Limited liability companies and co-operatives: File a notification of beneficial owners with the Finnish Trade Register immediately free of charge
Most companies – such as limited liability companies and co-operatives – must file a notification of their beneficial owners with the Finnish Trade Register. If your company still has not filed a notification of its beneficial owners, do it immediately.
File a notification also whenever the details of the beneficial owners change or when a new company has been registered.none The notification is free of charge.
A separate notification of beneficial owners must be filed even if the details of the board of directors, or other persons responsible for the company, are up to date in the Finnish Trade Register, and the owners of shares are given in the start-up notification.
What happens if I do not file the notification?
It may become difficult for the company to carry out its operations if it does not file its beneficial owner details and keep them up to date.
Business partners see in the company’s Trade Register extract if the notification of beneficial owners has not been filed.
For example, banks, accounting firms and law firms are obligated to check the beneficial owner details of their customers. They can report to the Finnish Patent and Registration Office about any deficiencies or inconsistencies in the company’s details.
Under the Finnish Business Information Act, a fine can be imposed on a person who neglects the notification obligation.
Who is a beneficial owner?
A beneficial owner is a person who, for example, owns more than 25 percent of the company shares or of the voting rights directly or through another company, or exercises control over the company based on, for example, a partnership agreement.
The company must file a notification even if the company has no beneficial owners or it does not know them.
Which companies file a notification?
Limited liability companies and co-operatives must always file a notification of beneficial owners.
General partnerships or limited partnerships file a notification if the beneficial owner is not a partner in the company or if a company is a partner.
Private traders, housing companies, mutual real estate limited companies, branches and listed companies do not file a notification, and neither do associations or foundations.
How to file a notification
File your notification online using the service at ytj.fi. Please note that the service is only available in Finnish and in Swedish. Go to ytj.fi to file your notification.Open link in a new tab
In the service at ytj.fi, you can also authorise, for example, an employee of an accounting firm to file the notification on behalf of your company.
Advisory Service, Finnish Trade Register
Tel. +358 29 509 5900