: “If you have previously used U.K. partnership structures in business … many factors have changed and a Canadian LP will be the best choice.” “In contrast to offshore jurisdictions with large corporate services industries seeking to attract clients to their shores, Canada’s emergence as a secrecy jurisdiction has not been by design. Rather, our corporate structures are being exploited because we have failed to update laws to keep pace with changes in global finance,” it said.Article content

But Canada should consider implementing a similar registry to the U.K.’s open data system, the report said. Such a registry must include details of partnerships and ownership beyond Canadian parent companies, to those actually in control behind the scenes.

financialpost 2025? So whose prepared to correct these inadequacies in CDA before flooded by the world’s richest, and most corrupt...

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Posthaste: Canada is being advertised as an attractive place for Russian oligarchs to set up shell companiesCanada is being advertised as an attractive place for Russian oligarchs to set up shell companies — via financialpost Canada Russia financialpost lol ok. Not even Canadians want to invest here. financialpost Not surprising. Canada is building its economy on foreign money and real estate. Is this what Trudy meant by 'post-national state'? financialpost Are the Russians advertising in postmedianet now? Makes sense, they own you anyways. PutinsPuppet
Source: nationalpost - 🏆 10. / 80 Read more »