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Service
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Cost (EUR)
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Total cost of incorporation of a company with one shareholder and the standard articles of association
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5 500
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Opening an account with a local bank
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3 500
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Providing of a legal address for 1 year
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3 500
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Total:
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from 12 500
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Incorporation of a Limited Liability Company in Finland includes the following steps:
1) Selecting:
• Company name to be checked for its availability (at least three names):
• Company structure (director, shareholder, beneficial owner, attorney);
• Share capital and distribution of shares between members (by default, the company will be incorporated with 2 500 shares of EUR 1 each)
• Activity and geography of business.
2) Payment fees for services.
3) Providing documents for directors / shareholders / beneficial owners / attorneys. The list of required documents is supplied separately.
4) Preparing a package of documents for company incorporation, having the documents signed by the directors and members. Sending the necessary set of documents to Finland.
5) Filing an application for company incorporation to the Trade Register. Once the registration form has been filed, the National Board of Patents and Registration will grant a business ID for the company as well as the Articles of Association certified by the National Board.
6) Opening bank account and arranging payment of the share capital.
7) Proving share capital payment confirmation to local tax department for stamping.
A director must be a physical person who can be a resident of the EEA or not. At least one of the Ordinary Members of Board of Directors has to be resident within the EEA, unless the registration authority (Finnish Patent and Registration Office) grants an exemption. If the Board consists of less than three Ordinary Members, the Board should also have at least one Deputy Member.
For limited liability companies with a minimum share capital of EUR 80 000 Managing Director should be appointed.
The company can have one or more shareholders. A shareholder may be a physical or legal person who can be a resident or a non-resident of the EEA.
A Finnish company must keep accounting records. Financial statements shall be signed by a director and accountant and filed with the tax authority annually.
A limited liability company that meets more than one of the following conditions in both the closing accounting period and in the accounting period preceding, must appointment an auditor:
The income tax rate in Finland is 20% which can be considered as an average index throughout the EU.
One Ordinary (annual) General Meeting must be held in each accounting period, unless otherwise stipulated in the Articles of Association.
VAT rate in Finland is 24%. Some categories of taxpayers get exemptions:
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Service
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Cost (EUR)
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Total cost of incorporation with one shareholder and the standard articles of association
Includes: - Remote company registration; - Payment of government fees required for company registration; - Preparation of corporate founding documents; - Registration of the company with the tax authorities; - Getting a VAT number; Does not include: - translation, notarization and apostille of documents; - registered office; - account opening servicesж - Сompliance fee. |
5 500
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Services of nominee director (resident of Finland / EU)
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1 500 per month
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Providing of a registered office for 1 year
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3 500
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Searching for office space:
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- GSL services of searching for office space, agreeing the terms of and arranging the signing of the office rent agreement are charged on an hourly basis, with a report on the work done
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300 / hour
Minimum deposit – 800 |
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- GSL agency fee, if the rent agreement is signed (payable once)
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10% of annual sum
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The local realtor’s fee, if any, is paid additionally as invoiced by the realtor
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the fees of local realtors can equal a monthly or two monthly rents
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Monthly rent (a deposit is payable to the landlord for two months in advance)
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from 250 / month
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Account opening assistance with a local bank
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3 500
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Company seal (if required)
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350
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Courier services
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250
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Accounting services
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starting from 280 EUR per month
Accounting services are charged on the basis of up to 25 transactions per month |
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Compliance fee
Paid in case of: - incorporation of a company, - company’s renewal, - company’s liquidation, - transfer to another agent, - issue of a power of attorney for a new attorney, - change of director / shareholder / beneficiary, except for a change to a nominee director / shareholder, - signing of documents. |
350 (standard fee – includes check of 1 individual),
+ 150 for each additional individual (director, shareholder or beneficiary) or legal entity (director or shareholder) if legal entity is serviced by GSL, + 200 for each additional legal entity (director or shareholder) if legal entity is not serviced by GSL, 450 (check for High Risk companies, including check of 1 individual), 100 (signing of documents). |
*The fees are valid as of the date of sending of this offer.