Ensuring Public Access to Beneficial Ownership Data (LT0030)
Action Plan: Lithuania Action Plan 2021-2023
Action Plan Cycle: 2021
Lead Institution: State Enterprise Centre of Registers (hereinafter ‘the Centre of Registers’)
Support Institution(s): Ministry of Justice; Public consultations have taken place during the preparation of the legislation required to ensure the functioning of the JADIS Subsystem of Beneficial Ownership. The legal preconditions are already in place, and now the works of the development of the subsystem are carried out. Where appropriate, public consultations with stakeholders may take place.
Policy AreasAccess to Information, Anti-Corruption, Beneficial Ownership, E-Government, Open Data
Status quo and problem addressed by the commitment
Status quo: Directive (EU) 2015/849 obligates Member States to ensure that beneficial ownership information is stored in a central register of each Member State. This requirement is transposed into Lithuania’s national law through the Law on Prevention of Money Laundering and Terrorist Financing, which provides for obligation for legal entities to obtain, update and store accurate information on their beneficial owners and submit this information to the Information System of Participants of Legal Entities (in Lithuanian: JADIS). Although Article 25(1), which stipulates this obligation, entered into force on 1 January 2019, Lithuania has failed to put in place JADIS Subsystem of Beneficial Ownership to date, as no public funds have been allocated to this effect.
The problem: absence of JADIS Subsystem of Beneficial Ownership to collect beneficial owners’ data needed to prevent money laundering and terrorist financing and to combat informal economy; Directive (EU) 2015/849 is not implemented, and public access to beneficial ownership data is not ensured.
Problem solution/commitment: Put in place JADIS Subsystem of Beneficial Ownership to handle data of beneficial owners of legal entities
Main objective: Up and running JADIS Subsystem of Beneficial Ownership
How will the commitment contribute to the public problem? The JADIS Subsystem of Beneficial Ownership will provide for the collection of beneficial owners’ data needed to prevent money laundering and terrorist financing and to combat informal economy; Directive (EU) 2015/849 will be implemented and public access to beneficial ownership data will be ensured.
What steps will be taken towards this objective? Distribute steps and expected outcomes over time
Step and its description Expected practical outcome Start date End date 1. Designing Drawing up: designing documentation, architectural documentation, etc. 29/03/2021 09/07/2021 2. Preparing for development Transfer of analysis results to the task management system, agreeing on the prototype, procurement of development competencies 05/04/2021 09/07/2021 3. Development Software ready for installation. Ongoing programming and software configuration works meeting functional and non-functional requirements 12/07/2021 29/10/2021 4. Testing The developed software introduced in a testing environment; acceptance testing scenarios and testing methodology and plan have been prepared; successfully completed acceptance testing 23/07/2021 10/12/2021 5. Preparedness of business, and trial launch The developed software introduced in production environment 01/12/2021 31/12/2021 6. Launch of the system System launched for the use of consumers 01/01/2022
How is the commitment relevant to the values of transparency, accountability, and civic participation? This commitment will open up data and increase public access to information: Once the commitment has been fulfilled and the Information System of Participants of Legal Entities (JANGIS) has become operational, any interested party will be able to access a very wide range of information regarding beneficial owners of legal entities (such as legal entity code, name, head office; date of last revision; beneficial owner’s given name and surname, year and month of birth, country of residence, nationality, ownership and/or control rights; scope of ownership rights (shares or voting rights) held by the direct owner (percentage). The commitment will improve conditions for civil society. The commitment will improve conditions in terms of increasing public sector accountability for their actions. Once the commitment has been fulfilled, the beneficial owners’ data will be accessible to society, whose active citizens will be able to better judge the interests of those involved in public administration and make a direct influence when electing representatives of state institutions.