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Nordic EU member known for tech innovation and gaming
Region
WESTERN EUROPE
Corporate Tax
20%
Setup Time
1 weeks
Currency
EUR
Finland, the northernmost EU country, has emerged as a technology and innovation leader. The country's exceptional institutions and transparent company registration support business setup in a high-trust environment.
With a population of 5.5 million, Finland offers Nordic quality of life with unique character. Finnish and Swedish are official languages, with excellent English proficiency. Helsinki provides modern urban living with easy nature access.
Healthcare is excellent through the public system. Safety is outstanding with very low crime rates. The cost of living is high, particularly in Helsinki. The "sisu" cultural concept emphasizes resilience and determination.
The education system, known worldwide for excellence, attracts families seeking quality schooling.
Corporate tax rate stands at 20%, competitive for a Nordic country. Personal income tax reaches approximately 57% including municipal taxes at higher incomes. VAT applies at 25.5% standard rate.
Finland uses the Euro, providing single currency area access. The economy features strengths in technology, gaming, and forestry. The startup ecosystem has produced notable successes including gaming companies.
Company registration through the Patent and Registration Office (PRH) is digital and efficient. The Oy (osakeyhtiö, private limited company) is the standard vehicle. Foreign ownership faces no restrictions.
Company formation takes approximately 1-2 weeks. Minimum share capital is EUR 2,500 for Oy. At least one director resident in the EEA is typically required. Annual compliance includes financial statement filing.
The Financial Supervisory Authority registers virtual asset service providers under Finland's crypto-asset regulatory framework. Registration is required for exchanges and custodians.
The approach is regulated but functional, with established operators in the market. MiCA implementation will further harmonize requirements.
Gambling operates under state monopoly through Veikkaus. Private gambling license opportunities for external operators are essentially nonexistent. The monopoly model does not accommodate international operators.
High costs suit knowledge-intensive operations rather than cost-competitive activities. The winter climate and remote location require consideration. The small domestic market requires export or digital orientation.
Banking access is excellent through stable Nordic banks. Professional services are high quality. Finland's reputation for institutional quality supports credibility.
Finland suits technology companies, gaming studios, and businesses valuing Nordic reputation for their business setup.
Local: Oy
Local: Oyj
Local: Sivuliike
| Corporate Tax Rate | 20% |
| Personal Income Tax Rate | 55% |
| VAT / Sales Tax | 25.5% |
| Capital Gains Tax | 30% |
| Withholding Tax | 20% or 30% |
| Reduced Corporate Tax Available | No |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | HIGH |
| Financial Privacy | LOW |
| Currency Controls | NONE |
| Local Bank Account Required | No |
| Non-Resident Bank Account Allowed | Yes |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | Yes |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $125,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | EU Travel Rule (TFR) and MiCA compliant |
| Business Plan Required | Detailed business plan including programme of operations, financial projections, governance structure, IT security and AML/CTF policies required |
| Personnel Required | Fit and proper management, AML/Compliance Officer, adequate governance structure |
| Insurance Required | Yes |
| Insurance Details | Cold-wallet insurance and client-asset segregation required for custody services |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | FIN-FSA public register of authorized CASPs |
| Renewal Period | Ongoing supervision, no fixed renewal |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Finnish Financial Supervisory Authority (FIN-FSA) |
| Licensing Fee | $6,200 |
| Licensing Fee Details | €6,200 application fee to FIN-FSA, plus annual supervision fees based on scale of operations |
| Permitted Business Models | Exchange, Custody, Trading Platform, Broker, Transfer Services |
| Permitted Activities | Crypto-asset exchange, custody and administration, trading platform operation, reception and transmission of orders, portfolio management, advice |
| Restricted Activities | MiCA restrictions apply to stablecoin issuance (ART/EMT require separate authorization) |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | Yes |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Comprehensive business plan demonstrating responsible gambling measures, AML/KYC procedures, technical standards, and financial stability |
| Personnel Required | Reliable and suitable UBOs and management assessed during application |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Public register maintained by Finnish Supervisory Agency (from 2027) |
| Renewal Period | 5 years |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Finnish Supervisory Agency (from 2027, replacing National Police Board) |
| Licensing Fee | $29,000 |
| Licensing Fee Details | €29,000 application fee, €1,120 amendment fee, annual supervision fees based on GGR (€4,000 to €265,000) |
| Permitted Business Models | B2C online gambling operators (from 2027) |
| Permitted Activities | Fixed-odds betting, pari-mutuel betting, online casino games, online e-bingo, online slots |
| Restricted Activities | Lottery games, scratch cards, physical slot machines, and land-based casinos remain state monopoly (Veikkaus). Affiliate marketing prohibited. Influencer promotions prohibited. |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | Yes |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $350,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | EU compliant |
| Business Plan Required | Detailed programme of operations, business plan with financial projections, governance structure, safeguarding model, outsourcing arrangements, IT and security policies, AML/CTF procedures |
| Personnel Required | Fit and proper management, AML/Compliance Officer, adequate internal controls |
| Insurance Required | Yes |
| Insurance Details | Professional indemnity insurance required |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | FIN-FSA register and EBA central register |
| Renewal Period | Ongoing supervision, no fixed renewal |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Finnish Financial Supervisory Authority (FIN-FSA) |
| Licensing Fee | $6,200 |
| Licensing Fee Details | €6,200 authorization application fee for EMI/PI, €1,750 for registration (small PI). Annual supervision fees apply based on scale. |
| Permitted Business Models | Electronic Money Institution (EMI), Payment Institution (PI), Small EMI (up to €5M e-money), Small PI (under €3M monthly transactions) |
| Permitted Activities | E-money issuance, payment services, money transfers, payment initiation services, account information services |
| Restricted Activities | Banking services, deposit-taking, and lending require separate credit institution license |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |