Verification of beneficial ownership data: memo

Though Ukraine is a front-runner in disclosing information about companies’ beneficial ownership, subject legislation still contains loopholes and is implemented only partially, while lack of effective sanctions can cause the reform never going beyond progressive legislation.

In 2018, under EU-Ukraine Memorandum of Understanding on Macro-Financial Assistance, Ukraine obliged to introduce a number of measures to optimise beneficial ownership verification.

In this brief, AntAC experts are explaining what is done with regards to beneficial ownership verification in Ukraine, and what steps are to be taken in this sphere.