Starting business in Finland for foreigners

Learn how to establish a business, forms of entrepreneurship, business plan guidelines and registering processes for foreigners in Finland.
businessman in vector shape

How to open a company

Private entrepreneurship (Tmi)

Private entrepreneurship is good option for immigrant wishing to start business in Finland. There are a few advantages, such as, low cost for business registration 75 EUR, no need for minimum capital, one person is responsible for decision making. Main disadvantage is full responsibility of business owner who has pay all company's debts using personal assets in case business goes bankrupt.

Limited Liability Company (Oy)

Limited Liability Company is usually consists of a few individuals (shareholders). A company has to to have an initial capital which is deposited to bank. LLC registration cost is 330 EUR. Moreover, there has to be a Finnish resident in the company's management board according to the law.
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.

Business plan

Business description

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

Competences

You need to you show your expertise, competencies and previous work experience.

Products or services

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

Potential customers

You need to define who will be your potential customers in Finland, on which basis will they make a decision to use your product or service and what properties do the customers value in your products.

Marketing

Then you need to explain how you are going to promote your goods to ensure that you will reach your customers and convince them of the benefits of your product.

SWOT analysis

Create this analysis to show the Strengths, Weaknesses, Opportunities and Threats of your business idea.

Operational plan

You need to make calculations of your company to ensure profitability of the business.

Registering a company in Finland

01
Apply for a personal consultation with our business advisor to check your business idea.

Consultation

02
Draw up a business plan following our guidelines. Moreover, Finconsult can check whether your business plan meets the requirements and suggest necessary adjustments.

Create a business plan

03
Choose a form of enterprise to carry out business operations in Finland. Our business advisors can help to find the most suitable form of enterprise for you.

Choose a company trade form

04
Prepare the document package needed for Finnish Trade Register and Tax Office. Sign up for consultation to know what documents have to be provided in your case.

Prepare documents

05
You need to have a place to run your company depending your business activities.

Find business premisses

06
Entrepreneur must take YEL insurance or employees' pension insurance.

YEL and other insurances

Contact us

Contact us if you have any questions regarding starting a new company in Finland.

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