The digital share register for non-listed companies!
With Finshare you get an all-in-one solution for both shareholder management and employee participation. Simple, transparent and data-protection compliant.
Build trust with shareholders, employees and investors with the right software
Transparency
Shareholders, transactions and voting ratios clearly structured – across all share classes.
No liability risks
All mandatory information under §67 AktG included, voting rights correctly calculated, fewer grounds for challenge at the AGM.
Transaction security
Allocations and transfers clearly structured, available at any time and documented without gaps.
GDPR-compliant
Anonymisation where there is no legitimate interest (§67e AktG), GDPR-compliant hosting in Germany, dedicated tenant.
Investor relations
Optional shareholder portal for master data, holdings development and important documents.
Always up to date
All transactions processed in real time – your shareholder data is always current.
Built for equity participation
Employee shares, ESOP/VSOP and phantom shares – all on one platform, clearly linked together.
Everything in one place
Instead of scattered Excel sheets, emails and paper folders: one central, legally compliant system for the board, shareholders and employees.
These features keep everything clear and easy to use
From shareholder management to company valuation to the shareholder portal – all combined in one platform.
Share register
The legally compliant share register under §67 AktG – digital, audit-proof, up to date.
- Common & preferred shares clearly separated
- Voting rights & voting ratios automatically
- Restricted registered shares under §68 II AktG
- Audit-proof transaction history
Company
All company master data managed centrally – articles of association, capital, governing bodies and documents at a glance.
- Share capital & share classes
- Board, supervisory board, AGM resolutions
- Centralised document management
- Several companies in parallel
Shareholders
Detailed shareholder profiles with all mandatory information – plus extended fields for professional IR work.
- Name, date of birth, address, email
- Number of shares & nominal value
- Account number for distributions
- Passport number & religious affiliation optional
Company valuations
Historical & current valuations for every reference date – including the associated financial model in document management.
- Valuations tied to reference dates
- History across financing rounds
- Financial models as supporting evidence
- Value development visible to shareholders
Shareholder portal
A dedicated, secure portal for every shareholder – for self-service data maintenance and transparent communication.
- View & correct your own master data
- Holdings, value development, documents
- Also usable for employee shares
- Read permissions individually configurable
Further participation models
Beyond registered shares: ESOP/VSOP, phantom shares and GmbH shares – all in the same system as your share register.
- ESOP & VSOP incl. vesting, cliff, leaver
- Phantom shares
- GmbH shares with/without voting rights
- Automatic allocation based on terms
How is Finshare different from other solutions?
Finshare unites in one platform what used to be spread across several tools – and closes the gap between paper and real participation.
- All-in-one: share register & employee participation in the same system
- Built for non-listed AGs: no oversized enterprise solution
- Shareholder portal included: self-service for master data & transparency
- Hosting & development in Germany: full data sovereignty
- Intuitive to use: set up in just a few hours
Choose your FINSHARE plan
SMALL-AG
30-day free trial Introductory price- Access to Finshare
- Digital share register under §67 AktG
- Company valuation
- Includes 5 shareholder portal accounts
- Optional: Individual setup (on request, from € 1,250.00)
AG
30-day free trial Introductory price- All features of SMALL-AG
- Document management
- Includes 10 shareholder portal accounts
- Multiple administrators
- Optional: Individual setup (on request, from € 1,250.00)
AG +
- All features of AG
- Your own logo & corporate identity
- Coming soon: Microsoft Single Sign-On (SSO)
- Discounted shareholder portal accounts from 100 shareholders
Why every shareholder should have their own portal login
Each shareholder gets a private, personalised area for personal data, current holdings and documents. Fewer questions to the board, cleaner register data — and a company that feels visibly more transparent.
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§67 AktG made easy
The statutory right of disclosure is covered in one click, with full audit history.
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Transparency without the questions
Holdings, current valuation and documents are there for shareholders to view any time — no more Excel screenshots by email.
The most important questions about the share register
From the legal basis under §67 AktG through liability questions to GDPR compliance – here you'll find all the answers about the digital share register.
See all FAQs →In Germany, every public company (AG) that issues registered shares is legally required to maintain a share register (§67 AktG; in Switzerland Art. 686 para. 1 CO). Since issuing registered shares is standard practice, the vast majority of AGs cannot avoid keeping such a share register.
Many smaller AGs also have restricted registered shares as a result of their articles of association (§68 II AktG). These may only be transferred if the AG consents to the transfer. Shareholders are entered into the share register.
No, there is no difference. "Share ledger" (Aktienbuch) is simply the term that was common until 2009; it was changed to "share register" (Aktienregister) with the German Accounting Law Modernisation Act (BilMoG).
The essential shareholder data: name, date of birth, postal address, electronic address (usually email), number of shares or share number, and nominal value in the case of par-value shares. Without registration, a shareholder generally cannot exercise their rights and obligations vis-à-vis the AG (§67 para. 2 AktG) – e.g. voting rights at the AGM or receiving dividends.
Finshare additionally enables: account numbers for distributions and exit proceeds, passport numbers for identifying foreign shareholders, and religious affiliation for the correct calculation of church tax.
Non-listed companies are also required to maintain a share register – otherwise there is a liability risk. Maintaining it is usually simpler, as there are fewer shareholders and transactions to manage.
A record that satisfies §239 para. 4 HGB is sufficient: entries must be complete, correct, timely and orderly, changes must be documented, and the original content must remain identifiable.
Yes, the share register must clearly show the type of share and the associated rights (e.g. voting rights). Otherwise there is a risk of incorrect voting at the AGM and of resolutions being challengeable.
Finshare clearly distinguishes between common shares carrying voting rights and non-voting preferred shares, so it is always visible who is entitled to vote and who merely holds a capital stake.
The share register provides an overview of the owners, facilitates shareholder communication, the annual general meeting and dividend payments, and creates legal clarity (e.g. who is entitled to vote).
Finshare goes further and also manages important documents (shareholder agreements, voting proxies, AGM resolutions) in one place – ready for legal disputes or audits.
No. Unlike the commercial register, the share register is not public. Other shareholders also have no right of inspection; only access to one's own stored data is permitted.
Optionally, Finshare allows read access to be granted to individual shareholders – useful, for example, with employee participation. The employee then only sees their own data.
Data processing must comply with the GDPR and the German Federal Data Protection Act (BDSG): access restrictions, storage only for as long as needed, and the required consents. The details are governed by §67e AktG.
Finshare: hosting in Germany, data-protection-relevant data can be deleted, transaction histories remain without personal attribution (deleted shareholders appear, for example, as "anonymous"), and the personal data of former shareholders can no longer be traced.
Yes, shareholders generally have the right to have errors corrected if they provide evidence. The optional shareholder portal supports data quality – the shareholder has read access, can inform the company of changes (e.g. a change of address) and see the correction in real time.
Incorrect or incomplete information can lead to legal problems, disputes with shareholders, fines and personal liability of the board members. A missing share register can significantly damage credibility and trust.
The management board of an AG must ensure that shareholder rights are only exercised by those entitled to them. Maintaining the share register falls under the duty of care set out in §93 AktG. If the board fails to keep one and the AG suffers damage (e.g. under §93 para. 3 AktG), the board is liable under §93 para. 2 AktG.
In particularly serious cases, criminal consequences may also arise, especially if the absence of the register leads to breaches of the law or violations of shareholder rights.
Ready to digitalise your share register?
Book your free demo appointment – in 30 minutes we'll show you how Finshare keeps your share register legally compliant, GDPR-conform and transparent.
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