The register of foreign custodians will be phased out by 31 December 2020.
Applications can be submitted for the new Register of Authorised Intermediaries starting 1 July.
Holders of custodial nominee accounts can register into the foreign custodian register.
These custodians pay out and transfer dividends paid by Finnish publicly listed companies to nonresident shareholders.
A foreign custodian can register into the foreign custodian register. The custodian must fulfil certain requirements in order to register, for example:
- hold a contract with a Finnish custodian
- commit to submit identification details of the final recipients of the dividends
- have an existing tax treaty between Finland and their country of residence, including a provision concerning dividends in the tax treaty
The custodian must be registered in the Finnish Tax Administration's register at the time of the dividend payment.