Legal advisers Eversheds Sutherland revealed on 11 June 2026 that the Ministry of Economic Affairs and Employment has opened public consultation on a draft Investment Permit Act that would replace Finland’s current, narrower Foreign Corporate Acquisition Screening law. Unlike the old regime—focused mainly on defence-sector deals by non-EU buyers—the new framework would require a mandatory pre-closing permit for a much wider set of investments, including greenfield projects in critical infrastructure, data centres, ports and energy. Notably, the proposal drops the EU/EFTA exemption: all foreign investors, including those within the European Economic Area, could fall under screening if the target is deemed sensitive. Ownership thresholds tighten, with permit triggers at 10 %, 33.3 %, 50 %, 66.6 % and 90 % of voting rights, plus similar rules for incremental share purchases. The National Emergency Supply Agency would become the first-stage gatekeeper, with the ministry retaining power for deeper reviews. Administrative penalties of up to €10 million—or 10 % of global turnover—are foreseen for closing without approval. The reform aligns Finland with the EU’s revised FDI Screening Regulation adopted earlier this month but goes beyond minimum requirements by covering selected greenfield investments and applying uniformly to EU investors. The government hopes to table a final bill in autumn 2026 and have the act in force by spring 2027. For multinational companies considering M&A or capital-intensive projects in Finland, the message is clear: factor an extra 45-day (or longer) permit process into deal timelines and be prepared for broader disclosure of supply-chain, cybersecurity and end-user information. Mobility teams working on intra-company transfers linked to such projects should budget additional lead time for work-and-residence permits, which cannot be finalised until the investment permit is secured. While officials stress Finland remains “open for business,” the move underscores a Nordic trend toward security-driven economic policy and could influence how global headquarters allocate future expansion budgets within the EU.
Source: Eversheds Sutherland Finland
