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Setting up a Company


Establishing a business in Finland is quick and easy. There are many ways to start a company. The most common forms of organization are a limited company, a general partnership and a limited partnership. A foreign organization or foundation may also establish a branch in Finland for business.

You can find further information on public authorities, trade regulations, and employment issues at The Enterprise Finland online service www.enterprisefinland.fi.


Setting up a Limited Company Foreigner as founder of a limited company

A limited company may be established by one or more natural or legal persons (founders). At least one of the founders shall be permanently resident or, if the founder is a legal person, have its domicile in the European Economic Area unless the National Board of Patents and Registration grants an exemption from this rule. The nationality of the founder is thus irrelevant. A legal person shall have its domicile in the European Economic Area when it has been established in accordance with the laws of a State belonging the European Economic Area and when its registered office, central administration or head office is in a State belonging to the European Economic Area. A person who is legally incompetent or declared bankrupt may not act as founder.

Private and public companies

The limited companies are divided into private and public companies.

Share capital

A private limited company shall have a minimum share capital of 2,500 euros and a public limited company, 80,000 euros.

Permission of the National Board of Patents and Registration to act as founder

If a permit is required, the application, free in form, is be submitted to the National Board of Patents and Registrations either in Finnish or in Swedish.

Application fee

An application fee (100 euros) shall be paid for each decided permit. If permits are applied for three founders of a limited-liability company, three fees shall be charged (total of 300 euros). The fee shall be charged after the decision to grant or to deny the permit has been made.

Establishment of a limited company

The stages of establishment of a limited company are the following:
  • drafting of the Memorandum of Association
  • drafting of the Articles of Association (to be included in the Memorandum of Association)
  • subscription of the shares
  • Constituent Meeting of the Shareholders (if not incorporated without a Meeting of Incorporation)
  • adoption of the Articles of Association
  • election of the Managing Director and the chairman of the Board of Directors (if elected)
  • payment of the share capital
  • registration of the limited company.

Trade name of a limited company

The trade name of a private limited company shall include the words "osakeyhtiö" (limited company) or the corresponding abbreviation "oy" and the trade name of a public limited company shall include the words "julkinen osakeyhtiö" (public limited company) or the corresponding abbreviation "oyj".

Handling fee

The notification fee of a limited company is 330 €. The registration of a auxiliary trade name is 60 €/name.


Setting up a Branch of a Foreign Organization

A branch refers to a part of a foreign organization or foundation that conducts continuous business or professional activities in Finland from a permanent place of business in Finland in the name and on behalf of the foreign organization or foundation. The trade name of a branch of a foreign entrepreneur established in Finland shall contain the trade name of the foreign entrepreneur with a supplement, which indicates that it is a branch - e.g. CDE Cargo Ltd., branch of Finland. A trade name may be registered in two or several languages if the expressions in the different languages correspond to each other in their contents.

Handling fee

The notification fee of a branch of a foreign organization is 330 €.

Trade permit to the National Board of Patents and Registration

A foreign organization or foundation having its registered office outside the EEA, which shall establish a branch in Finland, shall apply for a permission to establish the branch from the National Board of Patents and Registration.

Application fee

The performance fee for the trade permit for a branch of a foreign organization is 100 €. The decision is sent to the applicant or his representative C.O.D (cash on delivery).

Acquisition of a business

You do not need to found a business yourself; you can also acquire an enterprise or its business operations, or become a partner in an existing enterprise. The object of acquisition may be, for example, a private undertaking, shares in a general or limited partnership, the entire stock of a limited liability company or a majority of the shares. You can become a member of an existing cooperative by paying the participation share.

Finnish law does not impose any restrictions on foreign ownership; foreigners may also acquire Finnish enterprises. More information on the right of non-EEA residents to found an enterprise or be involved in the administration of a Finnish enterprise can be found on the section “Permits from the National Board of Patents and Registration for non-EEA residents”.
A large number of transfers of businesses to younger generations are expected in Finland in the next few years. According to different estimates, between 60,000 and 80,000 enterprises are going to change hands in the next few years. If no new owner can be found within the family, an alternative is to sell the business to a third party.

Visas and work and residence permits Applying for a visa to the Schengen area and application form

Foreign nationals who need an entry visa are requested to apply it at the nearest Finnish mission. In countries where Finland does not have a mission, another Schengen country can represent Finland in visa matters. The Schengen member states Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, and Sweden have jointly agreed about the rules concerning the movement of third-country nationals in their territories and decided which countries' citizens are required to present a visa.

Residence permits For Citizens of EU and EEA countries

Citizens of the Nordic countries (Sweden, Norway, Denmark and Iceland) may freely enter Finland and reside in the country without a residence permit. They can also take up paid employment without a residence permit for an employed person. EU citizens and citizens of Iceland, Liechtenstein, Norway and Switzerland have the right to enter, reside, study, seek work, or practice a profession in Finland for three months without a residence permit. If the stay lasts longer than that, they must register their right to reside in Finland at a police department.

Residence permits for citizens of non-EU/EEA countries

Citizens from non-EU/EEA countries should apply for a residence permit first. Everyone applying for a residence permit must fill in a separate form. This applies to all children too. The application is subject to a fee, which will be charged for children too, even if they are entered in the passport or other travel document of a parent or guardian. The application form for a residence permit (OLE 1) and a list of the required attachments is available from diplomatic missions or it can be printed out from the Finnish Immigration Service’s website at www.migri.fi.( The Finnish Immigration Service). In order for a residence permit to be granted, the applicant must have a valid passport or other travel document.

In Finland, the residence permit sticker with photo is in Finnish or Swedish, depending on which language the applicant chooses on the application form. There is no provision for residence permit stickers in English, since EU legislation requires that national languages be used in each EU Member State.

Work permit

Employment of a foreign national in Finland requires a residence permit which is applied for before arriving in Finland from a Finnish mission abroad. Private entrepreneurship or the exercise of a profession in Finland requires a separate residence permit intended for entrepreneurs.

Residence permits for employees or entrepreneurs are not required for citizens of EU-member states or citizens of Iceland, Liechtenstein, Norway and Switzerland.

For EU- and EEA-citizens

EU citizens and citizens of Iceland, Liechtenstein, Norway and Switzerland can freely work in Finland if the work lasts for a maximum of three months. After that, they must register their right to reside in Finland, but they do not need a special residence permit.

For Non- EU-AND EEA-citizens

Foreign employees who are non-EU citizens and equivalent persons need a residence permit for an employed person if they intend to work in Finland. An alien who has entered the country either with a visa or visa-free is not allowed to engage in remunerated employment in Finland but, rather, has to apply for a residence permit. A residence permit can be granted on the basis of either temporary work or work of a continuous nature.

In granting the permit, the needs of the labour market are taken into consideration. The aim of the residence permit praxis is to support the possibility of those who are on the employment market to gain employment. Thus, the availability of work force is also supported. Granting a residence permit for an employed person requires that the alien's means of support be guaranteed. The employment office will estimate both the labour political requirements and the sufficiency of the means of support.

Further information: www.enterprisefinland.fi