According to international assessments, the concept of the authorized person is the most significant innovation of the Slovak RPVS and the main reason why the registry is frequently cited worldwide as a best practice. In its study “Verification of Beneficial Ownership Data in Austria, Germany, and Slovakia,” Open Ownership rates the Slovak model as one of the most advanced and robust mechanisms for verifying beneficial ownership data in Europe.
A distinctive feature of the Slovak model is its reliance on professional service providers—lawyers, notaries, auditors, banks, and tax advisors based in the Slovak Republic—who, based on a written agreement, verify and register information about beneficial owners. The legislature designated them as gatekeepers precisely because they have the standing and experience as obligated entities under AML legislation. Unlike most countries, where UBO registries are based on the principle of self-declaration by companies, Slovak law has placed a mandatory professional verifier between the public sector partner and the registry.
The key elements that international evaluators particularly highlight form a comprehensive verification system. The independence of the authorized person in identifying KÚV ensures that verification is not merely a formal procedure. The verification document—a formal record of the KÚV identification process with a description of the procedure—serves as an auditable trail. The professional responsibility of the authorized person, who risks disciplinary, legal, and reputational consequences, creates a strong incentive to act thoroughly. And regular verification—not only at the time of initial registration but also on an ongoing basis throughout the duration of the contractual relationship with the state—ensures that the recorded information remains up to date.
International evaluators particularly highlight several key elements of this mechanism. The authorized person is independent in identifying the KÚV—they cannot rely solely on the partner’s declaration but must conduct their own verification of the ownership and management structure. The result of this verification must be documented in a verification document: a formal record of the KÚV identification process, including a description of the procedure, which serves as an auditable trail for any subsequent review.
A key and internationally unique element is shared responsibility for data accuracy—the authorized person guarantees the truthfulness of the information together with the public sector partner. Most countries rely exclusively on companies’ self-declarations; Slovakia is an exception in Europe, where a third party shares this responsibility. The authorized person risks disciplinary, legal, and reputational consequences, which creates a strong incentive to act thoroughly.
Verification is not a one-time process. The law mandates regular verification—not only at the time of initial registration but also on an ongoing basis throughout the duration of the contractual relationship with the state. This regular re-verification is another element absent from other European systems and considered exceptional by international evaluators.
Open Ownership highlights the measurable positive effects of the Slovak system, including a high degree of transparency and a strong deterrent effect in public procurement. The World Bank also notes that a key challenge for ownership transparency is ensuring the accuracy of data on ultimate beneficial owners.
The Slovak model is frequently cited in international analyses as an innovative example of addressing this challenge through professional data verification and the accountability of authorized persons.
