The content of the analysis you can find here

The problem of anonymity of ownership of recipient of public funds, in particular in relation to recipients of subsidies and public contractors is a matter which concerns every citizen and tax payer. Czech Republic – similarly to certain other states of the European Union – do not do anything to remedy this problem. Competent public institutions and bodies allow redistribution of public funds to a number of companies which conceal their ownership structures and true beneficial owners.

Experts of Good Governance prepared detailed analyses of recipients of funds from regional operation programmes for the period 2007 – 2013.

Out of the total number of 464 projects in which the recipient was a business company, in total 123 projects in the value of CZK 3.397.772.836 (EUR 125.843.438)the beneficial owner of such business companies could not be identified. These business companies had their corporate ownership structure anonymised by use of anonymous bearer shares where the owner can change at any time or by use of registered paper shares without any public information about their owner. This group of recipients presents the highest risk since the state and public bodies do not have any possibility to find out whether the granted public money to those companies are not used for financing of corruption or criminal activities.