The Institute of Directors has supported the Government's efforts to "shine a light" on shell companies.
Roger Barker, director of corporate governance and professional standards at the institute, said:
From a governance perspective, it is right that the true owners of companies should be transparent both to the company itself and the wider business community.
Using the corporate veil to obscure underlying ownership brings the corporate sector into disrepute and creates significant opportunities for wrongdoing or criminal activity.
More top news
Two people are being treated in hospital after an "explosion" in a flat in West Dunbartonshire.
Tom Billings, 22, went missing in Canada in December 2013 during an eight-week trip of North America.
Minh Quang Pham was sentenced in a US court for three counts of terrorist-related activity.