Business owners will provide data on shareholders when registering in Tajikistan

Almaty. May 25. Silkroadnews – Tajikistan has changed the law on business registration after the publication of documents on offshore companies by the Panamanian law company Mossack Fonseca, Tajik Telegraph Agency (TajikTA) reported on Wednesday.

“New version of the law “On state registration of legal entities and individual entrepreneurs” has been adopted in Tajikistan,” the parliament’s representatives informed.

From now on, according to the amendments accepted, each citizen planning to create the company in Tajikistan shall provide information about the owners of the citizens’ companies registered in the offshore zones.
President of Tajikistan Emomali Rahmon signed the new law version on May 14. In few days’ time the law came into force.

Henceforth, a company or a private enterprise should submit to the registration authorities not only the list of founders, but also the data on the shareholders of newly created structure (previously mandatory requirements included only the data on founders, while the list of shareholders was optional).

The purpose of these legislative changes is to ensure transparency in the economy and trade with foreign countries.
According to the publication, the change of the law in business registration in the Republic of Tajikistan took place against the background of the scandal with the “Panamanian documents” revealing, among others, the names of few citizens of Tajikistan who have registered offshore companies.