Start a company as a foreigner in Finland

Error get alias

Open company in Finland

Foreigner can open a company in Finland by registering it in the Trade Register of the Finnish Patent and Registration office with at least three members of the Board of Directors. In addition to the main foreign founder of the Finnish company, a Finnish (or European) resident must be involved in the Board of Directors team to get the entrepreneur's residence permit. An applicant applying for an entrepreneur's residence permit must have a business ID.

If the foreign person has planned to work as a private trader, then he must be a resident of an EEA region. The process of the entrepreneur's residence permit application involves two stages. First, assessment of the profitability of the company by ELY centre (centre for Economic Development, Transport, and the Environment). Then, The Finnish Immigration Service will grant its decision.

Private entrepreneurship

Individual entrepreneurship is a good option for immigrants wishing to start a business in Finland. There are several advantages, such as low business registration price of 75 euros, no need for minimum capital, one person is responsible for decision making. The main disadvantage is the full responsibility of the business owner, who has to pay all debts of the company from his personal funds in case of bankruptcy of the company.

Limited Liability Company

A limited liability company usually consists of several individuals (shareholders). The company must have an initial capital, which is deposited in a bank. The cost of registration of a limited liability company is 330 euros. In addition, according to the law, the board of the company must be a resident of Finland.

There are different business models available in Finland, such as, Private Entrepreneurship, Limited Liability Company, General Partnership, Limited Partnership, Public Limited Company or Corporation and Cooperative Association.

We recommend foreign businessmen to establish a company using either Private entrepreneur or LLC model.

Company forms in Finland

01

Make a detailed business plan that includes the business idea, competencies, products/services, customers, partners, and source of business funding.

Make a business plan

02

Choose the most suitable form of company for your business activity in Finland.

Choose the form of enterprise

03

Register your company with the Finnish Chamber of Commerce PRH and the three tax registries.

Register your business

04

The entrepreneur must take out YEL or employee pension insurance.

Make a YEL

Process of company registration in Finland

Operational plan

You need to do the calculations for your company to ensure that your business is profitable.

SWOT

Create this analysis to show the strengths, weaknesses, opportunities and threats to your business idea.

Describe business idea

First of all, you need to describe what, to whom, and how your business will sell. Then you need to describe why customers need it, how your business idea differs from your competitors.

Specify your experience

You must show your knowledge, competence and previous work experience.

Your services or goods

Then you need to describe what kind of product or service your company is going to offer in Finland. You must explain how your products differ from those of your competitors.

Your customers

You need to describe your potential customers in Finland, why they will use your product or service and what features of your products customers value.

How to make a business plan

Our specialists will help you to prepare all necessary documents for company registration.

They will also guide you through the whole process of registering a new company in Finland. Contact us if you have any questions.

Start a company

Need help with starting a company?

Social media