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Beneficial Ownership Declaration Generator for GeM

Generate Beneficial Ownership Declaration for GeM (Government e-Marketplace)

Just enter the few details and click on Generate button to get your Beneficial Ownership Declaration (BOD)

You can download the format of Beneficial Ownership Declaration here

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FAQ

What is Beneficial Ownership Declaration?

Beneficial ownership compliance on GEM is a set of rules and regulations that govern the identification and disclosure of beneficial owners of entities registered on the Government e-Marketplace (GEM). The rules are designed to prevent the use of GEM for money laundering, terrorist financing, and other illicit activities.

Why Beneficial Ownership Declaration is required?

The beneficial ownership rules on GEM are a significant step in the fight against financial crime. By requiring entities to identify and disclose their beneficial owners, the rules make it more difficult for criminals to use GEM to launder money and finance terrorism.

Here are some of the benefits of beneficial ownership compliance on GEM:

  • It helps to prevent money laundering and terrorist financing
  • It helps to combat corruption
  • It helps to improve transparency and accountability in the public procurement process
  • It helps to protect the interests of the government and the public