The B.C. Government has extended the transparency reports required by indirect owners of B.C. land to November 30, 2022.
This filing date applies to the beneficial owners of all corporations, trusts and partnerships that have an interest in B.C. land acquired prior to November 30, 2020. This filing date is not applicable to land that is owned by individuals in their own personal capacity.
The Land Owner Transparency Act came into force in British Columbia on November 30, 2020. This law created a publicly searchable registry of information about beneficial ownership of land in British Columbia. This means that individuals with an indirect interest in land in British Columbia, such as through a corporation, trust or partnership, must submit transparency reports regarding beneficial interest in land.
Given the complexities of the 23-page transparency report, we recommend contacting your lawyer or notary to prepare and submit the report to the Land Owner Transparency Registry.
All land owners with indirect interests in land in British Columbia, which was acquired before November 30, 2020 and held after November 30, 2021, require a Transparency Report to be filed. Going forward, transparency filings will be required when an indirect interest in land is acquired and when the indirect interest in land has changed.
This reporting requirement applies only to B.C. land owned by a reporting body, such as a corporation, trust, or partnership.
Additional information can be found within the following websites:
- Land Owner Transparency Registry
- British Columbia Government – Land Owner Transparency Registry
- BC Legislation – Land Owner Transparency Act
