Here’s the article in markdown format:

Slovakia Leads the Way in Beneficial Ownership Transparency

===========================================================

As calls for greater corporate accountability continue to grow around the world, one country has taken a significant step forward in promoting beneficial ownership transparency. Slovakia, a member of the Beneficial Ownership Leadership Group, has been at the forefront of implementing public registers that shed light on who really owns and controls companies.

The Momentum Behind Beneficial Ownership Transparency

The momentum behind beneficial ownership transparency is building rapidly, with over 90 countries committed to some form of disclosure. But for many governments, the challenge lies in translating this commitment into effective action. Slovakia’s experience offers valuable lessons for other countries seeking to establish beneficial ownership transparency as a routine aspect of corporate activity in the 21st century.

Slovakia’s Experience: A Model for Others

In 2017, Slovakia established its Register of Public Sector Partners (RPVS), which requires private entities providing goods and services to the public sector or acquiring assets from them to disclose their beneficial owners. The register has been instrumental in exposing alleged cases of wrongdoing, with over 78,600 beneficial owners registered as of June 2020.

According to Zuzana Wienk, Co-Founder of Fair Play Alliance and Open Government Partnership Slovakia, “For a long time anonymous companies were seen as an elite problem that didn’t affect people. Now the practices of companies are becoming more open, the system is working, culture is changing.”

Key Statistics: Slovakia’s Beneficial Ownership Register

Established: 2017

Scope: Private entities that provide goods and services to the public sector or acquire assets from them

Beneficial Owners Registered: 78,608 (as of June 2020)

Companies Registered: 28,358 (as of June 2020)

Data on the Global Register: Yes

The RPVS is accessible via https://rpvs.gov.sk/rpvs.