Implementing beneficial ownership transparency in the Kyrgyz Republic extractives sector — findings and recommendations
About Open Ownership
Open Ownership is a global initiative to end corporate secrecy being driven by the world’s leading transparency organisations and allied businesses. These include Transparency International, Global Witness, Open Contracting Partnership, the ONE Campaign, the B Team and OpenCorporates. Initial funding was provided by the UK Department for International Development.
Our work focuses on three connected strategic priorities:
- Building the world's first global beneficial ownership register and data standard: The Open Ownership Register is an easy-to-use, cloudbased, platform that aggregates beneficial ownership information from multiple sources and makes it available for free to all. Data comes from regulatory sources such as national companies registers and the Extractive Industries Transparency Initiative and is also self-submitted by companies. The Open Ownership Register currently contains beneficial ownership information for over 5 million companies from over 20 countries.
The Beneficial Ownership Data Standard (BODS) is a template for describing beneficial ownership information; data that is in BODS format can be easily linked with other data in BODS format, through the Open Ownership Register and elsewhere. BODS is being developed in collaboration with dozens of international experts in company data and technical standard-setting. It enables beneficial ownership data to be interoperable, more easily reused, and of higher quality.
- Supporting the implementation of beneficial ownership transparency: We are helping governments implement beneficial ownership regimes, working across the spectrum of technical, administrative, and policy/regulatory issues that affect the usability of published data. Through the Open Ownership Pilot Programme we are partnering in depth with strategic countries – including Kyrgyz Republic – to support implementation and identify lessons that can assist other countries implementing beneficial ownership regimes. We will draw these lessons together into a suite of guidance documents and tools for implementers.
- Developing and sharing beneficial ownership best practice: We also work to increase awareness of the importance and utility of high quality public beneficial ownership data. This means sharing success stories, case studies and best practice through relevant networks internationally.
Next page: The Utility of Public Beneficial Ownership Information