FIN GVT Apartment Registration


On Oct. 25, FIN GVT adopted bill changing fines for late registration.


  • FIN GVT adopted bill HE 62/2024 vp amending section 16 of the the law on the implementation of the legislation on the apartment information system (1329/2018).
  • Main Points
  • The President of the Republic confirmed the law that changes the calculation method of penalties for delays in the registration application in the apartment information system.
  • When the real estate company has transferred its condominium shares for the first time, the transferee must be registered as a shareholder in the condominium register.
  • Within two months of signing the transfer agreement granting apartment's ownership.
  • Under the previous law, late registration resulted to a fine increased by 20% for every two months of delay; the future calculation of the fine will not add interest on interest.
  • Effectiveness
  • The law enters into force on Nov. 1, 2024.

Regulators FIN GVT
Entity Types CNSM; Corp
Reference EV 73/2024 vp, PR, 10/25/2024; HE 62/2024 vp; Act 1329/2018
Functions Financial; Legal; Registration/Licensing
Countries Finland
Category
State
Products Commodities; Corporate; REITs
Regions EMEA
Rule Type Final
Rule Date 10/25/2024
Effective Date 11/1/2024
Rule Id 231238
Linked to N/A
Reg. Last Update 10/25/2024
Report Section EU

Last substantive update on 10/29/2024