Based on the changes to the Finnish Act on Money Laundering most companies must notify the Trade Register about their beneficial owners.

When?

It has been possible to file the notifications from July 1.st, 2019. Due date for filing the notification is July 1.st, 2020. After the initial notification, notifications need to be filed every time when the information changes or a new company is established.

Who Doesn’t Need to Notify?

Organizations, which don’t need to file the notification are listed companies, private traders, housing companies, mutual real estate limited companies, associations, foundations and religious communities.

Companies, which under some circumstances need to file the notification are general- and limited partnerships. Notification needs to be filed only if the beneficial owner is not a partner in the company.

The branch of a foreign trader must file a notification of beneficial owners in accordance with the legislation of the trader’s home country.

Who Needs to Notify?

Main types of companies, which need to file the notification are limited liability companies, public limited companies, co-operatives, European economic interest groupings and European companies (Societas Europaea).

Note that a notification needs to be filed for the companies under the obligation even if there are no beneficial owners as defined by the Finnish Act on Money Laundering!

Filing the notification is free of charge and it needs to be filed in Finnish or Swedish.

Need More Info?

For more information about filing the notification, see Finnish Patent and Registration Office website. https://www.prh.fi/en/kaupparekisteri/beneficiaries_will_be_registered_from_1_july_2019.html

Need Help with the Notification?

When you need help with filing the notification or have any questions regarding the process, please contact our specialist via e-mail or call +358 503 220 600.