Dominican Republic Takes Steps Towards Beneficial Ownership Transparency

The Dominican Republic has made significant commitments to beneficial ownership transparency in recent years. This effort aims to bring greater clarity to the country’s economic landscape and promote a more transparent financial sector.

Commitments Made at the 2023 Summit for Democracy

At the 2023 Summit for Democracy, the Dominican Republic committed to implementing effective measures for beneficial ownership transparency. The key points of this commitment include:

• Maintenance of a Beneficial Ownership Registry: The country has pledged to maintain a registry or an alternative mechanism that provides greater transparency and accountability in its financial sector.
• Accountability and Transparency: This commitment is expected to bring about significant improvements in the country’s transparency and accountability standards.

Extractives Industry Transparency Initiative (EITI) Membership

As part of its membership with EITI, the Dominican Republic has also committed to implementing beneficial ownership transparency measures for the extractive sectors. This move is aimed at enhancing accountability and transparency in the country’s natural resource management.

Implementation Details and Progress

The implementation details of these commitments are currently being developed. However, it is clear that the Dominican Republic is taking significant steps towards enhancing its beneficial ownership transparency. As the country continues to work on implementing these measures, we can expect to see a significant improvement in its transparency and accountability standards.

Updated Data and Contact Information

Records show that the data on beneficial ownership transparency in the Dominican Republic has been updated as of June 11, 2024. For those interested in learning more about the country’s progress or would like to provide additional information, please contact Rodrigo Felix Montalvo at [insert contact details].