Guidelines and Roadmap on the establishment and functioning of Beneficial Ownership Registry in Albania

Kaur Chhina, Ramandeep; Taymans, Alexander

Abstract

This paper identifies and analyses a range of issues to be addressed by the Albanian authorities to achieve their stated objective of compliance with the relevant FATF Recommendations and EU AMLD framework dealing with the establishment and access to beneficial ownership information. The key issues addressed in this paper include: i) analysis of the findings and main deficiencies outlined in the 5th Mutual Evaluation Report of Albania (MONEYVAL 2018/7) identifying key areas to be addressed by the competent authorities in Albania in relation to beneficial ownership; ii) discussion on the planning stage and implementation of the Beneficial Ownership registry in Albania, taking into account the experience and good practices in other relevant countries, to achieve compliance with the FATF/MONEYVAL Recommendations; iii) discussion on the challenges that might be faced in achieving accurate and reliable beneficial ownership information for legal persons and legal arrangements, including the challenge of maintaining the register up-to-date; iv) discussion on the legal implications and necessary changes to the legal framework in Albania, including the level of and basis for access to the register; and v) provision of a roadmap for the establishment of the BO register in Albania.

Citation

Kaur Chhina, R., & Taymans, A. (in press). Guidelines and Roadmap on the establishment and functioning of Beneficial Ownership Registry in Albania. Council of Europe

• Report Type: Technical Report
• Acceptance Date: Apr 1, 2019
• Deposit Date: Jul 30, 2019
• Keywords: Albania
• Public URL: http://researchrepository.napier.ac.uk/Output/1759939