Finland to Enforce Compliance Penalties for Trade Register Deficiencies from 2025

Release Time：2025-03-07 08:49Author：Views：509

The Finnish Patent and Registration Office (PRH) will implement a negligence fee system starting in 2025 for companies failing to rectify incomplete or inaccurate Trade Register details after official correction requests. This measure applies to all company types and is governed by the Finnish Trade Register Act.

Key Implementation Details

1. Process

- PRH issues a formal notice specifying a deadline to correct deficiencies.

- Failure to comply by the deadline triggers a negligence fee.

2. Applicable Deficiencies

- Missing mandatory details: company address, board of directors, beneficial ownership information, or personal identity codes.

- Inaccuracies: errors in register details (for instance, an illegal board of directors or unauthorized auditor), disqualified responsible person or auditor.

3. Fee Structure

- Standard fee: €300 for most companies.

- Higher tier: €600 for public limited companies and European companies.

- Escalation: Repeated non-compliance after initial penalties results in a subsequent fee of double the original amount.

4. Compliance Requirements

- Companies must maintain updated Trade Register records and respond promptly to PRH requests.

- Ensure the registered address in the Finnish Business Information System (ytj.fi) is current, as all official communications are sent to this address.

Purpose

- The policy aims to enhance the accuracy and reliability of corporate data in the Trade Register while streamlining enforcement mechanisms for regulatory adherence.

Information source:
https://www.prh.fi/en/asiakastiedotteet/2025/newfeeimposedoncompaniesforincompleteorincorrecttraderegisterdetailsasof2025_2.html

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