Company Formation in Finland for Foreigners: Set Up a Finnish Oy

A foreigner can set up a Finnish limited company (Oy) with no minimum share capital, so 0 euros is enough to register. You file the founding notification online through the Finnish Trade Register (PRH) at ytj.fi, and at least one ordinary board member or one deputy member must reside in the EEA. If nobody on the board does, the only route is an exemption from PRH, and PRH does not grant one in every case. We do not take a board seat and we do not act as the company's representative, so that person has to come from your side.

You set up a Finnish limited company (Oy) by filing a founding notification with the Finnish Trade Register, kept by the Finnish Patent and Registration Office (PRH), through the online service at ytj.fi. From 1 January 2026 paper forms are no longer accepted, so the whole registration is digital. The notification covers the memorandum of association, the articles of association, the share capital (which can be 0 euros) and the people in charge: shareholders, the board and any managing director.

There is no minimum share capital for a Finnish Oy. You can found the company with 0 euros, and PRH simply records the share capital as 0 in the register. At the same time as registration you normally apply to the relevant tax registers: the prepayment register, the employer register if you will pay wages, and the VAT register if your turnover or activity requires it.

We handle this whole process for foreign founders. You give us the company name options, the business activity, the owners and the board, and we prepare the documents and the PRH filing, then set up your bookkeeping so the company is operational from day one.

At least one ordinary member of the board of a Finnish Oy, or one deputy board member, must reside in the European Economic Area (EEA), unless PRH grants the company an exemption (Limited Liability Companies Act 624/2006, chapter 6, section 10, subsection 2). The same rule applies to the managing director if the company appoints one. This is the single point that catches most non-EEA founders, and it is a precondition for registration, not something you can buy later. Appointing a Finland-resident representative is not a second option here: that requirement comes from the Business Activities Act (565/2023, section 6) and applies to a branch of a non-EEA company, not to an Oy that already has an EEA-resident person entitled to sign for it.

You do not need to move to Finland or hold a Finnish personal identity code to own the company. The residency rule is about the board and the representative, not about every shareholder. Ownership can sit entirely with foreign individuals or a foreign parent company.

We do not sit on our clients' boards and we do not act as the company's representative, at any price, so this is the one part we cannot solve for you. What we do is tell you before you pay anything whether your setup is registrable as it stands, prepare the founding documents and the registrations, and file them once the EEA-resident person is in place.

Filing at ytj.fi normally requires Finnish strong electronic identification (online banking codes or a mobile certificate). Foreign founders without a Finnish ID can still register, but the practical route depends on whether you have a Finnish personal identity code and access to electronic identification. We tell you up front which path applies to your situation so there are no surprises mid-filing.

Opening a Finnish business bank account is a separate step from PRH registration and is handled by the bank, not by the authorities. Banks run their own know your customer checks, which can take time for non-resident owners. We prepare the company documents the bank asks for and coordinate the bookkeeping side, but the account approval decision stays with the bank.

Bookkeeping for a Finnish limited company (Oy) or a sole trader (toiminimi) starts at 99 euros per month with us. The price is a fixed tier by voucher volume: 99 euros up to about 10 vouchers a month, 149 euros for 11-30 and 199 euros for 31-60. Pricing is fixed, with no per-voucher fees, so the price does not jump when your invoice volume grows. The figures are VAT 0, with Finnish VAT added on top of the firm's invoice.

The standard Finnish VAT rate is 25.5 percent in 2026. Most company income is subject to corporate income tax, and the company's tax return is due within 4 months of the end of its financial year. If you pay wages, each payment must be reported to the Incomes Register (tulorekisteri) within 5 calendar days of the payment date, which is one of the strictest deadlines a new employer meets.

We keep all of these deadlines on our side, file the VAT and tax returns, and report payroll to the Incomes Register so you stay compliant while you focus on the business.

The whole service runs in English and fully remotely across Finland. Tilitoimisto N.M is based in Nokia, Finland, and works with clients anywhere in the country, so you never have to visit an office or read a Finnish-only portal. You send documents digitally, and your accountant, Nita Mäkinen, handles bookkeeping, VAT, payroll and the annual accounts.

For a founder who is opening a company in Finland from abroad, the value is having one English-speaking point of contact who knows the PRH process, the EEA board rule and the Finnish tax calendar. We register the company, set up the books and run them month to month, so company formation and ongoing accounting are one continuous service rather than two disconnected problems.

Get a fixed quote in English

One English-speaking accountant handles your Finnish company from registration to monthly bookkeeping, VAT and payroll. Fixed monthly price, no per-voucher fees.