23 June 2015

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Black Money Norway makes it compulsory to reveal the real owner of companies

Black Money Norway makes it compulsory to reveal the real owner of companies

Black Money Norway to Adopt Public Registry of Beneficial Ownership of companies

Norway is one of the honest country and ranks nearly higher in all indexes
Norway is one of the best country to live in if you want to enjoy the honesty, good life, good culture etc.

On June 5, the Norwegian Parliament voted to establish a public registry of corporate ownership information, becoming the latest country to tackle the abuse of anonymous companies through increased transparency.

Because of the above law now it will become compulsory for the companies
To publicly disclose in a central registry their ultimate, human, beneficial owner(s) is regarded as the gold standard in tackling the abuse of these phantom firms.

Understanding Anonymous companies?

When someone forms an anonymous companies the people never come to know the real owner of the company who enjoys the profits, who is the real owner of the company.

Thus it becomes easy for the criminals, terrorist organizations, corrupt politicians and corrupt company owners to hide their identity and it becomes easy for them to launder money, it becomes easy for them to covert black money into white money

Which other countries passed such laws which made compulsory to declare the real final ownership of the company, the real names of owners of the anonymous companies.
1-
UK – Passed such law in March 2015
2-
Denmark

3-
Now it’s Norway

4-
European Union is working on such type of law
The European Union (EU) also finalized a measure in May 2015 that, among numerous provisions, requires all EU member-states to create central registries of beneficial ownership information for companies established in their countries.

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Tuesday, 23 June 2015

Tags – Black Money Norway Anonymous Company Real owner