Greenland Moves Forward with Beneficial Ownership Disclosure Rules, Launches Live Register

In a significant step towards enhancing transparency and accountability in its financial sector, Greenland has implemented beneficial ownership disclosure rules, effectively launching a live register for companies.

Background

The move follows the launch of one or more beneficial ownership registers, marking the country’s official transition to being labeled as a “Live register”. According to publicly-available sources, the Greenlandic Parliament implemented the Danish Companies Act with effect from January 1, 2018, dissolving the Greenlandic Business Register (GER) and automatically transferring all registered companies to the Danish Business Register (CVR). This significant reform aims to improve transparency in corporate ownership structures.

Implementation Details

The implementation of beneficial ownership disclosure rules was realized through the introduction of the Danish Companies Act. This reform has far- reaching implications for corporate transparency and accountability in the country.

• The Greenlandic Parliament’s commitment to beneficial ownership disclosure is a major step forward in enhancing transparency in the financial sector.
• The live register will provide detailed information on company ownership structures, allowing for greater insight into corporate dealings.
• The move aims to improve accountability by making it easier to identify and track beneficial owners of companies.

Additional Information

For further information on Greenland’s commitment to beneficial ownership disclosure, users can access additional details by clicking on the link provided.

Open Ownership Map

The data on the Open Ownership map may not be comprehensive for all countries, including those marked in grey, where information is lacking. If errors are detected or new data is available, users can submit corrections through a dedicated form.