Skip to content

Notifications

Non-urgent government operations are closed December 24 to January 1, reopening January 2. View available services during this period.

Notifications

Government mail service may be affected by the Canada Post labour disruption. Learn about how critical government mail will be handled.

Popular topics:

Alberta.ca Account
Part of Search public engagements

Beneficial ownership engagement

The business community, including Indigenous businesses, were able to share input on proposed legislative amendments to the Business Corporations Act.

Overview

We sought feedback on proposed changes to the Business Corporations Act. The proposed changes would require private companies in Alberta to keep records about who owns or controls them, known as their beneficial owners, and make this information available to government authorities if needed.

We asked how this requirement might affect private Alberta companies, including any challenges or extra work involved in identifying beneficial owners and confirming their status as private companies.

Status

  • Open

  • Results under review

  • Completed

Who is listening

Service Alberta and Red Tape Reduction

Corporate ownership definitions

  • Beneficial owner

    A beneficial owner refers to the natural person(s) who, through direct or indirect means, exercises ultimate ownership or controls an interest of a privately held, non-distributing corporation. They are the real person who ultimately owns or controls a private company, even if their name doesn’t appear on official documents.

  • Private company

    A private company (also called a non-distributing corporation) is one that doesn’t sell shares to the public, isn’t listed on the stock exchange, and doesn’t file reports with a securities commission.

  • Non-distributing corporation

    A non-distributing corporation is a company that does not offer or distribute shares to the public. The term is defined under the Canada Business Corporations Act.  A non-distributing corporation does not file documents with a securities commission and does not sell shares on a stock exchange. These are commonly referred to as private corporations.
     

Input received

Online survey

Stakeholders were able to provide feedback on proposed changes to the Business Corporations Act through an online survey from August 12 to September 11, 2025.

Written feedback

Stakeholders were also able to share written feedback through email from August 12 to September 11, 2025.

Outcomes

Feedback will help to inform new government policies and contribute to the development and implementation of amendments to the Business Corporations Act.

Contact

Connect with the Beneficial Ownership engagement:

Email: [email protected]