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Incorporation of a Limited Liability Company in Finland (OY). Service offer

Main advantages of doing business in Finland. Budget for the creation of business in Finland. Time frame for setting up business in Finland. Company incorporation. Structure. Subsequent administration of the company.

Main advantages of doing business in Finland

Very prestigious and reliable European jurisdiction;

Stable banking system;

Quick company incorporation;

Large network of international double taxation treaties;

Enables to create a structure where the country of incorporation, residence of the director and country of the bank account coincide (requirement of most banks and counterparties).

Budget for the creation of business in Finland:

Cost (EUR)
Total cost of incorporation of a company with one shareholder and the standard articles of association
5 500
Opening an account with a local bank
from 2 600
Providing of a legal address for 1 year
3 500
from 11 600

Time frame for setting up business in Finland

Company incorporation – 3-4 weeks;

Bank account opening – 2-3 weeks (depending on the bank).

Company incorporation

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):

  • The company name must identify the business and be distinct from the business names already in the register;
  • it must end with an indication of the form of incorporation: in the case of a limited liability company, it is OY (Osakeyhtiö);
  • characters of the Latin alphabet may be used;
  • it must not contain the following: last name of the other person or professional name or name of the listed piece of art;

• 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.

The total average period required to incorporate a company in Finland is 3 - 4 weeks.



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.

Subsequent administration of the company

Financial statement and Audit

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:

  1. the balance sheet total exceeds EUR 100 000;
  2. net sales or corresponding earning exceed EUR 200 000; or
  3. there are more than three employees on average.

Income tax

The income tax rate in Finland is 20% which can be considered as an average index throughout the EU.

Annual General Meeting

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:

  • A rate of 14% applies to companies engaged in the production of food and feed for animals; provision of restaurant services and catering;
  • 10% rate is applicable to such spheres as trade in books, entrance tickets to cultural and mass events, and medicine.


Cost (EUR)
Total cost of incorporation with one shareholder and the standard articles of association
- 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
Services of nominee director (resident of Finland / EU)
1 500 per month
Providing of a registered office for 1 year
3 500

Searching for office space:

- 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
200 / hour
Minimum deposit – 800
- GSL agency fee, if the rent agreement is signed (payable once)
10% of annual sum
The local realtor’s fee, if any, is paid additionally as invoiced by the realtor
the fees of local realtors can equal a monthly or two monthly rents
Monthly rent (a deposit is payable to the landlord for two months in advance)
from 250 / month
Account opening assistance with a local bank
From 2 600
Company seal (if required)
Courier services
Accounting services
starting from 280 EUR per month
Accounting services are charged on the basis of up to 25 transactions per month
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.

Are you interested in the offer?
11600 EUR
Download offer in PDF
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