Starting a Business - Finland

The minimum share capital requirement for a private limited company (Oy) was abolished in July 2019, so an Oy can be founded with no share capital.

There is no general restriction on foreign ownership of the main Finnish legal entities; foreign persons or companies may hold all shares in a Finnish limited liability company.

At least one board member must permanently reside in the EEA; if none do, a PRH permit is needed for non-EEA-resident board members or managing directors. The test is permanent residence, not citizenship.

Permits are granted to persons living in Lugano Convention countries (in practice Switzerland) and to US citizens resident in the United States under the Finland–US Treaty of Friendship, Commerce and Consular Rights.

The start-up notification is filed online at ytj.fi and registers the company simultaneously with the PRH Trade Register and the Tax Administration's VAT, prepayment and employer registers; online filing is mandatory for limited companies from 1 January 2026.

PRH's start-up notification fee for a limited company filed online via ytj.fi is €400 (€370 if the filer has no Finnish personal identity code). A Business ID is typically issued within about two working days, with full registration commonly completing within a few weeks when documents are correct.