Govt approves sending data about beneficiaries of Ukrainian companies to global register
Ukraine's Cabinet of Ministers has approved sending information about beneficiaries of Ukrainian companies from the unified register of companies and individual businessmen to the global register of beneficial ownership.
The decision was made at a government meeting on Thursday.
Ukrainian Prime Minister Volodymyr Groysman announced this resolution among those approved without discussion.
"The Ukrainian state initiates the signing of a memorandum with Transparency International on joining the Ukrainian business register the global register of beneficial ownership to implement the Global Declaration Against Corruption that Ukraine joined in 2016," Justice Minister Pavlo Petrenko said.
He said that thus, Ukraine is becoming the first country in Europe making the decision to transfer data on beneficiaries of its companies to the global register.
"This is a serious step to admitting Ukraine's steps during three years regarding openness, transparency and fight against corruption. I think that next week the memorandum signing ceremony will take place with participation of the prime minister… Ukraine will be the first in Europe that joined the global register being designed by U.S. partners and Transparency International," Petrenko said.
During one month the volume of information that would be transferred from the Ukrainian register to the global register will be determined.
In addition, the resolution sets a fee for the provision of information from the unified register of companies and individual businessmen. The fee is not collected for the provision of information about beneficiaries for it integration into the global register.
The global register of beneficial ownership is being created under the OpenOwnership international project developed by leading nongovernmental organizations combating corruption, such as Global Witness, Open Contracting Partnership, Web Foundation, Transparency International, ONE Campaign, B Team and OpenCorporates.