Finland Company Formation

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Finland

Company Formation and Related Services

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Company Formation in Finland

F.A.Q.

Company incorporation in Finland is quick, simple and implies low costs. When establishing a company in Finland, the first step is to choose three company names and submit them for approval.

The following conditions must be met in order to facilitate the registration procedure:

− the client must deposit the required share capital in a bank;

− submit a start-up notification form to the National Board of Patents and Registration (NBPR) and to the tax authorities;

− apply for pension insurance, accident insurance and medical insurance of his/her employees;

− present identification documents, such as passport copies, identification cards or driver license of both shareholders and directors and a recent utility bill or a bank statement as proof of residential address;

− submit the articles of association of the company that must contain the names and addresses of the shareholders and directors of the company (Finnish Company Law requires a number of one to five shareholders); the company’s main business purpose for taxation; the shares’ value in the company;

− in order to open a bank account, identification documents are required together with the application forms from the bank where the share capital will be deposited and details about the company’s activities and banking relations and the resolution for opening the bank account and the persons appointed to operate the account. The share capital must be deposited in the bank account before the company is registered with the Finnish Trade Register.

Once all documents are ready they will be submitted with the Finnish Trade Register.

Any person no matter his or her nationality or residency can be a director or a shareholder in a company in Finland. There must be at least two members in the board of directors and at least one member and one supplementary member must be an EU resident. Finnish companies are not required to have a managing director, but if a director is chosen, he or she must be an EU resident.

The company must have a local registered office and BridgeWest offers this type of service.

A Finnish limited company is required to have a start-up capital of 2,500 EUR and it is also required to have an accountant.

Bridgewest provides the following services:

- drawing up the articles of association that can be signed through power of attorney (Finnish laws require powers of attorney for any public notary proceedings);

- drawing up documents for company incorporation in Finland: specimen signatures, identification papers copies, application form required for company registration;

- arranging public notary proceedings (all procedures for company incorporation are done in front of a Finnish public notary);

- providing a registered office in Finland on demand; the registered office serves as headquarters for the company in Finland and it will be made public;

- setting up a bank account for the company in Finland; BridgeWest will help in setting up the share capital bank account, as well as a current bank account once the company is incorporated;

- recommending a Finnish accountant, as accounting services are needed for new businesses in Finland.


Types of companies in Finland


The Finnish limited liability company

The limited liability company in Finland can be private (osakeyhtiö-Oy) or public (julkinen osakeyhtiö-Oyj). Private companies cannot trade their shares on the stock exchange, while public companies are allowed to do so. Private limited companies require a minimum share capital of 2,500 EUR, while public companies require a minimum share capital of 80,000 EUR. Shareholders of both private and public limited companies will not be held liable for the companies’ obligations, but they must make specific contributions.

The limited partnership in Finland

Finnish limited partnerships can be registered by two or more individuals or legal entities. The general partner will be fully held liable for the partnership’s obligations, while the limited partner will be held liable to the extent of his/her contributions. The general partner will have managerial rights and will be allowed to claim profits, while the limited or silent partner will have no right in making managerial decisions. The limited partnership is required to register with the Finnish Trade Register.

Finnish branch, subsidiary or representative office

Foreign companies are allowed to set up separate enterprises from the parent company, where the foreign company will be a shareholder in a Finnish company. Foreign companies can also open extensions of the parent company in Finland.



Taxation in Finland



The corporate tax in Finland is 20%.

The standard VAT rate in Finland is 24%, but reduced rates of 14% and 10% apply to certain products.

There is no dividend tax paid to a Finnish company, but there is a 20% tax for dividends distributed to foreign companies that do not have a registered office in Finland.

There is no withholding tax on interests. Royalties are subject to a 20% tax, unless double taxation treaties are enforced.

BridgeWest is also able to offer ready-made Finnish companies and VAT registration.

Please contact us for more information and prices.

 

 

 

 



Articles on Company Formation in Finland

Types of Finnish Companies

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Set up a Finnish company

Finland is a fruitful place to develop a business, having a highly industrialized mixed economy and a simple process for setting up a new company, procedure accomplished by following few steps. In Finland the two most popular company types are the private and public limited company.   Prelimina ...

Board of Patents and Registration of Finland

The Finnish Trade Register is included in the National Board of Patents and Registration of Finland under the Trade Register Act (Kaupparekisterilaki 129/1979). It is a public institution that contains information on merchants, traders and businesses. Its main purpose is to serve and supervise the b ...

Open Company Branch or Subsidiary in Finland

The state of Finland offers great incentives for foreign investment and also it represents a country full of opportunities for entrepreneurs in many sectors. Engaging in commercial activities can be done through establishment of a brand new Finish company, or by setting up a company branch in Finlan ...

Shelf Company in Finland

There are various ways to invest in Finland, a country that offers plenty incentives with a permanently developing economy. Entrepreneurs can start a new business on the territory of Finland by setting up a business. Even though the procedure is not very common, an investor may choose to buy a Finni ...

Paying Taxes in Finland

1. What is the corporate tax in Finland? Companies that are set up in Finland have to subdue to a corporate tax rate of 24.5%. All companies that are resident in Finland have to pay the corporate tax for the worldwide income, while those that are not Finnish residents must pay only for th ...

VAT in Finland

1. What is the VAT in Finland? Finnish VAT is mostly applied at a standard rate of 23%. There are however some exceptions from this rate. For instance, VAT for food products is 13%. Books, cultural events, accommodation and medicine are only subject to a 9% VAT rate in Finland. Nevertheless, exports ...

Why Invest in Finland

Foreign investors are attracted to Finland as a destination for setting up a new business. The reasons include the location, the infrastructure and reduced rate of corruption. It is no wonder why Finland is situated in high positions in different international ratings for economic stability. The min ...

Lawyer in Finland

The legal profession in Finland falls under the Advocates Act 1958/496. A lawyer in Finland must observe the Rules of Proper Professional Conduct for Advocates. Legal practitioners in Finland can be either members of the Finnish Bar Association or non-members, but only those who are registered with ...

Finnish Public Notary

The profession of public notary in Finland is regulated by law. A public notary in Finland can only be employed by local register offices or jurisdictional district offices. A public notary in Finland is a state official. Finnish public notaries do not fulfill this position full-time. Many public no ...

Company Liquidation in Finland

BridgeWest handles all steps required for company liquidation in Finland. Please contact us via email or phone for appointing a liquidator to carry on the company dissolution, submitting the required application forms, dealing with the Court, closing the company's bank account or any other ...

Open a Representative Office in Finland

BridgeWest handles opening representative offices in Finland and in other European countries. For more information, please contact us. What are the special requirements for creating a Finnish Representative Office? To increase the presence at a global level and assist their clients who wish to do b ...

Register a Non Profit Organization in Finland

The Finish associations, forms of non-profit organizations, are regulated by the Finnish Associations Act. According to it, the associations must be registered in the Finnish Register of Associations before starting any activities. This way, the members of the association are not liable for its acti ...

Nominee Director in Finland

 A nominee director is a term used in order to appoint a person which is replacing the beneficial owners of a company from the incorporation documents in order to protect their identities. Usually is appointed in the company’s articles of association and can be an individual or a corporat ...

Open Business in Finland
We guarantee a cost-efficient solution for full company setup, bank account and VAT registration

Meet us in Helsinki

Call us now at +44 203 287 0408 to set up an appointment with our lawyers in Helsinki, Finland. Alternatively you can incorporate your company without traveling to Finland.

As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Finland.