Application for a pawnbroker’s operating licence and notification of changes to the licence

Submit the application for the operating licence using an electronic form. The electronic form cannot be saved as incomplete, which means that you should have all the necessary information and attachments ready before you start completing the form. The information that you have entered on the form will not be saved if you leave the form or update the website.

The instructions on providing the basic information on your pawnbroker business are provided on the electronic form. Enter the details of any agent and contact person on the form. The same person can act as the agent and the contact person.

The following details of the persons in charge of the pawnbroker, its administrative personnel and auditors must be entered on the electronic form:

• last name
• first name
• personal identity code or (if not available) date of birth
• position in the company
• nationality
• domicile.

You must give the Regional State Administrative Agency the details of all owners that directly or indirectly own at least 10% of the pawnbroker’s shares or voting rights. The following details of the owners of the pawnbroker business must be entered on the electronic form:

• last name
• first name
• personal identity code or (if not available) date of birth
• share of ownership.

Enter the following information in the open fields:

• the way in which the pledges are insured and stored
• the way in which the share capital of one million Finnish marks (EUR 168,187.92) required under the Act on Pawnbrokers is paid
• the company’s ownership structure.

You can supplement the information entered in the open fields with attachments.

Attach the following information to the electronic form:

• suitability and reliability assessment form for each owner and person in charge of the company
• memorandum of association or start-up notification of the company
• articles of association
• a document stating that the share capital has been paid.

You can also attach other information to the electronic form (such as attachments supporting the open text fields). When the Regional State Administrative Agency assesses whether the requirements for the operating licence have been met it may request additional information from the applicant.

The Regional State Administrative Agency may require that the applicant must meet specific conditions concerning the operating licence before starting the business

A pawnbroker must meet the following conditions:

1. The applicant is a limited liability company or a limited liability company to be established.
2. The applicant’s company name includes the word ‘pantti’ (pledge).
3. The applicant’s share capital is at least one million Finnish marks (EUR 168,187.92).
4. The applicant’s board of directors has at least three members and at least one deputy member.
5. The applicant has a managing director.
6. The applicant’s owners and administrative personnel are reliable and suitable.
7. The applicant has at least two auditors and one deputy auditor.
8. The applicant must detail how the pledges are stored and insured.
9. Pawnbrokers may only carry out pawnbroking and other closely related activities (such as the auctioning of unredeemed pawned goods).