Minors in limited liability companies

A minor – a person who is under 18 years of age – can subscribe for shares and sign the memorandum of association of a limited liability company in the following situations:

1. Personal earnings: A minor can subscribe for shares if they pay the subscription price with their personal earnings.
2. Donation, the minor’s personal earnings are not used: The guardians subscribe for the shares on the minor’s behalf.
3. Guardians subscribe for shares with the minor’s property: The guardians need permission from the Digital and Population Data Services Agency (DVV), which is the Finnish guardianship authority.
4. The guardian has signed the memorandum of association or is a member of the board of directors: The guardian must apply to the guardianship authority (DVV) for appointment of a substitute guardian. The substitute guardian subscribes for the shares on the minor’s behalf.
5. The guardian procures shares on the minor's behalf and the shares entitle the holder to control premises: The subscription requires permission from the guardianship authority (DVV).

Please note that a minor cannot be a member of the board of directors or the managing director.