COREDO > Company Formation in Finland

Company Formation in Finland

Why Register a Company in Finland

Finland is one of the most stable and technologically advanced jurisdictions in Northern Europe, offering a transparent legal system and a high level of business trust. The country provides access to the EU market, advanced digital infrastructure, low corruption levels, and a competitive corporate tax rate of 20%.

Finland is especially attractive for companies operating in IT, telecom, energy, biotech, and innovative technology sectors.

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Cost of the service
6 450 EUR + VAT

Types of Companies in Finland

Finnish legislation offers entrepreneurs several legal forms for conducting business.

Oy (osakeyhtiö) — private limited company.

The most popular form among foreign investors. It can be established by a single shareholder — either an individual or a legal entity. Since 1 July 2019, there is no minimum share capital requirement — a company can be registered without contributing any share capital. Shareholder liability is limited to their contribution. Management is carried out by a board of directors (hallitus), and companies with capital exceeding EUR 80,000 are required to appoint a managing director (toimitusjohtaja).

Oyj (julkinen osakeyhtiö) — public limited company.

Suitable for large-scale projects involving public investment and the possibility of stock exchange listing. The minimum share capital is EUR 80,000. Appointment of a managing director and an auditor is mandatory.

Tmi (toiminimi) — sole proprietorship.

Suitable for small businesses and freelancers. Non-residents of Finland must obtain a work permit and a residence permit to register in this form. The entrepreneur bears full personal liability for business obligations.

Ay (avoin yhtiö) — general partnership.

Requires at least two partners with no minimum capital requirement. All partners bear unlimited joint liability for the partnership’s obligations.

Ky (kommandiittiyhtiö) — limited partnership.

Also requires at least two partners: the general partner bears unlimited liability, while the limited partner is liable only up to the amount of their contribution. There is no minimum capital requirement.

Osk (osuuskunta) — cooperative.

Registration requires at least three founders (individuals or legal entities). This form is commonly used by companies in the social sector and services.

Registration Requirements

To register a company with 100% foreign capital in Finland, non-residents must obtain authorisation from the Ministry of Trade and Industry. An alternative option is to include at least one citizen of a European Union member state among the founders. Additionally, at least one member of the board of directors (or among substitute members) must be a resident of the European Economic Area (EEA).

It is important to note that Finland has no general restrictions on foreign investment. However, the Ministry of Economic Affairs and Employment monitors acquisitions affecting national interests. Special licences are not required for most commercial activities, except in regulated sectors (financial services, healthcare, energy).

Company Registration Procedure

Company registration in Finland is carried out through the Finnish Patent and Registration Office (PRH — Patentti- ja rekisterihallitus). Documents can be submitted through the online system YTJ.fi (Business Information System), which significantly simplifies the process. The procedure includes the following steps: selecting a unique company name and verifying its availability through the PRH database, preparing incorporation documents (memorandum of association and articles of association), notarising the documents, submitting the application to PRH, and registration in the Trade Register (kaupparekisteri). After completing registration, a bank account must be opened and the company must be registered with the Finnish Tax Administration (Vero) to obtain a Business ID.

Required Documents

To register a company in Finland, the following documents must be prepared: memorandum of association (perustamissopimus) and articles of association (yhtiöjärjestys); copies of identity documents for all founders and board members (passport or ID card); confirmation of a registered office in Finland; minutes of the resolution on appointing board members and, if necessary, a managing director; for a public limited company (Oyj) — confirmation of payment of the minimum share capital of EUR 80,000.

All documents in foreign languages must be translated into Finnish or Swedish and notarised where required. The registration application is submitted using form Y1 (for legal entities) through the YTJ.fi system or directly to PRH. The state registration fee for entry in the Trade Register depends on the submission method — online submission through YTJ.fi is less expensive than paper submission.

Registration Timeline

With a complete set of documents, company registration in Finland can be completed within one business day when submitted through the online system YTJ.fi. Paper submission may take up to several business days. If additional permits, licences, or authorisation from the Ministry of Trade and Industry (for companies with 100% foreign capital) are required, the timeline may be extended.

Service Costs

The cost of COREDO’s company formation package in Finland is EUR 6,450 + VAT. The package includes: preparation of the Memorandum and Articles of Association, coordination and filing of the registration notification, tax authority registration, obtaining the registration number and certificate, and bank account opening assistance. A mandatory registered address in Finland costs EUR 6,850/year. Registration in the Trade Register takes 3–5 weeks, and tax registration takes 2.5–3 months.

Tax System

Finland offers a transparent and predictable tax system that is attractive for international business. The corporate income tax (CIT) rate is 20%. A reduction to 18% is planned from 2027, which will make Finland an even more competitive jurisdiction.

The standard value-added tax (VAT) rate is 25.5%. A reduced rate of 13.5% applies to food products, restaurant services, pharmaceuticals, passenger transport, and hotel services. A rate of 10% applies to newspapers and periodicals. A zero VAT rate applies to export operations, intra-EU supplies, and international transport.

Since 2026, the loss carry-forward period has been extended from 10 to 25 years, which significantly enhances tax planning flexibility and allows companies to manage their tax burden more effectively during growth periods. Businesses are exempt from property tax, which is a significant advantage compared to many European jurisdictions.

Finland has an extensive network of double taxation treaties with dozens of countries, ensuring optimal conditions for international operations and profit repatriation.

Opening a Bank Account

After registering a company in Finland, a corporate bank account must be opened. The Finnish banking system is one of the most reliable in Europe. Major banks — Nordea, OP Financial Group, Danske Bank — offer a full range of corporate services, including online banking, SEPA international payments, and multi-currency accounts. To open an account, incorporation documents, a resolution on appointing authorised signatories, and confirmation of registration in the Trade Register are required. COREDO specialists will help prepare the necessary documents and select the optimal bank based on the specifics of your business.

Our Experts

The COREDO team has been operating since 2016 and possesses deep expertise in company registration across various European jurisdictions. Our specialists provide full support — from preliminary consultation to completing registration and tax registration.

Nikita Veremeev

Founder & NED of COREDO. Founded the company in 2016 and personally oversees the strategic development of the business across dozens of jurisdictions.

Pavel Kos

Head of Legal. Has been with the COREDO team since June 2017, responsible for legal support of corporate projects and company registration.

Basang Ungunov

Lawyer. Has been with the COREDO team since June 2022, specialising in legal support for company registration and structuring across various jurisdictions.

Frequently Asked Questions

Can a foreigner register a company in Finland?

Yes, foreign citizens can register a company in Finland. For an Oy (private limited company), at least one board member or substitute member must be an EEA resident. For companies with 100% foreign capital, authorisation from the Ministry of Trade and Industry is required.

What is the minimum share capital for an Oy in Finland?

Since 1 July 2019, there is no minimum share capital requirement for a private limited company (Oy) in Finland. A company can be registered without contributing any share capital. For a public limited company (Oyj), the minimum capital is EUR 80,000.

How long does company registration in Finland take?

With a complete set of documents, registration can be completed within one business day. The process is carried out through PRH (Finnish Patent and Registration Office).

What is the corporate tax rate in Finland?

The corporate income tax rate is 20%. A reduction to 18% is planned from 2027.

What are the advantages of registering a company in Finland?

Finland offers access to the EU single market, transparent legislation, zero minimum share capital for Oy, low levels of corruption, advanced digital infrastructure, no property tax for businesses, and a competitive corporate tax rate of 20% (with a planned reduction to 18% from 2027).

Is a registered office in Finland required for company registration?

Yes, a registered office (rekisteröity osoite) in Finland is required for company registration. The address is specified when submitting documents to PRH and is entered in the Trade Register. COREDO can assist with selecting a registered office for your company.

What are the reporting obligations of a Finnish company?

A Finnish company is required to maintain accounting records in accordance with Finnish legislation, submit annual financial statements to PRH, and file tax returns with the Finnish Tax Administration (Vero). Companies registered as VAT payers file VAT returns monthly or quarterly.

Contact Us

COREDO specialists provide full support for company registration in Finland — from document preparation and selection of the legal form to registration in the Trade Register, tax registration, and bank account opening. We have been operating since 2016 and help entrepreneurs successfully build businesses in Europe. The initial consultation is free — submit a request, and our specialists will contact you as soon as possible.