Actual beneficiaries will be registered from 1 July 2019

The Finnish Patent and Registration Office (PRH) will start registering details about the actual beneficiaries of companies and organisations on 1 July 2019.

The beneficiary details for companies will be entered in the Finnish Trade Register, for foundations in the Finnish Register of Foundations, and for associations in the Finnish Register of Associations.

When must the details be filed?

Companies must file a notification of their beneficiaries with the Trade Register during the period from 1 July 2019 to 1 July 2020, and after that whenever the details change.

You cannot file beneficiary details for registration before July 2019.

Who is a beneficiary?

The Finnish Act on Money Laundering defines beneficiary as a person who either owns a company or otherwise exercises control over the company. Those who meet any of the following requirements are considered as beneficiaries:

  • The person owns directly or indirectly more than 25 percent of the company shares.
  • The person holds directly or indirectly more than 25 percent of the voting rights in the company.
  • The person exercises actual control over the company or organisation on other grounds.

Indirect ownership or use of voting right refers to a situation where the person controls the company through another company. Other grounds may refer to a partnership agreement, for example.

Companies are each responsible for identifying their beneficiaries. The PRH will not determine the beneficiaries of any company or organisation.

Which companies must file their beneficiary details?

Some companies must file a notification of their beneficiaries for registration. Certain companies and organisations do not file such a notification.

Companies liable to file
a notification of beneficiaries
Companies liable
to file a notification only
if the beneficiary is not a partner
Companies and organisations
not liable to file a notification of beneficiaries
limited liability company,
public limited company
general partnership listed company
co-operative limited partnership private trader
mutual insurance company,
public mutual insurance company

housing company
savings bank mutual real estate limited company
co-operative bank association
tenant-owners' society
foundation
insurance association
religious community
European economic interest grouping
mortgage society
European company (Societas Europaea)
insurance company,
public insurance company
mutual insurance company,
public mutual insurance company

The branch of a foreign trader must file the beneficiary details in accordance with the legislation of the trader’s home country.

General partnerships and limited partnerships do not usually have to file a notification of beneficiaries. Notification is required only if the beneficiary is not a partner in the company.

Housing companies, mutual real estate limited companies, foundations, religious communities and associations do not file a notification.

How to file a notification

File your notification of beneficiaries online using the service at ytj.fi. The service is available in Finnish and in Swedish. Any changes to the details should also be filed at ytj.fi.

To use the online service, you need to have a Finnish personal identity code and either personal internet banking codes or a mobile certificate or an electronic identity card (HST card).

The notification must be signed by the same person who also signs the company’s other notifications to the Trade Register, for example a member of the board of directors, the managing director or a general partner.

Filing the details is free of charge.

What details are registered about beneficiaries?

The following details are entered in the register:

  • name
  • Finnish personal identity code, or date of birth
  • citizenship
  • home country
  • municipality of residence
  • grounds for and extent of the control or the share of ownership.

We disclose beneficiary details from the Trade Register to parties using the information in accordance with the Act on Money Laundering.

Why are beneficiaries registered?

The Finnish Act on Money Laundering and the underlying EU directive on money laundering require that companies and organisations

  • identify their actual beneficiaries
  • file the beneficiaries’ details for registration, and
  • keep the details up to date.

See the legislation for more information

Actual beneficiary is defined in chapter 1, sections 5–7 of the Finnish Act on Money Laundering.

Provisions on registering the actual beneficiaries of companies are laid down in the Finnish Trade Register Act.

Provisions on registering the executive committee members of associations are laid down in the Finnish Associations Act.

Provisions on registering the members of the committee of directors in religious communities are laid down in the Finnish Freedom of Religion Act.

Provisions on registering the members of the board of trustees and the supervisory board in foundations are laid down in the Finnish Foundations Act.

Read more in the reference database of Finnish legislation Finlex

Printable version
Latest update 21.12.2018