Finland FDI control
Produced in partnership with Roschier
Finland FDI control

The following Competition practice note produced in partnership with Roschier provides comprehensive and up to date legal information covering:

  • Finland FDI control
  • 1. What is the applicable legislation?
  • 2. Which government or other body (or bodies) reviews foreign investments?
  • 3. What is the scope of the foreign investment regime? Does it only apply to specific sectors or types of investors (eg foreign or non-EU / non-WTO)? Are there specific rules for certain types of investors (eg state-owned enterprises)?
  • 4. What are the triggers or thresholds for the regime to apply? What types of transactions are caught? Is there a minimum level of shareholding or a control test that applies?  Are there any other thresholds that need to be met (e.g. based on turnover or market shares)?
  • 5. Are there any exceptions that may apply?
  • 6. Is there any discretion to review transactions that do not meet any thresholds for review?
  • 7. What are the grounds for review, eg public or national security or other grounds?
  • 8. What level of discretion do the relevant authorities have to approve or reject transactions? Is there scope for any other body to intervene?
  • 9. Where a transaction is caught by the regime, is notification mandatory and must closing be suspended pending clearance?
  • More...

Finland FDI control

A conversation with Ami Paanajärvi, partner, Juhani Matinlassi, senior associate, and Mira Eklund, associate in the Helsinki office of regional law firm Roschier Attorneys Ltd. on key issues on foreign direct investment (FDI) control in Finland.

1. What is the applicable legislation?

The subject matter is covered by the Act on the Monitoring of Foreign Corporate Acquisitions in Finland (172/2012, the MFCA).

2. Which government or other body (or bodies) reviews foreign investments?

The Ministry of Economic Affairs and Employment (MEAE) and the Council of State (in case the MEAE considers it necessary to refer the matter to the Council (which is the only authority with jurisdiction to prohibit an acquisition).

3. What is the scope of the foreign investment regime? Does it only apply to specific sectors or types of investors (eg foreign or non-EU / non-WTO)? Are there specific rules for certain types of investors (eg state-owned enterprises)?

The scope of the MFCA covers acquisitions whereby a foreign owner gains at least 10%, a third (1/3) or half (1/2) of the total voting rights or a corresponding control in a monitored entity, which are defined as companies:

  1. active in the defence industry–defence sector companies are corporations or business undertakings which produce or supply defense equipment or other services or products important for the national defense, as well as companies which produce dual-use goods

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