EITI Armenia is testing the BO online declaration platform

EITI Armenia is testing the BO online declaration platform

Within the scope of the implementation of the EITI in Armenia the software for the Beneficial Owners (BO) online register is being developed. An online Presentation-training on the test version of the BO online declaration submission platform took place on 3 December, 2020. During of the training the representatives of the VXSoft company introduced the software և carried out a test of the e-platform.

The presentation-training was attended by the 22 representatives of the mining companies,  Ministry of the Territorial Administration and Infrastructure, Ministry of Justice, The Agency for State Register of Legal Persons,  EITI national Secretariat and the World Bank. The training participants expressed their opinions on the system presented, as well as made comments and suggestions, which were summarized during the follow-up video call on December 7.

The companies’ representatives participating in the training noted, that the online register will significantly facilitate the process of filling out and submitting BO declarations, and the published data will be more accessible to users. The representatives of VXSoft company assured that the received comments and observations will be taken into account and at the beginning of the year 2021, when the register is launched, the companies obliged to submit BO declaration will be able to complete և submit them online.

In the second session of the online training, the issued connected with the processes of filling out BO paper-form declarations, submitting declarations by authorized persons, obtaining documents certifying the BO ownership from foreign countries and presenting those to the authorized body in due time impeded because of the COVID-19 pandemic were discussed. The EITI national secretariat provided the relevant clarifications on a number of issues. The participants agreed to hold an online meeting with the representatives of the relevant state bodies in the near future in order to discuss other issues encountered by the companies’ representatives.

The BO online register software is developed in the scope of the World Bank's "Support to the EITI of Armenia” Project implementation.