Setting up a Business in Finland

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Legal Forms of Companies

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
The Sole Proprietorship (Toiminimi)
No minimum capital
1 partner
EUR 65
Decided by the founders, no minimum capital. Participation shares must be of equal value.
Minimum 3 founders
EUR 330
General partnership (Avoin yhtiö, Ay)
No minimum capital
Minimum 2 partners
General Partner is personally liable and without limitation for the company's debts and obligations.
EUR 155
Limited partnership (Kommandiittiyhtiö, Ky)
No minimum capital. The silent partner must make a capital investment in the partnership.
Minimum 2 partners + 1 silent partner
At least 1 of the members is liable for the debts and obligations of the company.
EUR 155
Private limited company (Osakeyhtiö, Oy)
2,500 €
Minimum 1 person
Liability is limited to the amount contributed.
EUR 330
Public limited company (Julkinen osakeyhtiö, Oyj)
Minimum 1 person
Liability is limited to the amount contributed.
EUR 330

Business Setup Procedures

Administrative Formalities
When drawing up status, a prior checking is required to confirm that the company's corporate name is available. The founders prepare the articles of incorporation which must be dated, signed and should contain a status proposition for the company. As far as the registration is concerned, a request, made in 2 copies, in Finnish or Swedish, must be sent to the Trade Register, within the 6 months following the signature of the status. A bank certificate should be included, stipulating that the capital mentioned in the status, has been deposited in a bank account. The company is issued its legal entity after registration. The NBPR provides detailed information on setting up a business in Finland.
The Competent Organization
National Board of Patents and Registration of Finland (NBPR)
Time Necessary for Registration
1-2 weeks. Click here for more information.

Recovery Procedures

Business reorganization (corporate restructuring) is a legal procedure with the purpose of rehabilitating companies that have fallen into financial difficulties. Normally, business reorganization is an alternative to bankruptcy. The aim of business reorganization proceedings is to arrive at a better outcome than bankruptcy from the point of view of both the business’ creditors and its owners.
Minimum Debt-to-Capital Ratio Triggering Liquidation
Not defined
Bankruptcy Laws
The Bankruptcy act.
Reorganization and Rehabilitation Laws
Finnish law relating to the supervision of bankrupt estates is codified in the Act on the Supervision of the Administration of Bankrupt Estates. See more information on the Office of Bankruptcy Ombudsman website.

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