Beneficial ownership regulation: Slovakia and selected countries
Beneficial ownership regulation: Slovakia and selected countries

Author(s): Daniel Zigo
Subject(s): Law, Constitution, Jurisprudence, Law on Economics, EU-Legislation, Commercial Law
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: beneficial ownership; AML directives; register of beneficial owners; corporate structure transparency; company ownership;
Summary/Abstract: In recent years, especially within the European Union, Anti-money Laundering (AML) legislation has intervened in business law and introduced significant regulatory obligations in the area of registration of beneficial owners of companies. Although this regulation in the EU member states is based on the EU directives law, there is a relatively wide scope for its implementation and individual member states use different mechanisms of its operation, verification of data or sanctions. Slovakia differs from other countries in that there is a double regulation of beneficial owners for two different purposes. In this paper, we analyse the legislation and practice in the regulation of beneficial ownership in selected countries and describe our findings regarding the similarities and differences of individual models. In our research, we also focus on the possibility of implementing innovative regulation models in the Slovak Republic, where two different legal regulations are not addressed in an effective manner.

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