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Finland

Legal form:

Ltd, Oy, Ab

Delivery:

4 weeks

Price: $

$1,000

Payment methods:

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Finland

Email

Phone

Listing
Open website
UK comapny formation (1).webp

About

Finland

Capital
Official languages
Population 
Currency

ISO 4217

Helsinki

Finnish and Swedish

5.5 million

Euro

EUR

FAQ

FAQ for company formation in Finland


Q: What are the different types of companies that can be formed in Finland?

A: There are several types of companies that can be formed in Finland, including private limited companies, public limited companies, general partnerships, limited partnerships, and co-operatives.


Q: What is the minimum share capital required to form a private limited company in Finland?

A: The minimum share capital required to form a private limited company in Finland is €2,500.


Q: What is the process for registering a company in Finland?

A: The process for registering a company in Finland involves submitting an application to the Finnish Patent and Registration Office (PRH), which includes details such as the company's name, registered address, share capital, and information about the company's directors and shareholders.


Q: How long does it take to register a company in Finland?

A: The registration process for a company in Finland can take up to 1-2 weeks, depending on the workload of the Finnish Patent and Registration Office.


Q: Are there any special requirements for foreign companies looking to do business in Finland?

A: Foreign companies looking to do business in Finland are required to register with the Finnish Trade Register and obtain a Finnish Business ID number. Additionally, foreign companies may be required to appoint a representative in Finland.


Q: What are the tax requirements for companies in Finland?

A: Companies in Finland are subject to corporate income tax, which is currently set at a rate of 20%. Additionally, companies are required to pay value-added tax (VAT) on goods and services sold in Finland.


Q: What are the accounting requirements for companies in Finland?

A: Companies in Finland are required to keep accurate and up-to-date financial records, which must be maintained in accordance with Finnish accounting standards. Companies are also required to file annual financial statements and tax returns with the Finnish Tax Administration.


Q: Can a foreigner own a company in Finland?

A: Yes, foreigners are allowed to own and operate companies in Finland, provided they meet the requirements for company registration and have the necessary permits to work in Finland.

Economy

Finland has a strong and stable economy, with a GDP of $269.7 billion in 2019. The country has a high standard of living, with a per capita GDP of $50,845 in 2019. Finland also has a low unemployment rate of 6.2%, and a low inflation rate of 1.2%. The country has a strong export sector, with exports accounting for 33.2% of its GDP in 2019. Finland is also a major producer of renewable energy, with renewable energy sources accounting for 33.2% of its total energy production in 2019. The country is also a major producer of technology, with the technology sector accounting for 17.2% of its GDP in 2019. Overall, Finland has a strong and stable economy, with a high standard of living and a strong export sector.

Taxation

Finland has a progressive tax system, meaning that higher incomes are taxed at a higher rate than lower incomes. Both corporations and individuals are subject to taxes in Finland.


Corporate taxation in Finland is currently at a flat rate of 20%. However, there are some deductions and allowances available, such as those for research and development, investment in machinery and equipment, and charitable donations.


Individuals in Finland are subject to a progressive tax system that includes both national and local taxes. The tax rates for national income tax range from 6% to 31.25% depending on the income level. Local taxes, which vary by municipality, are typically in the range of 16%-22%.


The tax year in Finland runs from 1 January to 31 December, and tax returns must be filed by 2 May of the following year. Taxpayers can file their returns electronically or on paper. Tax payments are typically due in two instalments, with the first instalment due in February and the second instalment due in May.


Taxpayers in Finland can choose to pay their taxes either monthly or in a lump sum. Monthly payments are based on the previous year's tax assessment and are paid on the 12th day of each month. Lump sum payments are due in September and can be paid either online or at a bank.


In addition to income taxes, there are also taxes on capital gains, dividends, and other types of income. Employers are also required to withhold taxes from their employees' paychecks and remit those taxes to the government on a monthly basis.


Finland has a relatively high tax rate compared to some other countries, but it also provides a high level of public services, including healthcare, education, and social welfare programs.

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