Setting up a Business in Finland
Legal Forms of Companies
|Types of Companies and Capital (Max/Min)||Number of Partners/Shareholders and Liability||Registration Fees|
| The Sole Proprietorship (Toiminimi)
|| 1 partner
|| Minimum 3 founders
| General partnership (Avoin yhtiö, Ay)
|| Minimum 2 partners
| Limited partnership (Kommandiittiyhtiö, Ky)
|| Minimum 2 partners + 1 silent partner
| Private limited company (Osakeyhtiö, Oy)
|| Minimum 1 person
| Public limited company (Julkinen osakeyhtiö, Oyj)
|| Minimum 1 person
- Enterprises Federation
The Federation of Finnish Enterprises
The Confederation of Finnish Industries
- Search a Company or a Financial Report
NBPR, National Board of Patents and Registration of Finland
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.
- 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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