DIGITAL REGISTER

The new apartment information system is part of the government’s key project to digitalise public services

Paper share certificates will gradually disappear, as a digital apartment information system will be introduced in Finland from the beginning of 2019. The apartment information system will contain a register of housing company shares and a register of owner apartments.

Maintained by the National Land Survey of Finland, the register of housing company shares contains information on

  • the owners of the shares
  • liens
  • restrictions on the right of possession of shares.

The register of owner apartments combines data collected by various state authorities and other institutions, and it contains

  • basic information about the housing company
  • identifying information for each unit in a housing company.

For more information about the apartment information system, please see thewebsite of the register of housing company shares.

SCHEDULE

The digitalisation of housing trade starts at the beginning of 2019 and proceeds in stages

From the beginning of 2019, all new Finnish housing companies will be established digitally, when the law on the apartment information system will take effect. Ownership and pledging information for new shares will be recorded directly to the register maintained by the National Land Survey of Finland.

For old housing companies, the transition period will begin on 1 May 2019 and finish at the end of 2022. During this period, all housing companies need to transfer their share registers to the apartment information system.

The goal is to make digital trading possible with also paper share certificates during 2019.

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