:
registration of legal entity

Cost of registration The cost of the second year Number of Directors Corporate tax rates Payment of Charter Capital Financial statements
2600.00 EUR 1460.00 EUR 1 20.00% 2500.00 Yes

Finland is a state in Northern Europe with population of about 5.5 million people. Finland shares border with Russia, Sweden, Norway and Estonia. The area of the state with water and land territories is about 340 thousand km2.

Despite the fact that Finnish and Swedish are official languages in Finland, Finns mostly speak English.

Finland is the member of the EU. The capital is Helsinki.

The monetary unit is the euro.

Today, more and more entrepreneurs are tending to register company in Finland. Let's consider the main reasons, why registration of business in Finland or buying company in Finland is cost-efficient:

- political stability;

- significant economic potential of the country;

- flexible tax legislation;

- good geographical position;

- possibility to obtain a residence permit.

Forms of doing business in Finland

You can use the enterprise in one of the following forms for business registration in Finland:

· yksityinen elinkeinoharjoittaja/yksityinen toiminimi (T-mi) — either self-employed person or sole proprietor;

· avoin yhtio (Ay) — general partnership;

· kommandiittiyhtio (Ky) — limited partnership;

· osakeyhtio (Oy) —joint stock company;

· osuuskunta (Ok) — cooperative;

· rekisteroity yhdistys (Ry) — corporation.

Currently, according to the laws of Finland, the person who does not permanently reside in any of the EU countries can act as the entrepreneur, the participant of general or limited partnership, the founder of joint stock company exclusively upon the permission of the Ministry of Trade and Industry of Finland.

Today, the most prevalent form of doing business in Finland is joint stock company (Oy).

How to register the joint-stock company in Finland

  • The founders of the "Oy" company can be natural and/or legal persons, not excluding foreigners. There is no necessity in drawing up the Charters, it is sufficient to fill in the standard forms.
  • Minimum authorized capital equals to EUR 2500. After registration of the company, the whole amount should be paid. After that, the resources from the statutory fund can be spent on the needs of the company (expenditures for hotels, business trips, etc.). You can draw out almost the entire amount, about $ 500-700 should remain on the account to maintain favourable balance.
  • The system of governing bodies is the managing board in the form of the Board of Directors. At the same time, the position of the General Director is not obligatory. And the number of participants of the board is not limited.
  • It is necessary to register company in Finland in the trade register (that is located in the main patent and registration office).
  • When submitting documents, the owner of the enterprise can obtain registration certificate (Diaaritodistus) with the registration number. Such document substitutes the certificate on registration of the company in Finland, and bank account can be opened and other actions stipulated by the legislation can be performed in virtue of it. Separate fee will be charged for the registration of the subsidiary name of the company, and it can reflect one of the directions of the company's activities.
  • The entrepreneur and the company shall be registered with the tax office. To this end, it is necessary to fill in and submit to the tax office (at the place of residence or company registration) the form with notice of the commencement of activities.
  • In order to establish representative office or branch without obtaining the status of legal entity, it is needed to receive special permit, and submit it to the Main Department of Patents and Registrations with the application regarding registration.
  • When acquiring a block of shares of the company or the entire company, it is necessary to file a request for the registration of the deal. This shall take one month from the moment of its conclusion. The Ministry can come up with negative response (if, for example, the transaction contradicts public policy, etc.), then the matter can be referred for consideration of the state council, and the deal can subsequently be terminated.

Pay attention that there are almost no facts of smashup of business and winding-up of industrial enterprises in Finland. The state supports employers in order to protect employees.

Bookkeeping in Finland

The company is obliged to submit annual financial report.

Taxes on business in Finland

  • Taxation of business in Finland is by no means difficult.
  • If the company received revenue (and this is evidenced by the financial report regarding results of the year), then the income tax will equal to 20%.
  • If by decision of the meeting this income is paid in the form of dividends to the participants of the company, then no income tax is charged.
  • Taxable income is calculated after the cost incurrence at the end of the fiscal year.
  • The following is not subject to VAT:

- sale of goods abroad;

- provision of services abroad.

  • At the same time if the good is purchased with VAT included, the tax is refunded to the company.
  • All services and goods purchased for the needs of the company are also bought without VAT (24% cheaper).
  • In Finland, there is no property tax.
  • Finnish company which has a branch abroad accounts for its activities according to the same principles as in Finland. And if there is income at the end of the year and no dividends are paid from it, it is necessary to pay taxes on the company's profits in Finland.

Let’s also consider the other forms of business organization in Finland.

Registration of the Sole Proprietorship

This organizational and legal form is the most acceptable when the basis of business is the professional skill of the entrepreneur himself. In order to establish company, his own capital is used, and no external assistance is required (e.g. doctors, lawyers, hairdressers, etc.)

In order to work as sole proprietor, foreign citizens shall obtain the permission from the Ministry of Trade and Industry. In this case the entrepreneur is responsible for his activities with all his property. And before starting his activities, it is necessary to prove that the businessman is able to bear certain material responsibility.

Registration of the General Partnership

This form is suitable if several people are actively involved in business and conduct commercial activities. At the same time, it is important that the partners have confidence in each other.

In order to establish partnership, participation of at least two persons, either natural or legal ones, is required.

The constituent document is the agreement on foundation of the partnership. It is drawn up in writing.

The following is recommended to be included in the agreement:

- name of the partnership;

- its location;

- sphere of activity;

- information about partners (the amount of their contributions, the right to sign on behalf of the company, the allocation of responsibilities);

- reporting period and audit;

- principle of distribution of profits and losses;

- termination procedure and means of changing the constituent agreement and other issues.

Partners of the general partnership, in the absence of residence in the EU countries, are required to obtain permission from the Ministry of Trade and Industry. However, the partnership shall have indwelling representative in Finland. The partners are responsible for the obligations of the partnership also with their personal property.

We will register ready made company in Finland for you within the shortest time possible. It has never been easier to buy company in Finland. Registration of company in Finland is one of the simplest and cheapest ways to start a legitimate international business.

We will specify all the information regarding the offshore zones in Finland for you. Registration of companies in Finland is one of the main directions of our work.

Set of documents
   
  • Extract from the Register  
  • Articles of Association
Nominee director and shareholder
 EUR  
  • Ask our manager

General information
Square338 145.00
Population5 408 920.00
CapitalHelsinki
Unemployment7.80
State polityRepublic
Telephone code358
Place in the world in corruption2
locationNorthern Europe, bordering the Baltic Sea, Gulf of Bothnia, and Gulf of Finland, between Sweden and Russia
Climatesemi-continental climate; in southern Finland - north temperate; avg. maximum temperature (July) +25°; avg. minimum temperature (January) -14°.
Literacy rate100.00%
Ethnic groupsFinn 93.4%, Swede 5.6%, Russian 0.5%, Estonian 0.3%, Roma (Gypsy) 0.1%, Sami 0.1%
National currencyEuro (EUR)
USD exchange rate0.75
GDP per capita24
Official languageFinnish and Swedish
Credit ratingAAA
The judiciarytwo main branches: general courts, dealing with civil suits and criminal cases, and administrative courts, regulating the actions of the country's bureaucracy; each of the branched is headed by the Supreme Court or the Supreme Administrative Court; the tw
Executive authorityPresident - chief of state; Prime Minister - head of government; Council of State (Cabinet or Valtioneuvosto) appointed by the president is responsible to parliament
Legislative authoritiesunicameral Parliament (Eduskunta) and shared by the by Parliament (Eduskunta) and shared with the country's president; 200 parliamentarian elected by universal suffrage for four-year terms
Corporate information
Opportunity to purchase ready-made companiesНет
Legal systemcivil law system based on the Swedish model
Terms of purchasing ready-made company3 weeks
The use of the Cyrillic alphabet in the nameНет
Local registered officeНет
Organizational and Legal FormsPrivate entrepreneur; General Partnership; Limited Partnership; Limited Liability Company (osakeyhtiö Oyj); Cooperative; Branch (or office) of a Foreign Enterprise
Terms of registration6 working days
Indication of BPA in the nameOsakeyhtiö (Oy) in Finnish language or Aktiebolag (Ab) in Swedish language for private limited company
Local registered agentДа
The information required to be kept at the registered officeno
Shares and share capital
Standard currencyEuro
Information about the beneficiary is disclosedEUR 2,500 (for private Limited Liability Company)
The minimum amount of paid-in capital, nat. currency2500
The minimum amount of the issued capital2500
Bearer sharesНет
Terms of payment of the issued capitalbefore completion of registration
The usual size of the authorized capitalEUR 2,500
Terms of capital paymentbefore completion of registration
Usual nominal value of sharesany
Possibility to issue shares without par valueНет
Taxation
VATДа
Basic corporate tax rate20.00%
Capital gains taxДа
Withholding taxon average: 17.35% of the salary - for pension, and 2.12% - for social security
Currency controlНет
The tax on personal income0-60% - progressive state income tax on earned income payable on earned income; 16.25% - 21.75% - municipal tax on earned income depending on the municipal authority; 28 % - flat tax on capital (investment) income; net wealth tax; 1%- 2.15% - church tax
Corporate tax rates details24.5% corporation tax (state income tax) payable on profits by corporations which are independent taxpayers (limited liability companies, cooperatives, funds)
Government dutyyes: when registering a company, real estate, a vehicle, fishing, hunting etc.
Stamp dutyДа
Other taxesDeductions must be made from the following payments to non-residents according to this table: dividend - 24.5%; Royalties - 24.5%; interest – 0%.
Director and Secretary
Minimum number of directors2
The requirement for residency directorsНет
Director of legal entities are allowedНет
The data reveals to the local agentДа
Data field to the public registryДа
Meeting / regularity / placeas provided for by the Articles of Association / in any location
The requirement for the presence of the SecretaryНет
Requirement to the residense of the SecretaryНет
Requirements to qualification of the SecretaryНет
Legal entity as the SecretaryНет
Shareholder and beneficiary
Minimum number of shareholders1
Data is entered in the public registerДа
Shareholders residency requirementНет
Information about the beneficiary is disclosedНет
Information may be disclosed to the local agentДа
Shareholders-legal entities are acceptableДа
Meeting / regularity / placeannualy following the annual report
Reporting
The requirement for filing reportsДа
Open access to reportsДа
Statutory auditНет
The requirement for filing Annual ReturnНет
Open access to the Annual ReturnДа
The requirement for reportsДа
Treaty on avoidance of double taxation (States which signed)75
Membership in the OECDДа
Is it offshore according to Russian legislationНет
Trademark Registration
TM Comprehensive Study TM Registration Request TM Registration Certificate Total
First Class Additional Class First Class Additional Class First Class Additional Class First Class Additional Class
60.00 60.00 1050.00 210.00 0.00 0.00 1120.00 EUR 270.00 EUR
«TRADEMARK» refers to «Wordmark» or «Logo»

100.00 100.00 1050.00 210.00 0.00 0.00 1120.00 EUR 310.00 EUR
«TRADEMARK» refers to «Wordmark+ Logo»

Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary.

Prices include all legal and official fees. Our Prices could have variations during the registration process only in case of changes concerning the Official Fees or exchange rates.
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