Fiji Makes Strides in Beneficial Ownership Disclosure Transparency Reforms

The Fijian government has made a significant move towards greater transparency by implementing beneficial ownership disclosure reforms. As of April 4, 2024, the country has committed to making public information about who really owns and controls businesses operating within its borders.

Increased Transparency through Beneficial Ownership Disclosure

Fiji has taken steps to increase transparency by requiring companies to disclose their ultimate beneficial owners. This move aims to combat money laundering, tax evasion, and other financial crimes that often rely on secrecy surrounding ownership structures.

Benefits of Increased Transparency

• Combats money laundering and tax evasion
• Increases accountability and reduces financial risks
• Enhances public trust in the business sector
• Supports good governance and anti-corruption efforts

Challenges Ahead

While Fiji has made progress, it is still working towards full implementation. The Open Ownership map shows that the country has not yet provided comprehensive information about its reforms or publicly disclosed details about who is behind the ownership of companies operating within its borders.

What’s Next?

As Fiji continues to work on implementing its beneficial ownership disclosure reforms, it will be important for stakeholders to closely monitor progress and provide feedback on any challenges or areas for improvement.

Getting Involved

For more information about Fiji’s beneficial ownership transparency reforms, including implementation details and commitment statements, please visit the Open Ownership map. If you have incorrect data or would like to submit new information, fill out this form.