How to start a business in Finland as a foreigner (2026)
Starting a business in Finland as a foreigner: easy.
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).
Legal framework
Finnish 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.
Key points: starting a business in Finland
Foreign ownership: 100% permitted
No minimum share capital for Oy
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.
Mandatory online filing via YTJ from 2026
Typical timeline and fees
EEA board-residency rule
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 founders need a residence permit
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 of decisions
- Law · officialOnline filing with the Trade Register becomes mandatory
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)
- Law · officialEU adopts Digitalisation Directive II (Directive (EU) 2025/25)
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)
- Law · officialNew Trade Register Act (564/2023) enters into force
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)
- Law · officialTrade Register data made largely free of charge
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)
- Law · officialEU Digitalisation Directive (2019/1151) transposition deadline
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)
- LawMinimum share capital abolished for private limited companies
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)
- Law · officialLimited Liability Companies Act (624/2006) enters into force
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)
- Law · officialCompanies Act of 1978 (734/1978) takes effect
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)
Sources
- prh.fi/en/companiesandorganisations/yrityksen_perustaminen.html
- prh.fi/en/companiesandorganisations/trade-register-mandatory-online-filing.h
- prh.fi/en/presentation_and_duties/uutislistaus/announcements/2025/trade-regi
- vero.fi/en/detailed-guidance/guidance/47780/starting-up-business-in-finland3/
- vero.fi/en/businesses-and-corporations/business-operations/setting-up-a-busin
- suomi.fi/company/starting-a-business/foreign-entrepreneurs/guide/licenses-and-
- migri.fi/en/entrepreneur
- infofinland.fi/en/moving-to-finland/non-eu-citizens/entrepreneur-in-finland
- twobirds.com/-/media/pdfs/in-focus/international-expansion/corp_settingupbusiness_
- leinonen.eu/fin/news/finland-business-entities/
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Next topicOrientation, not legal advice: verify against the primary sources linked above. Last verified 6 Sept 2026. Methodology & how to cite · State of Technology Regulation 2026