Do you have plans for doing business in Finland?

Tips for International companies entering the Finnish market.
 

Company registration

There are several registers that might be statutory for your company and should be investigated before you can start your operations in Finland:

  • Trade register
  • Prepayment tax register
  • VAT register
  • Employer register

If you are not sure what is needed, our specialist can help you.

Social security insurances

Remember the insurances, so called social costs,  that are statutory for all companies employing persons in Finland:

  • Pension insurance
  • Unemployment insurance
  • Group life insurance
  • Accident insurance

The cost for these are stipulated by the government, so they are the same no matter from which insurance company they are taken. Azets has established channels for taking these on our customers’ behalf.  The process is quick and, most importantly, in place from day 1.

Electronic filing

Katso Identification system (Suomi.fi later this year) is a secure sign-in service for electronic filing with the Finnish Tax Administration and the Social Insurance Institution Kela. The process of obtaining and using it is detailed and complicated as the government primarily works in Finnish and Swedish. The most convenient and efficient way of filing reports is to let Azets do it.

The most frequently asked questions 

What are the main differences between a limited company and a branch office?

Ltd company

  • accounting
  • VAT-filing
  • payroll tax filing
  • auditing
  • income tax filing
  • meetings/minutes (board and annualshareholders meeting)
  • minimum share capital 2.500 eur 

Branch office

  • accounting
  • VAT-filing
  • payroll tax filing
  • income tax filing

Do I need an auditor for my ltd company?

An auditor must be elected if two of these three points are valid:

  • turnover over 200.000 eur
  • total balance exceeds 100.000 eur
  • three or more employees

Did you know that in Finland, your accounting partner does not provide auditor-services due to legislative reasons?

What is my company’s VAT number?

In Finland, there is only the business ID which is also the VAT number. You can look up your company’s business ID and other public information here.

Can I use my local insurance company?

No, the statutory insurances have to be taken in Finland. Any additional insurance can be taken elsewhere, but remember to that these may be considered to be taxable benefits.

 

Contact us

 

Please contact us to discuss how we can help you getting smooth and reliable accounting, payroll and HR services for your business in Finland.

Tel. +358 10 756 4500

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