Company Formation Finland
Finland is a relatively small European country located in the Northern side of the continent. The country, which has a population of more than 5 million people borders other Nordic countries like Norway, Sweden, Russia, and the Baltic Sea. The country joined the European Union in 1995. Helsinki, its capital city, is one of the best-known cities in the world. Finland has a GDP of more than $251 billion, making it the 17th largest economy in the European Union. Finland, like other Nordic countries, ranks high on social indices such as happiness and satisfaction. 60% of the Finnish economy is represented by the service sector. Other main industries are electronics, machinery, and vehicles.
Why Register a Company in Finland?
- Finland is one of the best countries to do business.
- The government has started to lower taxes. The corporate tax is set to drop to 20%.
- Finland has strong neighbours that have a strong purchasing power.
- Finland has developed infrastructure that makes it easy to do business.
- Finland has a low unemployment rate
- The Finnish government is known for its strong support for businesses.
Steps of Registering a Company in Finland
The process of starting a company in Finland is relatively easy. The government has put in place these measures to attract foreign direct investments.
First, as with all countries, the business needs to have a name. This search is done at the country’s online portal for business registration.
If the name is accepted, you need to complete Form Y. This is a form where you are supposed to enter all the details of the business. As you submit this form, you should also submit other documents like:
- Memorandum of association
- Identification details of the shareholders.
- Personal data of the directors.
- The type of business you are registering.
- Physical address of the company.
- Name and identity of the auditors.
After this, you should pay the minimum share capital. Some business entities like sole proprietorship do not need a minimum share capital. Also, you need to register with the local chamber of commerce and other professional bodies.
FAQs on Business Registration in Finland
What are the types of businesses that can be registered in Finland?
There are several types of businesses that you can register in Finland. These are sole proprietorship, limited liability companies, partnerships, branch of a foreign company, cooperative, and a public company.
What is the minimum share capital for a company in Finland?
Sole proprietorships and partnerships do not require a minimum share capital. However, the sole proprietorship is only required for very small companies. The minimum share capital for a private limited company is EUR 2,500 while that of a public limited company is EUR 80,000.
How long does it take to register a company in Finland?
It takes less than a week to register a sole proprietorship. Other types of businesses take less than 3 months to complete.
Do I need to be physically present to register a company in Finland?
It is important that you be present to register a company in Finland. However, you can use the services of a company like GFSC Global to register the company. Doing this will make it easy for you to register the company. GFSC will also offer you additional support like office space and other types of consultations.
Apply for our Finland Company Formations Services
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