Re: Land Owner Transparency Report
For almost a year now we have had to file a Land Owner Transparency Declaration whenever one of our clients purchased a property. If the clients were using a company, trust or partnership as the registered owner, we have had to file a Land Owner Transparency Report.
That was easy, now comes the hard part. For those companies, trusts or partnerships that own property, they now need to file a transparency report for each property that they own. As of last week, the Land Title and Survey Authority told me there was approximately 200,000 – 300,000 properties owned by such companies, and only 1,100 had already filed.
You will be hearing a lot more about this over the next month or two, but we are sending this out to let you know we are assisting clients who need help with this report. If you have clients that owned property in the name of a company, trust or partnership and the property was purchased prior to December 1, 2020, and they need assistance with this report, have them email us at firstname.lastname@example.org and we will take it from there.
The deadline to file the Transparency Report is November 30, 2021, and given the numbers above there are a couple hundred thousand to get filed, so do not let your clients procrastinate.
As always, thanks for the support.