Official Name: The Republic of Finland

Capital: Helsinki

Language: Finnish

Currency: Euro (EUR)

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Finland

Finland is a country located in Northern Europe, bordered by Sweden to the west, Norway to the north, and Russia to the east. The country has a rich and complex history, shaped by its geographical location and cultural influences from its neighbors.

The earliest known inhabitants of Finland were the Sami people, who lived in the northern parts of the country. In the 12th century, the Swedish Empire established its dominance over Finland, and the region became a part of Sweden. During this time, the Swedish-speaking minority gained power and influence over the Finnish-speaking majority, leading to tensions that would last for centuries.

In the 19th century, Finland experienced a surge in nationalism, and efforts were made to promote the Finnish language and culture. In 1906, Finland became the first country in the world to grant women the right to vote in national elections. However, World War I and the Russian Revolution had a significant impact on Finland, leading to a civil war in 1918 and the establishment of a republic in 1919.

During World War II, Finland fought against the Soviet Union in the Winter War and the Continuation War. Although Finland was able to maintain its independence, the country was forced to cede territory to the Soviet Union. Following the war, Finland developed a close relationship with the West and became a member of the United Nations in 1955.

In recent years, Finland has become known for its high-tech industry, with companies such as Nokia and Rovio (the creators of Angry Birds) gaining international recognition. The Finnish economy has also been characterized by a strong welfare state and a high level of social equality.

In terms of politics, Finland is a parliamentary republic with a president as its head of state. The country has a multiparty system, with the Social Democratic Party of Finland currently holding the most seats in parliament. Finland is also known for its progressive social policies, including universal healthcare and a comprehensive education system.

Finland has a rich cultural heritage, with traditional music and dance playing an important role in the country’s identity. The Finnish sauna is a cultural institution, and Finnish design has gained a reputation for its simplicity and functionality. The country is also home to several UNESCO World Heritage sites, including the Old Rauma wooden town and the Suomenlinna fortress in Helsinki.

Overall, Finland is a fascinating country with a rich history, dynamic economy, and strong cultural identity. Its unique location and cultural influences have contributed to its development into a modern and prosperous nation.

Types of companies in Finland

Osakeyhtiö (Oy): This is the most common type of company in Finland and it is equivalent to a limited liability company. Oy is a separate legal entity, meaning the owners are not personally liable for the company’s debts. The minimum share capital requirement is €2,500, and shares can be freely traded. The company must have a board of directors and at least one managing director. Oy companies are subject to corporate income tax, and the tax rate is 20% on the first €200,000 of profit and 22% on the remaining amount.

Avoin yhtiö (Ay): This is a general partnership, where two or more partners carry on a business together. The partners are personally liable for the company’s debts and obligations. There is no minimum share capital requirement, and the company is not subject to corporate income tax. The partners report their share of the company’s profit or loss on their personal tax returns.

Kommandiittiyhtiö (Ky): This is a limited partnership, where there are two types of partners: general partners, who are personally liable for the company’s debts, and limited partners, who have limited liability. The company must have at least one general partner and one limited partner. The minimum share capital requirement is not mandatory, and the company is not subject to corporate income tax. The general partners report their share of the company’s profit or loss on their personal tax returns.

Yksityinen elinkeinonharjoittaja (Yksityinen toiminimi): This is a sole proprietorship, where the owner carries on a business as an individual. The owner is personally liable for the company’s debts and obligations. There is no minimum share capital requirement, and the company is not subject to corporate income tax. The owner reports the company’s profit or loss on their personal tax return.

Osuuskunta: This is a cooperative, where the members carry on a business together. Each member has one vote, regardless of their share of the business. Members may or may not have limited liability, depending on the company’s bylaws. The minimum share capital requirement is not mandatory, and the company is not subject to corporate income tax. The members report their share of the company’s profit or loss on their personal tax returns.

Advantages of company registration in Finland

Ease of Doing Business: Finland ranks high in the World Bank’s Ease of Doing Business Index, making it an attractive location for entrepreneurs and investors. The Finnish government has implemented several policies to make it easier for businesses to operate in the country.

Strong Economy: Finland has a strong economy, driven by high-tech industries such as electronics, telecommunications, and biotechnology. The country has a highly skilled workforce and is known for its innovation, making it an attractive location for businesses looking to grow and expand.

Access to the EU Market: As a member of the European Union, Finland offers businesses access to the world’s largest trading bloc. This provides companies with the opportunity to sell their products and services to a market of over 500 million people.

Stable Political Environment: Finland is known for its stable political environment, making it a safe and secure location for businesses. The country has a transparent legal system and low levels of corruption, which further adds to its attractiveness as a business location.

Skilled Workforce: Finland has a highly skilled workforce, with a high level of education and training. The country has a strong tradition of innovation, research, and development, and is home to several world-renowned universities and research institutions.

Business-friendly Policies: The Finnish government has implemented several policies to make it easier for businesses to operate in the country. These policies include tax incentives for research and development, streamlined bureaucracy, and access to funding and support for startups.

High Quality of Life: Finland is consistently ranked as one of the happiest and most livable countries in the world, with a high quality of life and excellent social services. This makes it an attractive location for businesses looking to attract and retain talent.

“Our team can provide assistance if you need help registering a company in Finland”

Common questions

How long does it take to register a company in Finland?
The registration process typically takes 1-2 weeks.

What are the different types of companies that can be registered in Finland?
The most common types of companies in Finland are limited liability companies (Oy) and sole proprietorships (toiminimi).

What are the requirements for registering a limited liability company in Finland?
The company must have at least one shareholder, one director, and a minimum share capital of €2,500.

Can a foreigner register a company in Finland?
Yes, a foreigner can register a company in Finland. However, they must have a Finnish business ID and a Finnish address.

What are the fees associated with company registration in Finland?
The registration fee for a limited liability company is €275, while the fee for a sole proprietorship is €60.

What documents are required for company registration in Finland?
The required documents include the articles of association, a shareholders’ agreement, a director’s CV, and proof of payment for the registration fee.

What is the minimum share capital requirement for a company in Finland?
The minimum share capital requirement for a limited liability company is €2,500.

Can a company have multiple founders in Finland?
Yes, a company can have multiple founders in Finland.

What is the role of a notary in company registration in Finland?
A notary is required to certify the articles of association for a limited liability company.

What are the advantages of registering a limited liability company in Finland?
Limited liability companies offer protection for the personal assets of the shareholders, and they have a more established reputation in the business world.

What are the disadvantages of registering a limited liability company in Finland?
Limited liability companies have higher registration fees and more extensive reporting requirements than sole proprietorships.

What are the advantages of registering a sole proprietorship in Finland?
Sole proprietorships have lower registration fees and simpler reporting requirements.

What are the disadvantages of registering a sole proprietorship in Finland?
Sole proprietorships offer no protection for the personal assets of the owner, and they may be perceived as less established in the business world.

What are the tax implications of company registration in Finland?
Companies are subject to corporate income tax, value-added tax (VAT), and social security contributions.

What are the post-registration requirements for a company in Finland?
Companies must register for VAT, obtain a business license if required, and file annual financial statements.

Can a company change its legal form after registration in Finland?
Yes, a company can change its legal form after registration in Finland.

What is the process for changing the legal form of a company in Finland?
The process involves amending the articles of association, obtaining shareholder approval, and registering the change with the Trade Register.

What are the requirements for changing the legal form of a company in Finland?
The requirements depend on the specific legal form being changed to and from. Generally, shareholder approval and registration with the Trade Register are necessary.

Can a company change its name after registration in Finland?
Yes, a company can change its name after registration in Finland.

What is the process for changing the name of a company in Finland?
The process involves amending the articles of association, obtaining shareholder approval, and registering the change with the Trade Register.

What are the requirements for changing the name of a company in Finland?
The company must have a valid reason for the name change, and the new name must not already be registered by another company.

What is the process for amending the articles of association of a company in Finland?
The process involves drafting the amended articles, obtaining shareholder approval, and registering the changes with the Trade Register.

What are the requirements for amending the articles of association of a company in Finland?
In order to amend the articles of association of a company in Finland, the company must first convene a meeting of shareholders and provide notice of the proposed amendments. The proposed amendments must be approved by at least two-thirds of the votes cast by the shareholders.

Can a company have a virtual office address in Finland?
Yes, a company can have a virtual office address in Finland. However, the company must ensure that the address meets certain requirements, such as having a physical address in Finland that can receive mail and having a designated contact person.

What are the requirements for a virtual office address in Finland?
The requirements for a virtual office address in Finland include having a physical address in Finland that can receive mail and having a designated contact person who is available during normal business hours.

Can a company use a residential address as its registered office address in Finland?
Yes, a company can use a residential address as its registered office address in Finland, provided that the address meets certain requirements, such as being a permanent address and not being used for any commercial activities.

What are the legal and regulatory requirements for starting a business in Finland?
The legal and regulatory requirements for starting a business in Finland include registering the business with the Finnish Trade Register, obtaining any necessary business licenses and permits, and complying with Finnish tax laws and regulations.

What are the legal and regulatory requirements for operating a business in Finland?
The legal and regulatory requirements for operating a business in Finland include complying with Finnish labor laws and regulations, environmental laws and regulations, health and safety laws and regulations, consumer protection laws and regulations, intellectual property laws and regulations, data protection laws and regulations, and anti-corruption laws and regulations.

What is the process for obtaining a business license in Finland?
The process for obtaining a business license in Finland varies depending on the type of business and the location of the business. In general, the process involves applying for the license with the appropriate authority and meeting any applicable requirements.

What are the requirements for obtaining a business license in Finland?
The requirements for obtaining a business license in Finland vary depending on the type of business and the location of the business. In general, the requirements include providing information about the business and meeting any applicable qualifications and standards.

What is the process for obtaining a tax ID number in Finland?
The process for obtaining a tax ID number in Finland involves registering with the Finnish Tax Administration and providing information about the business, such as the business name and address.

What are the requirements for obtaining a tax ID number in Finland?
The requirements for obtaining a tax ID number in Finland include registering with the Finnish Tax Administration and providing information about the business, such as the business name and address.

What is the process for opening a bank account for a company in Finland?
The process for opening a bank account for a company in Finland involves providing documentation, such as the company’s articles of association and business registration documents, and meeting any applicable requirements.

What are the requirements for opening a bank account for a company in Finland?
The requirements for opening a bank account for a company in Finland vary depending on the bank and the type of account. In general, the requirements include providing documentation, such as the company’s articles of association and business registration documents, and meeting any applicable requirements.

What are the options for financing a new business in Finland?
The options for financing a new business in Finland include obtaining loans from banks or other financial institutions, seeking investment from venture capitalists or angel investors, and applying for government grants or funding programs.

What are the options for financing an existing business in Finland?
Existing businesses in Finland can explore various options for financing, including bank loans, equity financing, venture capital, crowdfunding, and government grants.

What are the requirements for hiring employees in Finland?
Employers in Finland must comply with various requirements when hiring employees, including obtaining a valid tax registration and social security number for the employee, providing a written employment contract, and adhering to minimum wage and working hour regulations.

What are the labor laws and regulations in Finland?
The labor laws and regulations in Finland govern various aspects of the employment relationship, including minimum wage and working hour requirements, employee benefits, termination procedures, and workplace safety.

What are the tax laws and regulations in Finland?
The tax laws and regulations in Finland govern various aspects of taxation, including corporate income tax, value-added tax, payroll taxes, and capital gains tax.

What are the environmental laws and regulations in Finland?
The environmental laws and regulations in Finland cover various areas, including air and water quality, waste management, and the use of natural resources.

What are the health and safety laws and regulations in Finland?
The health and safety laws and regulations in Finland set out the minimum standards for workplace safety, including the provision of personal protective equipment, training for employees, and the reporting of workplace accidents.

What are the consumer protection laws and regulations in Finland?
The consumer protection laws and regulations in Finland aim to protect the rights of consumers, including provisions on product safety, advertising and marketing practices, and the handling of consumer complaints.

What are the intellectual property laws and regulations in Finland?
The intellectual property laws and regulations in Finland cover patents, trademarks, copyrights, and trade secrets, providing legal protection for various forms of intellectual property.

What are the data protection laws and regulations in Finland?
The data protection laws and regulations in Finland set out the requirements for the collection, processing, and storage of personal data, including the General Data Protection Regulation (GDPR) requirements of the European Union.

What are the anti-corruption laws and regulations in Finland?
The anti-corruption laws and regulations in Finland prohibit various forms of corruption and bribery, including the payment of bribes to public officials or other individuals in exchange for favors or preferential treatment.

What are the competition laws and regulations in Finland?
The competition laws and regulations in Finland aim to ensure fair competition in the marketplace, including provisions on price-fixing, anti-competitive mergers, and abuse of market dominance.

What are the import and export laws and regulations in Finland?
The import and export laws and regulations in Finland cover various aspects of international trade, including customs duties, trade agreements, and regulations on the import and export of certain goods.

What are the requirements for registering a trademark in Finland?
To register a trademark in Finland, an application must be filed with the Finnish Patent and Registration Office (PRH), including the desired trademark and a list of goods and services to which the trademark applies.

What are the requirements for registering a patent in Finland?
To register a patent in Finland, an application must be filed with the Finnish Patent and Registration Office (PRH), including a description of the invention, any relevant drawings or diagrams, and information on the inventor and any assignees.

Documents required to register a company

Articles of Association: This document outlines the rules and regulations of the company and includes information such as the company’s name, purpose, share capital, and shareholder information.

Company name reservation: A company name reservation certificate is required to register a company in Finland. This certificate confirms that the chosen name is available for use and has been reserved for the applicant.

Identification documents: All company directors and shareholders must provide their identification documents, such as a passport or ID card.

Registered office address: The company must have a registered office address in Finland, which must be a physical address.

Share capital payment confirmation: If the company is a limited liability company, the share capital must be paid in full before the company can be registered. A bank statement or other proof of payment is required to confirm that the share capital has been paid.

Appointment of a board of directors: The company must appoint at least one board member, who is responsible for overseeing the management of the company.

Minutes of the board meeting: A record of the board meeting is required to show that the appointment of the board members was approved.

Notarized documents: Some of the documents, such as the Articles of Association, may need to be notarized by a public notary.

Major Banks in Finland

Nordea Bank: Nordea Bank is the largest financial services group in the Nordic region. It has a significant presence in Finland, and offers a wide range of banking services, including personal and business banking, loans, investments, and insurance. Nordea has over 100 branches in Finland and more than 4 million customers.

OP Financial Group: OP Financial Group is one of the largest financial institutions in Finland. It is a cooperative bank that offers a range of banking services, including personal and business banking, insurance, and investments. OP Financial Group has over 200 branches in Finland and more than 4 million customers.

Danske Bank: Danske Bank is a Danish bank that has a significant presence in Finland. It offers a range of banking services, including personal and business banking, loans, investments, and insurance. Danske Bank has over 20 branches in Finland and serves more than 400,000 customers.

Handelsbanken: Handelsbanken is a Swedish bank that operates in Finland. It offers personal and business banking services, as well as wealth management and investment services. Handelsbanken has over 30 branches in Finland and more than 80,000 customers.

S-Pankki: S-Pankki is a Finnish bank that is owned by the S-Group, which is a cooperative of Finnish consumer cooperatives. It offers a range of banking services, including personal and business banking, loans, and investments. S-Pankki has over 100 branches in Finland and more than 2 million customers.

“Our team can provide assistance if you need to open a bank account in Finland ”

The top universities in Finland

University of Helsinki – QS Ranking #107
Location: Helsinki
Website: https://www.helsinki.fi/en
Major Courses: Social Sciences, Life Sciences, Arts and Humanities, Law, and Natural Sciences

Aalto University – QS Ranking #137
Location: Espoo
Website: https://www.aalto.fi/en
Major Courses: Engineering, Business, Art and Design, and Science

University of Turku – QS Ranking #285
Location: Turku
Website: https://www.utu.fi/en
Major Courses: Social Sciences, Humanities, Medicine, Law, and Science

University of Oulu – QS Ranking #309
Location: Oulu
Website: https://www.oulu.fi/en
Major Courses: Information Technology, Energy and Environment, Health Sciences, and Humanities

Tampere University – QS Ranking #356
Location: Tampere
Website: https://www.tuni.fi/en
Major Courses: Communication, Education, Health Sciences, Social Sciences, and Technology

University of Jyväskylä – QS Ranking #511-520
Location: Jyväskylä
Website: https://www.jyu.fi/en
Major Courses: Education, Humanities, Social Sciences, and Science

University of Eastern Finland – QS Ranking #551-560
Location: Joensuu and Kuopio
Website: https://www.uef.fi/en
Major Courses: Health Sciences, Social Sciences, Humanities, and Science

Lappeenranta-Lahti University of Technology (LUT) – QS Ranking #701-750
Location: Lappeenranta and Lahti
Website: https://www.lut.fi/en
Major Courses: Business, Technology, and Science

Åbo Akademi University – QS Ranking #751-800
Location: Turku and Vaasa
Website: https://www.abo.fi/en/
Major Courses: Arts and Humanities, Social Sciences, and Science

University of Vaasa – QS Ranking #801-1000
Location: Vaasa
Website: https://www.univaasa.fi/en/
Major Courses: Business, Technology, and Administration.

“If you need assistance registering for college or university, our team is here to help.”

Strange or unusual to visitors in Finland

Sauna culture: Saunas are an integral part of Finnish culture, and it’s common for Finns to have a sauna in their home or apartment building. It’s also customary to go to the sauna naked or in a swimsuit, which might feel strange to visitors from more modest cultures.

Personal space: Finns tend to value their personal space, so don’t be surprised if they stand farther away from you than you’re used to during conversations. It’s not considered rude, just a cultural norm.

Silence: Finns value silence and often enjoy spending time in quiet environments. It’s not uncommon to see people sitting in silence on public transportation or in cafes.

Tipping: Tipping is not expected in Finland, as service charges are usually included in the bill. However, rounding up the bill to the nearest euro is appreciated.

Winter darkness: During the winter months, the sun rises late and sets early in Finland, which can be disorienting for visitors from countries with more sunlight. However, this also means that the northern lights are visible, which is a unique and beautiful experience.

Finnish language: The Finnish language is very different from most European languages, and its complex grammar and pronunciation can be difficult for non-native speakers to grasp. However, most Finns speak English fluently, so visitors should have no trouble communicating.

“Tips for Newcomers: Adjusting to Life in Finland ”

Embrace the Finnish culture: Finland has a unique culture, and it’s important to respect and embrace it. Take some time to learn about Finnish customs, traditions, and values, and try to incorporate them into your daily life.

Learn the language: Although many Finns speak English, learning the Finnish language can help you to better integrate into Finnish society and understand the culture. There are many language courses available, both online and in-person.

Get involved in activities: Joining clubs or organizations that align with your interests can be a great way to meet people and build a social network. Finns enjoy spending time in nature, so consider joining a hiking or skiing group.

Stay active: Finland has a strong sports culture, and staying active can help you feel better physically and mentally. Try activities like running, cycling, swimming, or even ice swimming in the winter.

Stay warm: Finland can be very cold in the winter, so it’s important to dress appropriately. Invest in warm clothing, including a good quality winter coat, hat, gloves, and boots.

Take advantage of public services: Finland has a comprehensive public service system, including healthcare, education, and public transportation. Take advantage of these services and learn how they work.

Embrace the sauna culture: Saunas are an important part of Finnish culture, and many Finns take a sauna once a week or more. Try it out for yourself and embrace this unique aspect of Finnish culture.

Connect with other expats: There are many expat groups and communities in Finland, which can be a great source of support and information. Join online groups or attend events to connect with other people who have moved to Finland.

Be patient: Adjusting to a new country takes time, so be patient with yourself and don’t be too hard on yourself if you’re feeling homesick or overwhelmed. Take it one day at a time, and you’ll soon start to feel at home in Finland.

Top recruitment agencies in Finland

Barona – https://www.barona.fi/
Academic Work – https://www.academicwork.fi/
Manpower – https://www.manpower.fi/
Opteam – https://www.opteam.fi/
Eilakaisla – https://www.eilakaisla.fi/
Personnel Group – https://www.personnel.fi/
Adecco – https://www.adecco.fi/
StaffPoint – https://www.staffpoint.fi/
HR Yhtiöt – https://hryhtiot.fi/
VMP Group – https://www.vmp.fi/

Necessary phone numbers in Finland

Emergency Services (Police, Fire, Ambulance): 112
Medical Helpline: 116 117
Social Emergency and Crisis Helpline: 020 696 006
Poison Information Center: 0800 147 111
Non-Emergency Police: 0295 480 501
Helsinki City Emergency Services: 09 310 30151
Foreign Ministry Emergency Service Center: +358 9 1605 5555
Tourist Information: 0600 308 999 (€1.50/min + local network charge)
Helsinki Region Transport (HSL) service number: 09 4766 4000
Taxi Service: 0100 0700 (€1.17 + local network charge)
Finnish Customs Information: +358 295 5206
Finland Border Guard: +358 295 420 100

The best way to immigrate to Finland

Employment: One of the most common ways to immigrate to Finland is through employment. If you have a job offer from a Finnish employer, you can apply for a work permit and residence permit. The employer must demonstrate that they were not able to find a suitable candidate from within the European Union before offering the job to a non-EU citizen.

Studying: If you are a student, you can apply for a student residence permit to study in Finland. After completing your studies, you can apply for a job and work permit.

Family ties: If you have a family member who is a Finnish citizen or a resident of Finland, you may be eligible for a family reunification permit.

Start-up entrepreneurship: If you want to start a business in Finland, you can apply for a start-up entrepreneur residence permit. To be eligible, you must have a viable business plan and secure funding.

Humanitarian grounds: If you are a refugee or have been granted asylum, you may be eligible for a residence permit.