Bhutan is currently undertaking beneficial ownership reforms as part of its commitment to enhancing financial transparency and mitigating corruption. Although it has the enabling conditions for impactful beneficial ownership transparency (BOT) reforms, there may be scope to improve the existing legislative framework and technical infrastructure for effective BOT implementation.
The World Bank has engaged Open Ownership to execute a technical assistance project in Bhutan. This project aims to support the effective implementation of beneficial ownership reforms and bolster legal frameworks in alignment with Financial Action Task Force (FATF) Recommendations 24 and 25.
To ensure that Open Ownership’s (OO) technical assistance is contextualized to the Bhutanese legal and institutional environment, this consultancy seeks to engage a Bhutan-based legal expert, either an organisation or an independent consultant, to work with the OO team, the World Bank, and other national partners to review the existing legal frameworks pertaining to BOT; identify gaps in the statutory instruments and associated regulations; and provide concrete recommendations designed to align Bhutan’s regulatory framework with the FATF standards and planned registry system requirements.
Location: Bhutan
Time required and budget: The consultancy will be for 17 working days between May-July 2025. A maximum daily rate of USD 550 will be paid, based on qualifications and experience. The total contract value will not exceed USD 10,000, inclusive of all taxes and expenses.
Full details: Please read the full Terms of Reference
Open Ownership (OO) believes that information on the true owners of companies is an essential part of a well-functioning economy and society. We help countries generate high quality data on company ownership that complies with international standards and meets the needs of data users across government, civil society, and the private sector. This means facilitating beneficial ownership (BO) disclosures that are accurate, well structured, complete, and machine readable. By supporting people and organisations to use this data, OO helps governments reduce risks in areas such as illicit financing, corruption, and tax evasion, and build trust and development opportunities across society.
Our multidisciplinary team works closely with technical and policy implementers, advising them on all aspects of beneficial ownership implementation. To support our donor-funded technical assistance programmes, we have developed a broad range of implementation tools and products, including the Beneficial Ownership Data Standard and the Open Ownership Principles for effective beneficial ownership disclosure (OO Principles).
