tiistai 3. syyskuuta 2013

Can foreigners own shares in Finland and be directors of a Finnish Company?

1         Can a foreign citizen own shares in a Finnish company?

In regular businesses there are no restrictions based on the place of residence or domicile, or nationality, regarding the right to own shares.

2          Can a foreign resident be a board member in a Finnish limited liability company?

The nationality of the person is not a decisive factor. What is essential is in which country he or she lives permanently. In certain cases a person residing outside the European Economic Area (EEA) needs a permit from the NBPR.

If at least one Board member is a resident of the EEA, no permit is needed. So  for instance in  a Finnish-Chinese joint venture, no permit from the NBPR is required, as long as at least one of both the ordinary and the deputy members are residents of the EEA. Should none of the ordinary members live in the EEA, all of them would need a permit granted by the NBPR.

3          Managing Director

The Managing Director (and his/her deputy, if any) must have a place of residence in the EEA. This is quite logical as the managing director is running the business and is normally “at site”. N.B. The laws talk about residence not the nationality. So a Chinese national residing in Finland can be the Managing Director.