Beneficial Ownership Transparency: A Guide for Parliaments

What is Beneficial Ownership Transparency?

BOT is an area of policy reform relating to the systematic, up-front disclosure by corporate vehicles of their beneficial ownership to a central register maintained by the government. It involves identifying the beneficial owners, who are defined as the actual individuals situated at the final link of an ownership chain. These individuals possess the ultimate right to a portion of a corporate vehicle’s income or assets and have the authority to control its activities or derive substantial benefits from its assets. This information is typically collated, verified and made available to a set of users or to the general public.

While companies are the most familiar legal structures for which beneficial ownership information is commonly gathered, the scope has expanded to encompass a growing array of corporate vehicles, including trusts, partnerships and foundations. The significance of BOT lies in its role in revealing the true individuals who ultimately own, control and benefit from these corporate vehicles, promoting accountability, preventing illicit activities, and fostering a more transparent and trustworthy business environment.

"The significance of BOT lies in its role in revealing the true individuals who ultimately own, control and benefit from corporate vehicles."

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