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). Key recommendations include clearly defining the legal representative as the beneficial owner of an NPO, simplifying registration procedures, avoiding double administrative burdens, clarifying the status of foundations, and ensuring the proportionality of sanctions. The recommendations seek to ensure greater clarity for NPOs and prevent unnecessary administrative burdens in implementing the new requirements. Read more here.
Source: Partners Albania