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Open Company in Finland, Finnish Company Registration

Opening a Company in Finland

Updated on Friday 05th June 2015

How easy is it to set up a business in Finland?

The process of registration of a new company takes around two working weeks but it consists in only three easy steps.

How easy is it to hire personnel in Finland?

The Finnish workforce is literate and has computer skills; actually around a third of Finland’s working population has a degree or higher qualification. The Finish labor force was divided this way in 2011: public services: 28.5%, finance, insurance, and business services: 13.3%, agriculture and forestry: 4.4% industry: 15.5% construction: 7.1%, commerce: 21.3%, transport and communications: 9.9%.

With an unemployment rate 6.9 per cent in October 2012, Finland is one of the most desirable places to work from Europe.

The foreigners are advised to contact the Employment and Economic Development Office in order to find a job in Finland. The following documents must be provided to the office: the ID (usually the passport), the residence permit, a proof that the requester has a Finnish identification number, certificates or diplomas translated into Finnish, Swedish, or English. The office is keeping a database with them and as soon as an opportunity comes, the candidate is announced.

The employers can contact the office in order to find suitable candidates for the job via telephone or through mail.

What are the main points of interest for foreign investors?

The Finnish economy is based mostly on services (65%), followed by manufacturing and refining (31%). Finland is also a highly industrialized country with the main products based on paper, electronics and metal products. Finland is also known for the wood products as it has 2/3 its surface covered with woods and it’s known to be one of the world's leading wood producers.

Besides the wood industry, Finland is also known for the high tech technology products.

The infrastructure is great and the shipments are mostly carried by sea (more than 90 % of the foreign trade).

The good location is offering access in Northern Europe, home to 80 million consumers to the Finnish entrepreneurs.

What are the advantages of a holding company in Finland?

The advantages of the holding companies in Finland are related to the extensive network of double tax treaties signed all over the years by it. These treaties are granting refunds or exemptions from paying corporate taxes and exemptions or minimizations of the withholding taxes on dividends and royalties.  The usual corporate tax is 24.5%, while the withholding taxes on dividends and royalties paid to nonresidents is also 24.5%.