Starting a Business · Finland
How to start a business in Finland as a foreigner (2026)
Finland shaded by its starting a business status
Starting a business in Finland as a foreigner: easy.
FrameworkFinnish Limited Liability Companies Act (624/2006) and Trade Register Act, administered by the Finnish Patent and Registration Office (PRH) and the Tax Administration jointly via the Business Information System (YTJ). From 1 January 2026, all company filings with the Trade Register must be made online.
Finland is a straightforward jurisdiction to start a business, with no restrictions on foreign ownership, no minimum share capital for the standard private limited company (Oy) since 2019, and fast electronic incorporation via the joint PRH/Tax Administration YTJ portal. As of 1 January 2026, notifications and applications to the Trade Register must be filed online, and typical processing runs 1-3 business days for electronic filings. Non-EEA founders face additional requirements (residence permit for entrepreneurs, EEA-resident board member or an exemption from PRH).
Key points
Finland places no general restrictions on foreign ownership of Finnish companies. A foreign investor can wholly own a Finnish limited liability company (Oy), subject only to sector-specific screening and standard AML/KYC rules.
The minimum share capital requirement for a private limited company (Oy) was abolished in Finland in 2019; founders may set any reasonable amount. A public limited company (Oyj) still requires €80,000.
From 1 January 2026, companies must file start-up notifications, changes, financial statements and applications online via ytj.fi; paper filings received on or after that date are not processed. Strong electronic identification is required.
Electronic start-up notifications for an Oy are typically processed by PRH in about 1-3 business days; paper (until end of 2025) took 2-3 weeks. The Trade Register start-up notification fee for an Oy is €280 online (€380 on paper).
At least one member of the board of directors (and the managing director, if any) of a Finnish Oy must be resident in the EEA. If this condition is not met, an exemption permit must be obtained from the PRH.
Non-EU/EEA nationals moving to Finland to run a business need a residence permit for an entrepreneur or start-up entrepreneur from Migri; the ELY Centre (Economic Development Centre) first assesses business viability and adequacy of income. Persons residing outside the EEA also need a PRH permit to operate as a private trader.
Timeline - major decisions & events
From 1 January 2026 limited liability companies, co-operatives and registered branches must file Trade Register notifications and applications electronically (via ytj.fi or online forms); the PRH no longer processes paper notifications, speeding up incorporation. Sole traders, associations and foundations are exempt.
PRH (Finnish Patent and Registration Office) ↗The Council adopted the directive 'upgrading company law for the digital era,' creating an EU Company Certificate, a Digital EU Power of Attorney and a 'once-only' principle to ease cross-border company and branch set-up; Finland must transpose it by 31 July 2027.
Council of the EU (Consilium) ↗A general reform of register law gave the PRH power to impose negligence fees for late filings and introduced phased obligations (annual data verification from 2027) and re-registration rights, tightening the duty to keep company data current. Parts apply only from 2026-2027.
Finlex (Ministry of Justice) ↗Amendments to the Trade Register Act and Business Information Act implementing the EU Digitalisation and anti-money-laundering directives took effect, requiring that most limited-liability-company register data, including officers and electronic extracts, be available free, lowering the cost of verifying and starting a business.
Finnish Government (valtioneuvosto.fi) ↗EU member states including Finland had to enable fully online formation of limited liability companies and online filing/branch registration without founders appearing in person, using e-identification, cementing Finland's digital-by-default incorporation route.
EUR-Lex (European Union) ↗Following Government Bill 238/2018, the EUR 2,500 minimum share capital for a private limited company (Oy) was removed, so founders no longer need to deposit capital or open a bank account before registration, affecting an estimated 85% of new companies. Public companies still require EUR 80,000.
Waselius (citing Govt Bill 238/2018) ↗Finland's current company-law framework replaced the 1978 Act, modernising and simplifying formation, companies come into being upon Trade Register registration, can be founded by one or more shareholders (including foreigners), and the rigid founder concept was dropped.
Ministry of Justice (oikeusministerio.fi) ↗Prepared through Nordic legislative collaboration, this comprehensive Companies Act entered into force on 1 January 1980 and provided the modern statutory basis for Finnish limited liability companies for nearly three decades until the 2006 reform.
Finlex (Ministry of Justice) ↗Finland - other topics
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