Punish corruption by preventing corrupt bidders and those who seek to hide their beneficial owners from accessing public contracts and procurement by establishing accessible central databases and address ways of sharing information on corrupt bidders across borders.
Themes: Beneficial ownership
Last updated: December 2020
Concrete: Concrete | New: New | Ambitious: Ambitious
On the application of paragraph 9 of the first part of Article 17 of the Law of Ukraine "On Public Procurement"
Open Ownership Beneficial ownership Tracker - Ukraine
YouControl: Check Contractors and Follow their Changes
Open Ownership Register
Memorandum initiated by Global Partnership on the Information Disclosure on Beneficial Ownership signed on May 22nd
Getting out of the shadows: about the discovery of real owners of companies in Ukraine
The SFS signed a Memorandum on cooperation in developing a mechanism for verifying information about the beneficial owners
According to the Law on Public Procurement, the contracting authorities could reject the participant in the procurement procedure if information about beneficial owner of this participant in Unified State Register submitted with violations of the Law on State Registration. But this procedure is conducted individually by each procurement specialist or other person authorized to conduct procurement, currently, this process is not automatized.
On August 16, the Ministry of Justice launched a new Unified State Register of Legal Entities, Sole Proprietors and Public Associations (USR), where improved format of fields for information about beneficial owners was introduced. According to the new AML Law that also came in force this year, all legal entities have to update their information about beneficial owners in the Register. Failure to submit updated information could lead to fine on the head of the company or a person authorized to act on behalf of a legal entity (executive body), from 17,000 to 51,000 UAH.
Ukraine shares its beneficial ownership register with global OpenOwnership register, but this information still needs improvement: verification and transliteration.
Updated: October 31, 2020
Ukraine shares its data on beneficial owners with Open Ownership global register. However, data is not comprehensive and not of good quality. Via the civic Business Intelligence module it is possible to check the beneficial owners of the bidders via YouControl database.
Updated: April 30, 2020
Ukraine was one of the first countries in the world to pass a law on beneficial owners. This document, adopted in October 2014, was supposed to shed light on real company owners.The law on beneficial owners obliges Ukrainian companies to inform who is the final recipient of profit. When a company is registered, it is mandatory to specify such individuals. All this information is stored in the Unified State Register (USR). Ukraine is the first country to agree to share all information on beneficial owners with the international Open Ownership register. This is an attempt to make a register of all beneficial owners of every company worldwide. But there are a couple of obstacles to ensuring full exchange of data:the data are often recorded in Cyrillic letters, so a foreigner will have a problem finding the necessary company;the data are not always updated as necessary;only a minority of companies have already filed the necessary information. These issues are expected to be solved according to the signed, in July 2019, Memorandum of Cooperation on Developing a Verification Mechanism for Information on Ultimate Beneficial Owners.
Working group is created among state institutions to work on improving the beneficial ownership register and information on beneficial ownership must be submitted during the bid according to the law.
Updated: May 30, 2019
Memorandum on the Information Disclosure on Beneficial Ownership signed on May 22nd 2017 has implementation date 31 December 2017. Since it was signed no improvements have been done.
Updated: October 30, 2018
Memorandum initiated by Global Partnership on the Information Disclosure on Beneficial Ownership signed on May 22nd 2017. No change since 2017.
Updated: July 30, 2018