Beneficial ownership transparency in Latin America: Lessons from Chile and Mexico

Abstract

This study analyses the progress and challenges in implementing beneficial ownership registers in Latin America through the cases of Chile and Mexico. Although neither country has yet established a fully operational centralised national register, both have developed sectoral mechanisms that lay the foundations for more integrated models. Chile has advanced through a specific draft law and the use of beneficial ownership data in public procurement, while Mexico has promoted registry interoperability and pilot initiatives at the subnational level. The analysis, drawing on legal, institutional, and technical frameworks, evaluates the hypothesis that the absence of conditions for adopting a centralised register can be addressed through a progressive, sector-based approach. The findings show that the trajectories of Chile and Mexico offer practical guidance for advancing towards interoperable, verifiable, and effectively used information systems across the region.