Over 5 thousand entities declare beneficial owners/ 27% more than a year ago, increasing transparency
The year 2025 has marked a significant increase in awareness and compliance with legal obligations by businesses regarding the declaration of beneficial owners, one of the key pillars of transparency and the fight against money laundering in Albania.
According to official data from the Central Bank of Kosovo, last year 5,356 entities declared their beneficial owners in the relevant Registry, marking an increase of 27% compared to 2024.
This positive trend reflects not only an increase in formal compliance with the law, but also a gradual change in business culture, where transparency is increasingly seen as an added value and not simply as an administrative obligation.
A beneficial owner is considered to be a natural person who owns or controls, directly or indirectly, a legal entity, or on whose behalf a transaction or economic activity is carried out. His identification is essential to prevent the concealment of real ownership through formal structures, nominal partners or shell entities.
Accurate declaration of beneficial ownership increases market transparency, strengthens the trust of financial institutions, partners and investors, helps prevent money laundering and terrorist financing, and avoids the use of business for illegal purposes.
The declaration of the beneficial owner is a legal obligation for all entities registered with the National Business Center, with the exception of natural persons.
According to the law, every entity must declare the beneficial owner within the legal deadline after registration, update the data whenever there are changes in the ownership or control structure, as well as ensure the accuracy and consistency of the declared information.
To facilitate the fulfillment of this obligation, the Central Bank of Kosovo has created the possibility for the declaration and updating of beneficial owners to be carried out online, through the official electronic platform. The process is integrated, fast and minimizes the administrative burden for entities, eliminating the need for physical presence.
The law provides for hefty fines for businesses that fail to file timely information about their owners or shareholders. Administrative penalties range from $500 for non-compliance with deadlines, to $6,000 when authorities determine that the failure is intended to conceal important information about the financial resources of their owners or shareholders.
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