Article
Ongoing Compliance: Maintaining the ISC Register for Ontario Corporations
August 27, 2024
Since January 1, 2023, private Ontario corporations are required to create and maintain a register of “individuals with significant control” over the corporation (“ISC Register”). This requirement was introduced by the Ontario government as a measure to increase transparency of corporate ownership to prevent and detect illegal activities and tax evasion. The requirements are similar to those currently found under the Canada Business Corporations Act and several other Canadian provincial corporate statutes.
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