Province extends deadline for land owner registry

The deadline for registering with the BC government’s Land Owner Transparency Registry has been extended to Nov. 30, 2022. The database was created to fight money laundering and will create a record of “beneficial owners” of property in BC.
 
According to the province, beneficial owners include:

• shareholders of a corporation that own land in BC
• individuals who indirectly control shares of a landowning corporation; and
• a trust beneficiary (a person, or group of people, who will benefit from the assets owned by the trust) where the land is held for them by a trustee.

 
The extension was granted to help ensure more property owners are able to comply with the regulation.