Finland is an interesting country to incorporate a company due to its stable economic climate and high level of business transparency. The country ranks high in the ease of doing business and innovation rankings, making it an ideal location for startups and technology companies. Finland offers a simple and fast registration procedure, as well as access to a wide range of government services and business support programs. Finland's tax system is one of the most transparent and competitive in Europe, which helps to reduce administrative hurdles for new businesses. In addition, Finland is a member of the European Union, which provides access to the huge EU market and facilitates international trade.
The country is known for its highly skilled labor force and developed infrastructure, including modern communication and logistics technologies. The Finnish government actively supports innovation and research by providing grants and financial assistance for the development of new technologies. Registering a company in Finland also provides an opportunity to capitalize on the country's reputation as a reliable and stable partner in the international arena. Together, all these factors make Finland an excellent choice for business registration and development.
Manimama ensures a seamless company registration process in Finland. Trust us to provide expert guidance and support, so your business can thrive from day one in Finland. Start your journey with confidence, knowing you have the best team by your side.
Legal Opinion about Finland as a Jurisdiction for Company Formation
Ganna Voievodina
Manimama, CEO
“Incorporating a company in Finland provides a stable and transparent economic environment, efficient registration processes, and competitive tax rates, making it an ideal location for business operations. Contact us and we will help you to quickly complete the registration of your company in Finland”.
Our Packages
Our comprehensive packages simplify the process of setting up the perfect legal entity for your business whether you are a small start-up, a non-profit company, or an international company. Let us guide you through every step, ensuring your business begins on a solid foundation.
Company Formation
- Choosing a company name
- Registered address for 1 year
- Company incorporation on-line or within a notary deal
- Banking account for the shared capital
- Full set of corporate documents after incorporation
Corporate Services
- VAT registration
- Apostille corporate documents
- Accounting
- Local director
Payment Options
- Payment account in EU EMI
- Banking account in EU bank
- Corporate account on a crypto exchange
- Many other options
Key Numbers about Finland as a Jurisdiction for Company Formation
at least 1director for an LLC |
up to 2-3 weekstimeline for a company registration |
norequirement for share capital |
20%corporate income tax (CIT) rate |
12.64-44%personal income tax (PIT) rate |
24%value added tax (VAT) rate |
Set up Your Company in Finland in Several Steps
Step 1. Initial setup
- Initiating a preliminary project assessment
- Preparation and filing of the package of documents
Step 2. Company registration
- Choosing and reserving a company name with the Finnish Trade Register at Finnish Patent and Registration Office
- Preparation of the company’s founding documents
- Opening a bank account for the company (it is activated when the company is registered in the Finnish Trade Register)
- Registration of the company with the Finnish Trade Register
- Obtaining the Certificate of incorporation, Memorandum and Articles of Association
- Registration for tax and social security purposes
Requirements for Company Formation in Finland
Before deciding to set up a new company in Finland, read the information below to understand the characteristics of a Limited Liability Company (LLC) / Osakeyhtiö (Oy):
Shareholders: the company must have minimum 1 shareholder.
Director: the company is required to have at least 1 director. The director and the owner can be the same person and there are no restrictions on the person’s country of residence. In addition, the company must appoint at least one representative. The director and deputy director must be individuals, and must also be shareholders of the company.
Company secretary: no requirement.
Minimum share capital: there is no requirement to the amount of share capital.
Legal address: the company must have a registration address in Finland.
Liability: the liability of shareholders is restricted to the amount of their investments.
Accounting: financial statements (profit and loss account, balance sheet and notes to the accounts) should be filed with the Trade Register annually.
Taxes in Finland
- The standard rate is 20%.
- The deadline for filing CIT returns is typically by the end of the fourth month after the fiscal year-end.
- The Finnish Tax Administration provides an online platform for returns, ensuring a streamlined and efficient filing process.
- Tax credits and incentives - the research and development (R&D) tax credit and for investments in startup companies.
- The rates are as follows:
- €0 - €20,500 - 12.64%
- €20,500 - €30,500 - 19%
- €30,500 - €50,400 - 30.25%
- €50,400 - €88,200 - 34%
- €88,200 - €150,000 - 42%
- over €150,000 - 44%
- Municipal tax is charged at a flat rate on taxable income determined for municipal taxation. The rate varies from 4.4% to 10.8% depending on the municipality.
- The standard rate is 24%.
- The reduced rates are 14% (foodstuffs, restaurants) and 10% (for public transportation and cultural events).
- Companies must register for VAT if their annual sales exceed €15,000.
Double taxation avoidance agreements in Finland: Albania, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Barbados, Belarus, Belgium, Bermuda, Bosnia and Herzegovina, Brazil, British Virgin Islands, Bulgaria, Canada, Cayman Islands, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Faroe Islands, France, Georgia, Germany, Greece, Guernsey, Hungary, Iceland, India, Indonesia, Ireland, Republic of, Isle of Man, Israel, Italy, Japan, Jersey, Kazakhstan, Korea, Republic of, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mexico, Moldova, Montenegro, Morocco, Netherlands, Netherlands Antilles, New Zealand, Norway, Pakistan, Philippines, Poland, Portugal (not in force), Romania, Russia, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Tajikistan, Tanzania, Thailand, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vietnam, Zambia.
Start Your Company Formation Process with Manimama
There are numerous reasons why Manimama is the leading company formation agent in Finland:
Expertise in Finnish Regulations
- 1. Manimama has an in-depth understanding of Finland's legal and regulatory framework.
- 2. Our team ensures all legal requirements are meticulously met for a seamless company formation process.
Local and International Experience
- 1. With extensive experience in both local and international markets, Manimama can cater to a diverse range of business needs.
- 2. Our expertise spans various industries, providing customized solutions for each client.
Efficient and Timely Service
- 1. We pride ourselves on our swift turnaround times, ensuring your company is registered promptly.
- 2. Our efficient processes minimize delays and get your business up and running quickly.
Client-Centric Approach
- 1. Manimama prioritizes customer satisfaction by offering personalized support and guidance.
- 2. Our dedicated team is always available to address any concerns and provide expert advice.
Robust Network of Local Partners
- 1. We have established strong relationships with local authorities, banks, and service providers.
- 2. This network ensures that your business receives the best possible support and resources.
Ongoing Compliance Support
- 1. We provide continuous support to ensure your business remains compliant with Finnish laws.
- 2. Our team keeps you updated on any regulatory changes that may impact your company.
Frequently Asked Questions
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What are the benefits of registering a company in Finland?Finland offers a stable economy, transparent business environment, competitive tax rates, and access to the EU market.
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What is the process for registering a company in Finland?The process involves choosing a company name, preparing the necessary documentation, filing with the Finnish Trade Register, and obtaining necessary permits and licenses.
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How long does it take to register a company in Finland?Registration typically takes 2-3 weeks if all documents are in order.
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What documents are required to register a company in Finland?Required documents include the memorandum of association, articles of association, and identification documents for founders and directors.
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What are the minimum capital requirements for an LLC in Finland?The minimum share capital for a private limited company (Oy) is €1.
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Can a foreigner register a company in Finland?Yes, foreigners can register a company in Finland, although some requirements may vary for non-EEA residents.
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What are the tax implications of registering a company in Finland?Companies are subject to corporate income tax, VAT, and employer contributions if they hire employees.
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What is the corporate tax rate in Finland?The corporate tax rate is 20%.
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What are the ongoing compliance requirements for companies registered in Finland?Companies must file annual financial statements, pay taxes, and comply with employment and health regulations.
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Is it mandatory to have a physical office in Finland?No, but a registered address in Finland is required for official correspondence.
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Can I register a company online in Finland?Yes, the Finnish Patent and Registration Office (PRH) allows for online company registration.
Client Feedbacks
“Their team's professionalism, responsiveness, and personalized approach made me feel confident and supported throughout my case”.
“I enthusiastically endorse Manimama OU to anyone seeking top-notch legal experts”.
"The Manimama team went above and beyond to ensure a favorable outcome, and I couldn't be happier with the results”.
Manimama as the Best Solution for Your Company Formation in Finland
By choosing our company formation service in Finland, you are partnering with a law firm that values integrity, expertise, and client satisfaction. Let us help you set up your company in Finland and pave the way for your business success.
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The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.