In addition, and closely related, the structures are more and more complex. In fact, as you have pointed out yourself, companies are structured so as to connect to companies all around the world.
What are you doing to make sure that there is a registry of, or of some form of access to, the beneficiary ownership in foreign companies?
I am afraid that the efforts Canada is making are somewhat in vain. The structures are now using foreign companies that are not subject to the same rules of beneficiary ownership. I am afraid that, in Canada, the registry will basically be useless. Dishonest people will resort to complex structures designed to conceal the beneficiary ownership.
How can we arrange for all countries to come together to jointly use a registry of beneficiary ownership so that the dishonest people can be prevented from using structures overseas?