| LLC | Free Zone Company | PLC | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | Oy | Free Zone Oy | Oyj | Sivuliike | Edustusto |
| Company Setup Time | 15 days | 30 days | 20 days | 15 days | 15 days |
| Bank Account Opening | 10 days | 10 days | 10 days | 10 days | 10 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Limited Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Finnish LLC (Oy)
- The requirements for setting up an LLC are one shareholder and two directors. One of the directors should be an EEA resident, except in cases where a permit is given. The minimum share capital requirement for this business entity is €2,500. The company name must include gosakeyhtiöh/goyh. An LLC must be audited if it falls in two of the following three criteria. Over €200,000 in annual turnover. Over €100,000 in assets. More than 3 employees.
Finnish Public Limited Company (Oyj)
- A public limited company requires one shareholder, three directors, more than 50% of the directors must be residents of EEA, except where a permit is given. The minimum amount of share capital requirement is €80,000. The company name must include osakeyhtiö/Oyj.
Finnish Branch Office (Sivuliike)
- Foreign business entities are allowed to open a 100% foreign-owned branch office. The parent company is liable for the actions of the branch office. The representative of a branch office for a non-EEA parent company should be a Finnish resident. In the case of an EEA parent company, the representative should be an EEA resident. If the parent company is from outside the EEA, this business entity must have prior approval from the Finnish authorities.
Finnish Representative Office (Edustusto)
- The representative office in Finland cannot carry out any direct revenue-generating activities. These entities are not considered as a separate entity from its parent company. However, they are permitted to conduct market research and promotional activities for the parent company.