Company Setup in Finland
World-class technological know-how, a skilled workforce and excellent R&D opportunities are just a few good reasons to start a business in Finland.
Finland offers a business environment with unique stability, continuity and predictability. The pillars of a developed and functioning Finnish society are transparent democracy and functioning state institutions, an independent judiciary and respect for the rule of law.
The Finnish business environment is very internationally orientated and attractive to Overseas Investors and offers growth potential and business opportunities in many different industries.
Setting up a company in Finland
We help you to set up a business in Finland. We will conduct the necessary paperwork, registrations and contracts for you, and consider insurance and any financing needs. We also map out the necessary financial administration and other services.
The most popular form of company in Finland is a limited liability company (Oy). The good thing about a limited company is that there is no personal liability: an entrepreneur is not personally liable for the debts of the limited company unless, for example,they have guaranteed them with their property. A limited liability company can also be established by one person, although in this case a deputy member of the board is always required. However, if there are several shareholders, each is only liable for the amount of their own investment.
The set up of a Finnish company can be carried out at our Helsinki office or remotely with the help of a power of attorney (PoA) issued to us. We prepare all the documents and send all the applications on your behalf – we only need the basic information from you to fill in and send the documents. Once the Trade Register has processed all the changes, we will forward all the company’s founding documents to you. It usually takes 5–15 working days to update the Trade Register database to accommodate new board members and company information.
Requirements for setting up a Finnish limited liability company (Oy)
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The company must have at least 1 owner
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The company must have at least 1 director
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The company must have a deputy member on the board)
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The director and the owner can be the same person and there are no restrictions on the person’s country of residence
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The company must have a registration address in Finland
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If the company does not have a minimum share capital, we recommend paying the share capital (€ 2,500) during the first financial year
Process of setting up a company in Finland
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Choosing a company name (Finnish Trade Register) or information on pre-established companies
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Preparation of the company’s founding documents
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The remote setup of the company and related services for EU citizens. Preparation and sending of proxies to the founders of the company, if necessary
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Preparation of agreements between the Articles of Association and other necessary owners
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Founding a company
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Opening a bank account for the company (also possible remotely). The bank account is activated when the company is registered in the Finnish Trade Register.
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Submission of the company’s founding documents and certificate of paid-up share capital to the Finnish Patent and Registration Office
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Delivery of the company’s founding documents
Through us, you can set up a company either remotely or at our office. We also offer a postal address, accounting and tax consulting services.
The Auditing Act exempts the smallest entities from the audit obligation. An auditor may not be elected in the Community if, during the financial year that has just ended and immediately preceding it, Any of the following conditions are met.
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the balance sheet total exceeds €100,000
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turnover or equivalent income exceeds €200,000
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employs an average of more than three people
Business services
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Registration of a company in Finland from €770
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Registration address + postal service: €350/12 months
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Postal address service €150/12 months
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Secretarial services, telephone number and answering services €70/hour
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Company registration in VAT register €380
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Accounting package from €75/month
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Financial administration work €70/hour
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Assistance in opening a bank account from €100
Other business services
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Commercial register changes
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Preparation and submission of the required documents and, if necessary, notarization
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Consulting and advice on setting up a Finnish company
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Agreements
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Marketing and business plans