The Justice Ministry of Ukraine and state-owned enterprise (SOE) National Information Systems (NAIS) will receive technical assistance from the OpenOwnership group for further technical improvement of the unified public register of companies, individual entrepreneurs and nongovernmental organizations, according to a posting on the government's website.
"Together, we will introduce changes that will allow integrating data from the Ukrainian beneficiaries register into the global register of beneficial owners [OpenOwnership register] by 2020," Justice Minister Pavlo Petrenko wrote on his Facebook page after signing a partnership agreement between the Justice Ministry, NAIS and a representative of the OpenOwnership management team in Copenhagen.
According to him, the "pilot" technical assistance program of OpenOwnership will ensure cooperation in transferring data on real owners of companies from the national register to the global register of beneficial owners, as well as preparing the necessary legislation for this.
Petrenko also announced the signing of data exchange protocols between NAIS and OpenOwnership in the near future.
"The focus will be on strengthening the sanctions against the head of a legal entity for failure to provide information about the ultimate beneficiary," he said.
