Company Formation in Finland

Company Formation in Finland

Company formation in Finland is simple as our lawyers prepare and take care of all the documentation for you to start business in Finland quickly. Our Helsinki office provides a wide range of corporate services tailored to fit your needs. We can provide you with a turnkey solution with all necessary business services.

How we can support you in starting business in Finland:

Setting up a new limited liability company, including new shelf companies ready for business;

VAT,  prepayment and employment registrations, including on-going accounting and reporting;

Registered office address, registered agent and local representative service, banking advisory.

The most time and cost efficient approach to register a company in Finland is to utilize our know-how and experience in setting up hundreds of companies as a professional advisor. The company setup can be completed fully remotely without travelling. We would be glad to help you choose the best approach (e.g. new shelf company or new company formation) according to your objectives and specific circumstances. After the company has been set up we also provide on-going support services including but not limited to accounting, payroll, physical meeting room rental and local virtual office address. Finnish company formation pricing starts from 1980 EUR, for more information contact us for a free case evaluation and a detailed price quote »

Company in Finland

We'll get you started in Finland!

We have helped hundreds of businesses to set up in Finland. We offer time and cost efficient remote setup packages with no travel needed. Our pricing for company formation in Finland starts from 1980 euros.

Priced from 1980 euros
Remote setup in 5 to 10 days
New shelf companies available
Accounting & tax advisory
VAT and tax registrations support

Limited Liability Company in Finland

The Finnish limited liability company (Osakeyhtiö or Oy in Finnish) is the most common formof business in Finland as its shareholders have no personal proprietary liability for the company’s obligations. Our new limited liability shelf companies are registered in the Commercial Registry with an active registration number and no previous activity – in some cases we also create the new company as tailor-made according to your order. All Finnish shelf companies come with our 100% clean balance sheet guarantee and the share capital payment pre-registered, hence there is no need to put up the share capital.

Running a limited company in Finland comes with certain requirements on residency as there are restrictions for the management board members outside of the European Economic Area. We can provide all necessary services and we will work out a solution specific for your project.

The Finnish company setup can be carried out fully remotely with no travel. Alternatively, you are also welcome to schedule an appointment at our office in Helsinki for the documentation signing. We prepare the full package of legal documentation and submit all applications on your behalf – we only require the basic information from your side to fill and submit the documents. After the Commercial Registry has processed all changes we forward the full legal documentation to you. It usually takes 5-15 business days for the registry to update their database to show the new board member(s) and company information. It takes an additional 2-5 weeks for certain tax registrations depending on the work-load of the local governmental authorities.

What are the steps?

Step 1: Get in touch for consultation
Let us know of your target objectives and we propose the best solution for your consideration. Preliminary consultation and detailed price quotes are free of charge.

Step 2: We take care of everything
We collect and prepare all legal documentation and forward for your confirmation and signatures. As an option we offer full remote service, no travel is needed for the company formation in Finland.

Step 3: Start business in Finland
We take care of all applications and set up any corporate services needed. We notify you when the process is finalized and when your company in Finland is ready for business.

Corporate services in Finland

We provide a full range of corporate services in Finland including company formations, VAT and tax registrations, legal and tax advisory, virtual registered office, accounting&payroll, consultation in joining with trade unions, licensing and bank account opening support. Corporate secretarial services on request.

Our virtual office service is a flexible solution for companies who do not need a physical office in Finland. Our legal address in Helsinki will be used for registering with the Commercial Registry and as the administrative address for the company to receive postage. The postage sent to your company will be forwarded to you by e-mail (scanned copy) or by regular mail on request. We can also set up individual local telephone and fax numbers as well as a local domain name with web hosting for your company.

Our accounting department can take care of all of your Finnish company bookkeeping, as well as consult about financial and tax questions. The monthly cost of bookkeeping depends on the company profile, for example on the number of transactions and payroll calculations. Financial statements have to be submitted annually while VAT returns and social tax declarations have to be submitted monthly.

We work with several banks (e.g. Aktia bank and Nordea Bank) to ensure the most time efficient opening of a business bank account for your company in Finland. To set up the account, a board member has to be present for a face to face meeting during the first application stage. The payment card and online banking security token are received in the second stage. Our compliance team will consult on choosing the best bank for your business and provide support through the account opening process.

It is also possible to open a fully functioning business bank account with an individual IBAN account number and with a VISA payment card for your company in Finland, fully remotely over the internet and no visit required. We have covered this option in our Knowledge Center: Online bank account with IBAN and payment card

The management board must include at least 1 board and 1 substitute member (varajäsen) who is an EU/EEA resident. We offer the substitute member support service on request. In case of three or more management board members the substitute member is not required. Good to know: The Finnish commercial registry does not disclose any information regarding shareholders.

An audit is required when one of the following criteria are exceeded for two consecutive years:

  • Annual net sales of 200 000 euros and more
  • Balance sheet volume of 100 000 euros and more
  • An average of 3 employees in the financial year

Taxation basics in Finland

We have listed the main corporate taxation key points in Finland. For more specific tax related questions contact us for consultation with our country specific tax specialist.

Finland levies a 20% corporate income tax on all worldwide income. Corporate tax is imposed on a company’s profits, which consist of business income, passive income and capital gains. Normal business expenses may be deducted in computing taxable income.

Dividends paid to a nonresident company are subject to a 20% withholding tax, unless the rate is reduced under a tax treaty or an exemption applies under the EU parent-subsidiary directive. Dividends paid to nonresident individuals are subject to a 30% tax rate, unless reduced or eliminated under an applicable tax treaty. Shareholders residing in the EU/EEA may be treated the same as a Finnish resident shareholder with respect to dividend distribution.

Finland levies a 24% VAT rate on most goods and services. There is a 14% reduced rate on food, animal feed, restaurant and catering services and a 10% reduced rate on books, pharmaceutical products, event admission, accommodation services, and passenger transport. The registration threshold for VAT is 10.000 EUR. Tax declarations must be prepared monthly.

Finland has no defined minimum wage, but wages are based on collective agreements between employers and trade unions/workers. All workers in Finland are covered under these agreements.

Frequently Asked Questions

Below we have included the frequently asked questions for company formation and corporate services in Finland and the appropriate answers.

What documentation is needed?

In order to register and process your order we ask for you your passport scan, residential address (w. utility bill) and contact details.

How long does it take?

It usually takes 5-15 business days for the Commercial Registry to process the company setup. The processing times are dependent on the registry work-load.  It can take an additional 2-5 weeks for certain tax registrations such as the VAT and prepayment registry registration depending on the workload of the local governmental authorities.

Do I have to come to Finland?

The company setup procedures can be processed fully remotely with travel to Finland not required.

What are credentials? credentials are needed to access all local government authorities services online, e.g. the tax office. If one does not have a Finnish bank account user credentials then user must created. We can support with the paperwork and application submission.

What if I am not from the EU?

The Finnish commercial code sets forward the requirement to have 1 management board member and 1 board deputy member who are residents of the European Economic Area. It is possible to legally bypass this requirement by applying for an exemption from the registry. We have processed many such successful exemption applications for participants from Switzerland and USA.

How much does it cost?

Our pricing for both new company formation and new shelf companies in Finland starts at 1980 EUR. The final cost of your project will depend on further services required such as local registered office address, registered agent service or similar. Also the annual costs will depend on the list of required services. We would be glad to provide a detailed quote specific to your project.

Do I need registered office address?

Having a local registered office address is mandatory for every Finnish company. The legal address will be shown in the commercial registry and the official letters addressed to the company will be sent to this address. We provide a virtual registered office address in Helsinki as a service and forward the postage received as scanned copies to your e-mail.

Can I choose the company name?

Yes, you can choose the company business name in case of new company incorporation. It is subject to registry availability. In case of shelf company purchase additional registry fees apply for the business name change. Usually 3 business name options are provided to the registry and the registry provides their final confirmation on one. You may check availability for the name: FINNISH PATENT AND REGISTRATION OFFICE AND FINNISH

How do I open the bank account?

There is no shortage of international and local banks in Finland and banking systems are highly advanced, however opening a bank account can be challenging and take time. It is not possible to open the bank account by proxy or by Power of Attorney, a face to face meeting is required at the bank. However, as a solution for a quick start it is also possible to open with a fintech bank in the European Union which can be done online with no visit needed and then proceed to opening with a local traditional bank in Finland in later steps.

What about reporting requirements?

Irrespective of size, the Finnish limited company has to file annual accounts with the commercial registry once a year. Small companies are exempted from the requirement of appointing an auditor. VAT returns and social tax declarations have to be submitted monthly. Our accounting department can take care of all reporting requirements on your behalf.

How to register for VAT?

We support in preparation and submission for VAT registration and all other necessary tax registries on your behalf.

How do I get started?

In the first step please let us know of your objectives for setting up a company in Finland. In the second step we propose the best solution with a step-by-step overview and a detailed price quote for company formation in Finland. In the third step we take care of all legal documentation and applications.

Questions? Interested in starting business in Finland?

Questions regarding company formation in Finland will be answered promptly by contacting us through the contact form below. If you would like to receive an overview of procedures and pricing break-down for your project we kindly ask to include preliminary information, for example how many participants will be in the company structure and which country residency they hold. Our country manager will respond shortly with more information to address your case including detailed procedures, timing and pricing break-down.

    Contact details

    Our office in Finland is located in Helsinki. Please schedule an appointment beforehand to be connected with our country manager.

    Call our head office at +372.50.43.245

    E-mail us at

    Helsinki office address:
    Mikkolantie 1, 00640 Helsinki, Finland