Foreign branches and providing services to Finland from abroad 

Foreign service providers may carry out their business in Finland by setting up a branch office or providing cross-border services. Starting up operations is subject to the authorisation and notification procedure.

Provision of services to Finland from the EEA

The FIN-FSA must be notified if a service provider from an EEA country intends to set up a branch office of a credit institution, insurance company, investment firm or management company in Finland. In this case, the notification is submitted by the home country supervision authority of the service provider. The provision of cross-border services is also subject to notification by the supervision authorities of the home country. We keep a register of these notifications.

Foreign management companies can market their funds in Finland, subject to compliance with the Finnish Mutual Funds Act and the Directive on undertakings for collective investment in transferable securities (UCITS). Likewise, Finnish management companies can market their funds within the EEA. Starting up operations is subject to the notification procedure.

Provision of services to Finland from outside the EEA

Branch office

Setting up a branch office in Finland by a non-EEA credit institution, management company, investment firm or insurance company is subject to authorisation by the FIN-FSA.

Credit institutions, investment firms, management companies and insurance companies must comply with the existing rules and regulations. Economic operating conditions and administration must also meet the requirements set for reliable operations.

The home country legislation of credit institutions, investment firms, management companies and insurance companies must be compatible with international rules and regulations regarding financial supervision and with recommendations on the prevention of criminal abuse of the financial system. Supervision must be sufficiently effective. In connection with the application for authorisation, information must be provided about the existence or non-existence of a guarantee scheme designed for depositors and investors of the branch office.

Provision of cross-border services

Investment firms or management companies authorised in a non-EEA country are authorised by the FIN-FSA to offer cross-border services in Finland without having to set up an established place of business in Finland.

The authorisation procedure is similar to that governing the setting up of a branch office, as applicable.

Non-EEA credit institutions may not offer their services in Finland without an established place of business.

The standard Authorisations and notifications, issued by the former FIN-FSA, contains more detailed information about the conditions of granting an authorisation.