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How to Start a Business in Finland as a Foreigner

 

Starting a Business in Finland: A Guide for Foreign Entrepreneurs

Finland is recognized as a stable, business-friendly country with a transparent regulatory environment and a highly educated workforce. Foreign entrepreneurs are increasingly drawn to its strategic location in the European Union, its proximity to key markets like Russia and the Nordic-Baltic region, and its advanced infrastructure.

Whether you’re a startup founder or an established business looking to expand, Finland offers excellent opportunities for success. However, navigating the process of starting a business in a new country can be complex.

This is where Scandicorp steps in. We offer expert corporate services for foreign entrepreneurs, guiding you from company formation to legal and tax compliance.

Legal Steps to Starting a Business in Finland

What are the Basic Legal Requirements?

  • Minimum one director; if fewer than three, a substitute is needed.
  • At least one director must reside in the EEA.
  • Registered office in Finland is mandatory.
  • No minimum share capital required for Oy (private limited company).

Scandicorp helps ensure your company meets all Finnish regulations and handles the required documentation and filings.

Required Documents for Company Registration

  • Memorandum of Association
  • Articles of Association
  • Founding meeting minutes
  • Registration form and proof of share capital (if applicable)

Scandicorp manages the entire documentation process for full legal compliance.

Can a Foreigner Own 100% of a Business in Finland?

Yes. Foreigners can fully own a business, but at least one director or MD must be EEA-resident. Scandicorp offers local directors and registered office services.

Visas and Residency Permits for Entrepreneurs

Entrepreneur Residence Permit

  • Own a share of the business
  • Prove financial viability
  • Submit a business plan

Golden Visa Option

For those making significant investments in Finland. Scandicorp assists with all visa applications and documentation.

Company Registration Process

  • Submit registration form to the Trade Register
  • Open Finnish bank account and deposit share capital (if applicable)
  • Submit documents and pay registration fee

Typical processing time: 2–3 weeks. Scandicorp manages the full registration process.

Understanding Finland’s Business Environment

Finland ranks high in global business rankings due to its innovation, infrastructure, and skilled workforce. Key industries: cleantech, ICT, and gaming.

Scandicorp connects you with local networks and helps you access government incentives and growth resources.

Navigating Tax Obligations

  • Corporate tax rate: 20%
  • VAT: Standard rate 24%
  • Annual tax returns and financial statements are required

Scandicorp helps with tax planning, VAT registration, and ongoing compliance.

Industry-Specific Regulations

Regulated sectors include finance, healthcare, and pharmaceuticals. Scandicorp identifies licensing requirements and manages applications.

Why Choose Scandicorp?

  • Company formation and legal compliance
  • Registered office and director services
  • Tax planning and accounting
  • Access to local partnerships and incentives

Contact Scandicorp today for a personalized consultation, and get started on your journey to business success in Finland.