Establishing a business

In the legislation of Finland there are no restrictions for the foreigners, wishing to organize in this country the enterprise. It is possible to found it in following organizational-legal forms: private business; partnership; the open joint-stock company with limited liability; the closed joint-stock company with limited liability; cooperative society.

To the Russian physical and legal persons, for realization of any commercial activity in the territory of Finland, it is necessary to receive the sanction of the Ministry of Trade and Industry. If you are going to open a firm, you should prepare the complete set of documents and present them to the National Board of Patents and Registration of Finland, having paid the corresponding duty. In the Internet-site of this bureau there are all necessary forms (the application on opening of the firm, reports of assembly of founders on the firm establishment, choosing the auditor and members of board.). The minimal authorized capital of the enterprise is made with 2,5 thousand euro and is brought lump sum on the bank account of the firm. The citizen of Russia can own 100 % of the enterprise actions, but in board, thus, should enter not less than 50 citizens of Finland or other EU countries.

Business and taxis in finland

The Finnish tax system is constructed on the strict reporting and, at the same time, on trust to the client. There is a strict punishment (heavy penalty) for out of time submitted report. The enterprise necessarily pays in the VAT from 8 % up to 22 % (depending on a sort of activity) and social taxes - less than 30 %. By the results of a fiscal year, the enterprise pays the tax from profit. For the majority of the enterprises it makes 26 %. To what idle time the system of the taxation in Finland seems, it is difficult to work without a professional bookkeeper, but only the large companies can have own accounting departments. All other enterprises use special accounting companies. Work of the bookkeeper is paid or for each executed posting, or in an hour - about 40 euro for one hour. In a year the enterprise can spend for accounting from 1 thousand euro. Auditor check is necessary for spending annually.

Business for citizens of eea countries

The European economic area (EEA) includes the following countries:

Austria, Belgium, Hungary, Germany, Greece, Cyprus, Latvia, Lithuania, Liechtenstein, Luxembourg, Slovakia, Slovenia, the Great Britain, Finland, France.

Citizens of these countries have the equal rights in the field of business with the Finnish physical and legal persons. They do not need the special sanction of the Ministry of Trade and the Industry (MTI). Everything, what is necessary for them - only to be registered, presented the notice under corresponding form in the National Board of Patents and Registration, which conducts the Trading register.

The small and average enterprisis

From the general number of the registered enterprises in the country, more than 90 % concerns to a category of small and average enterprises (SAE). “National industrial strategy of Finland”, developed by MTI, is the basic document in the field of SAE support. In the document it is especially emphasized, that the problem of financing is one of the most complex for the enterprises of small and average business, and that the opportunity of the facilitated access to financing can become the key factor in development of these enterprises.

Business development in finland

Total annual turnover of small and average enterprises is made 52 % from the general turn of all companies, and a share in manufacture of gross national product – 50 %. 50 % of all working people are borrowed on them, and about 60 % new workplaces are created annually with their help. The share of SAE in the Finnish export makes 17 % and grows faster rates, than at the large companies. The volume of investments into research and development at this category of enterprises makes 12 %. Small and average business plays the important role in a social and economic life in Finland.

Investment policy in finland

From the beginning of 1990th years in Finland the currency control was abrogated, so companies and enterprises can take out the capital from the country for realization of investment activity abroad. Today Finland actively participates in development of the international trade and economic and investment communications, in activity of world and European credit and financial institutes. There are successful investment funds, the companies and banks in the country: the European bank of reconstruction and development, the European investment bank and Northern investment bank. They are supported by the national governments of Northern countries (Finland, Sweden, Norway, Denmark and Iceland), and by the international financial organizations.

Geographically their activity covers all the world. The greatest interest is represented with the Baltics, Central and the East Europe, also Russia and some states CIS. The system of the state support of development of economy gives to investors, including foreign investors, the certain privileges for their enterprise activity, especially in the regions of the country demanding assistance to social and economic development. In particular, the sizes of given state grants can vary from 20 % to 45 % from cost of projects, depending on a prospective kind of enterprise activity and volume of investments, structure of participants and region of practical project realization. Thus the restrictions, concerning spheres and the sizes of foreign possession, except for the defensive industry and especially important enterprises, are cancelled.