At the beginning of 2019, the National Land Survey of Finland introduced the electronic residential and commercial property information system, also known as the electronic register of housing company shares.
Printed share certificates and information on the share certificates will be digitalised and, at the same time, information on the shareholders and pledged shares is registered in the residential and commercial property information system. When the share certificate is digitalised, the printed share certificate will be voided.
Digitalise your share certificate by the end of 2033
Housing companies must digitalise their share registers by the end of 2023. For more information on the digitalisation of the share register of your housing company, contact your property manager.
After the share register of the housing company has been digitalised, the shareholders can digitalise their share certificates. There is no hurry, as you will have more than ten years to digitalise your share certificate – until the end of 2033.
If your housing company was founded after 1 January 2019, your share certificate is digital and the ownership and pledging information have already been registered in the residential and commercial property information system. In this case, you don’t need to do anything.
It is easy to digitalise the share certificate when you sell your apartment
When the owner of an apartment changes, the ownership and pledging information must be registered in the electronic residential and commercial property information system within two months.
If you are likely to sell your apartment before the end of 2033, you can digitalise your share certificate in connection with the sale. The buyer will then pay the costs charged for digitalisation, unless otherwise agreed in connection with the sale.
How can I submit an order to the bank to digitalise my share certificate?
If you have pledged your apartment as collateral for a loan, the printed share certificate is in the bank’s custody. In this case the bank will digitalise your share certificate based on your order.
There is no hurry, as you will have time until the end of 2033 to submit an order to the bank.
Remember to inform the bank whether you want to keep the void share certificate. Please contact us when you want to digitalise your share certificate.
If you hold the printed share certificate, i.e. it’s not in the bank’s custody, you’ll find instructions on how to digitalise your share certificate on the website of the National Land Survey of Finland.
How much does the digitalisation of a share certificate cost?
To digitalise your share certificate you will need to pay costs charged by us and by the National Land Survey of Finland. These costs are related to the registration of the ownership and pledging information.
If you hold the printed share certificate and will digitalise your share certificate yourself, you will only need to pay the costs charged by the National Land Survey of Finland.
Costs charged for digitalisation of a share certificate
| Service/transaction | Costs charged by the National Land Survey of Finland
| Costs charged by Nordea | Total |
| Registration of ownership per share certificate | EUR 69 | EUR 150 | EUR 219 |
| Registration of pledging information per share certificate | EUR 30 | EUR 100
| EUR 130 |
| Registration of ownership for shares entitling to a garage (in connection with a share certificate for an apartment) | EUR 69 | EUR 20 | EUR 89 |
| Registration of pledging information for shares entitling to a garage (in connection with a share certificate for an apartment) | EUR 30 | EUR 20 | EUR 50 |
Examples of costs charged for digitalisation
If you digitalise a share certificate you hold, you only pay the costs charged by the National Land Survey of Finland, 69 euros.
If you have pledged your share certificate to us as collateral for your loan and we will digitalise your share certificate, the costs are 349 euros for the share certificate plus 139 euros if you also own a garage.
If you want to submit an order to us to digitalise a share certificate that is not pledged as collateral for a bank loan, the costs are 219 euros.
The above costs will be charged every time the holder of a digital share certificate changes in connection with a sale. The buyer will pay the costs, unless otherwise agreed.
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