Latvia keeps beneficial ownership data public, Estonia restricts access

Latvia has found a way to keep beneficial ownership data for companies publicly accessible. Unlike Estonia, where access will be restricted, in Latvia individuals must submit a separate request to have their data hidden.

Estonia and Latvia have chosen opposite approaches to publishing beneficial ownership data for companies. Estonia is restricting access to beneficial ownership information, while Latvia has found a solution in its legislation that keeps this data publicly accessible.

Latvia's approach differs fundamentally from Estonia's: if Estonia's default direction is to restrict data disclosure, Latvia's system works in reverse. There, a person wishing to conceal their data must submit a separate request to do so, not the other way around.

A public beneficial ownership register is an important tool in the fight against money laundering and tax fraud. Open data enables journalists, investigators, and citizens to verify who actually stands behind companies and who benefits from business entities.

The change planned in Estonia reduces the amount of freely available information in society, which could hinder both investigative journalism and background checks by business partners. Latvia has opted for transparency, and this solution sends a clearer signal that the public interest outweighs data protection considerations in this area.