Starting a business in Finland

It is possible to carry on business in Finland as a sole trader (yksityinen elinkeinoharjoittaja), as a general partnership (avoin yhtiö) or limited partnership (kommandiittiyhtiö) or via a limited liability company. Registration in the Trade Register is a condition for starting the business in general and limited partnerships.

In order to incorporate a limited liability company one has to prepare a written memorandum of association and articles of association [Articles of Association]⁠ as well as subscribe the shares by signing the memorandum of association. It is currently possible to incorporate a private limited liability company completely without share capital or by crediting the subscription price of the shares entirely in the reserve for unrestricted equity. However, incorporation of a publicly listed company (public company) requires a payment of at least 80.000 euros of share capital to the company’s bank account. The subscription can also be paid in other assets than cash, so-called contribution in kind [Share Issue]⁠, subject to a specific provision thereof contained in the memorandum of association. The company shall be notified for registration within three months of the signing of the memorandum of association. The company shall be legally established only upon registration.

General information about establishing an enterprise is found on the website of Enterprise Finland (”YritysSuomi”). The basics of founding a company are also explained on the website of the Federation of Finnish Enterprises (“Suomen Yrittäjät”). Start-up notification forms for a limited liability company and notification forms for changes or termination of business can be found free of charge via the Finnish Business Information System (“BIS” -service) or via the NBPR website.