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Winding up - Finland

Updated 10/2009

When filing for bankruptcy is the only option left for a business owner, it pays to cut losses, initiate proceedings sooner rather than later, and move on to a new business project.

Administrative procedures

Deregistration

The Tax Administration must be notified if business activity ceases.

  • Cessation of business activitiessuomi

Such notification is made on a final declaration form, which can be found on the Finnish Business Information System (BIS) website. The trade register also obtains information about cessation of business activity through the BIS.

If the reason for cessation of business activities is corporate trade, a copy of the trade register extract is annexed to the declaration. If business activities end in bankruptcy, a copy of the court judgment imposing bankruptcy is annexed. If the company merges, a copy of the trade register extract mentioning the court's granting of permission to merge is annexed.

  • Requirements for recording in the advance inheritance register, and grounds for deletion from the registersuomi

Resources

Amendments and declarations to the authorities are made using Y forms in the Finnish Business Information System (BIS).

  • Finnish Business Information System (BIS) Y formssuomi

The Trade Register contains information about amendment notifications and final declarations.

  • Answers to questions about company amendment and final declarations, Trade Registersuomi

Check also the legislation on this topic in:

  • References

    Legal texts

    • Trade Register Act 2.2.1979/129suomi

Living and moving in Europe

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Enterprise Europe Network - Contact points

The Enterprise Europe Network provides businesses with information and advice through its local contact points. 

Choose your nearest contact point for personalized help and advice:

Further help

The National Board of Patents and Registration (PRH) provides advice on issues relating to winding up a business.

  • National Board of Patents and Registrationsuomi

EnterpriseFinland has a helpline that offers general advice for businesses in Finnish, Swedish and English.

  • Suspension and cessation of business activitysuomi

The Chambers of Commerce Network maintains a list of corporate members. It brings together the corporate members of all the Chambers of Commerce in Finland on one website. Contact details for over 16 000 members are available free of charge. The Chambers of Commerce Network allows users to seek new partners and potential customers.

The Employment and Economic Development Centres (T&E Centres) support companies in the various stages of their lifespan and offer advice when winding up. As of the start of 2010, their services can be obtained from the ELY Centres.

  • Employment and Economic Development Centressuomi