Setting up a business in Finland is a straightforward process that takes only a couple of weeks. Read on for an overview of the five-step process.
Start the process by choosing a unique name that is relevant to the business. The name must also satisfy certain legal requirements. Check the Business Information System (BIS / YTJ) for the names that are already in use in Finland.
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Most foreign companies and organizations in Finland operate as private or public limited liability companies or through a Finnish branch office. Other options for a business entity are general or limited partnerships or co-operatives.
In Finnish sources translated into English, business structure is often referred to by other terms, such as “company form”, “form of enterprise” or “form of business”.
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Some trades and professions are regulated and subject to license. Examples of such businesses are serving of alcohol, debt collection, and security guard business.
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To register your company, file a start-up notification to the Trade Register and the Tax Administration. This can be done by one single form called the “Y form”.
The Trade Register announce their processing times monthly. You can monitor the progress of your notification via their online service Virre.
Foreign companies starting business operations in Finland:
Establishing a new company based in Finland:
Now it’s time to focus on practicalities. Open a separate bank account for your company, arrange accounting, rent or buy premises, and take the necessary insurances.
You can also create an account in My Enterprise Finland https://oma.yrityssuomi.fi/en# to access various services. Log in to the site with your online banking credentials.
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If you’re interested in founding a startup, this Startup Kit by Business Finland will be useful for you. Check out also NewCo Helsinki and Startup Space Helsinki who offer support and services both for startups and established entrepreneurs in Helsinki.
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