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
The US is "fully prepared" to launch a military conflict with North Korea, Donald Trump has warned.
Windy wet weather works its way in
Jeremy Corbyn has told ITV News that the possibility of a run on the pound if Labour takes power is a "serious" concern.