Instructions for housing companies
A housing company that is included in the Residential and Commercial Property Information System
Share issue, merger, division and demolition to make way for new construction
- After the registration of the amendment to the articles of association, notify the National Land Survey of Finland of the current and previous identifiers or share numbers of the changed groups of shares using the form.
- Report the owners of new groups of shares or groups of shares resulting from a merger or division.
- If a merger, division or demolition of the housing company to make way for new construction has taken place and there is an apartment with a paper share certificate that the company was unable to obtain and cancel, the National Land Survey of Finland must be informed. In such a case, the owner of the apartment must apply for the registration of ownership. The application must be accompanied by the share certificate for the discontinued group of shares.
- Pledges and restrictions on shares issued due to a merger or division must also be reported. All groups of shares in merged or divided companies must have electronic registration of ownership. In addition, the rights and restrictions applying to all discontinued groups of shares must be allocated to one of the groups of shares created after the change.
- Also, report all pledges and restrictions for new groups of shares issued to replace discontinued groups of shares in case of demolition to make way for new construction. All the groups of shares for companies subject to demolition to make way for new construction must have electronic registration of ownership. In addition, the rights and restrictions applying to all discontinued groups of shares must be allocated to one of the shares replacing the discontinued group of shares.
- If necessary, allocate the housing company’s administrative information to the new groups of shares.
Other amendment of the articles of association causing change of a share group identifier
- In good time before the annual general meeting, check that the apartments subject to the change have been entered in the Residential and Commercial Property Information System for electronic registration of ownership. If an apartment has a paper share certificate, an application on the registration of ownership must be submitted before the amendment of the articles of association.
- Obtain the necessary consents from the right holders of pledges and restrictions for the amendment of the articles of association in good time before the annual general meeting. If the amendment of the articles of association is being implemented at the initiative of the owner of the apartment, make sure that the necessary consents have been obtained in good time before the annual general meeting. The consents must be presented when the owner submits an application for the assignment of rights to the National Land Survey of Finland. Consent forms and instructions on how to complete them (in Finnish).
- After the registration of the amendment to the articles of association, notify the National Land Survey of Finland of the current and previous identifiers or share numbers of the changed groups of shares using the form.
- Read more about the amending of articles of association on the website of the Finnish Patent and Registration Office (in Finnish) and on the assignment of rights in the Apartment Registration Manual (in Finnish) (Sections 3.4.6 and 4.2.2).
Housing company notification forms:
- Notice from a housing company regarding the owners of groups of shares, pledges and restrictions. Use this form to submit information about a merger, division or demolition to make way for new construction.
- Notice from a housing company regarding the owners of groups of shares. Use this form to submit information in connection with a share issue.
- Notice from a housing company regarding groups of shares. Only use this form when the owner of an apartment is applying for the assignment of rights.
Right holder consent forms
- Assignment of a pledge (in Finnish):
- The pledgee’s consent
- Completion instructions
- Assignment of restriction (in Finnish):
- The right holder’s consent
- Completion instructions
Instructions for apartment owners
These instructions apply to situations where the application is submitted by the owner of the apartment
- Apply for the registration of your apartment ownership in the Residential and Commercial Property Information System if the apartment still has a paper share certificate. During the registration of ownership, the paper share certificate will be replaced with electronic registration of ownership. Apply for the registration of ownership well in advance of the annual general meeting. A decision on the amendment of the articles of association cannot be made at the annual general meeting until the electronic registration of ownership of the apartment has been completed.
- If your apartment has been pledged or is subject to restrictions and the amendment of the articles of association is being made at your initiative, you must obtain the written consent of the pledgee and the holder of the right protected by the restriction for the amendment of the articles of association and the assignment of rights to the changed share group identifiers in the Residential and Commercial Property Information System. The consents must be obtained in good time before the annual general meeting at which a decision on the amendment of the articles of association is to be made. Pledges and restrictions can be checked from the printout for the apartment.
- After the amendment to the articles of association has been processed by the annual general meeting and registered in the Trade Register, maintained by the Finnish Patent and Registration Office, apply for the assignment of your ownership and the pledges and restrictions to the changed group of shares. Attach the consents of the right holders to the application.
Application forms
- Application on the assignment of rights and restrictions
- Instructions on how to complete the application
Right holder consent forms
- Assignment of a pledge (in Finnish):
- The pledgee’s consent
- Completion instructions
- Assignment of restriction (in Finnish):
- The right holder’s consent
- Completion instructions
Instructions on change of company form for housing companies
If a limited liability company or cooperative changes its legal form to a housing company or a mutual real estate company, the housing company must transfer its list of shares (in Finnish) to the Residential and Commercial Property Information System. The housing company must transfer the list of shares to the Residential and Commercial Property Information System as soon as possible after the change of company form has been registered in the Trade Register.
Use the YTJ service of the Finnish Patent and Registration Office to report the change of company form.
- Save the new articles of association in electronic format, e.g. a list of apartments.
- Wait until you have received a notification from the Trade Register about the registration of the amendment to the articles of association. Only then can you transfer the housing company’s list of shares to the Residential and Commercial Property Information System.Transfer the list of shares as soon as possible after the registration of the change of company form.
- Add the information about the owners of the groups of shares and other necessary information.
- Accept the transfer of the list of shares. When this has been done, the company is part of the Residential and Commercial Property Information System and the maintenance of the list of shares is the responsibility of the National Land Survey of Finland.After transferring the list of shares, notify the apartment owners.
- The shareholders must apply for the registration of ownership (in Finnish), attaching to their applications their share certificate, a temporary certificate or a report of owners from the board of directors of the housing company.
Report the administrative information of your housing company to the Residential and Commercial Property Information System.
Read more on the website of the Finnish Patent and Registration Office:
- Changing a limited liability company into a housing company
- Changing a limited liability company into a mutual real estate company
PLEASE NOTE: In some cases, the Finnish Patent and Registration Office will change the company form of a limited liability company into a mutual real estate company in the Trade Register if the limited liability company meets the definition of a mutual real estate company. If the change of company form has been made at the initiative of the Finnish Patent and Registration Office, the company is not obliged to transfer the list of shares to the Residential and Commercial Property Information System.