Partners Albania submitted comments and recommendations on the draft Law on the Register of Beneficial Owners, currently under public consultation. While recognising the initiative as important for strengthening transparency and accountability, PA highlights several provisions requiring clarification and improvement, particularly regarding their application to non-profit organisations (NPOs). Its key recommendations include clearly defining the legal representative as the beneficial owner of an NPO, simplifying registration procedures, avoiding double administrative burdens, clarifying the treatment of foundations, and ensuring proportionate administrative measures. The recommendations aim to contribute to a clearer and more effective framework for NPOs while ensuring that transparency requirements do not create unnecessary administrative burdens. Read more here.
Source: Partners Albania