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Finland's types of Companies / Partnerships
A Private Limited Company (with the suffix OY)
- One person is sufficient to set up the company.
- A minimum registered share capital ,fully paid up, as defined by law is EUR 8,000. Management is in the hands of the company's management board. The liability is for the amount of the capital only.
- When the share capital is less than EUR 80,000 the board must have at least one member and one deputy member.
A Public Limited Company(with the suffix OYJ)
- A minimum of one natural or legal person is required to set up the company.
- The minimum registered share capital is EUR 80.000. Management is in the hands of the management board.
- When the share capital is above EUR 80.000 the board must have a minimum of 3 members. The company must also appoint a managing director.
- The shareholders' meeting may appoint a "supervisory committee which controls the management board. At least 50% of the management board must be resident of the EEA. The company's liability is for the amount of the capital only.
- A public company must publish semi-annual reports.
- The cost of company formation in Finland is about EUR 400.
A General Partnership -
All the partners are liable for the obligations of the partnership. The profits of the partnership are divided among all the partners according to their shares in the partnership, other than in instances in which the partnership agreement determines otherwise.
A minimum of 2 partners is needed.at least one of the partners must be a resident of the EEA.
A Limited Partnership -
A limited partnership must have at least 2 partners. at least one of them must be a general partner.
Branch -
foreign firms are allowed to establish a branch office in Finland
When the firm is not from the EEA, a permit from the board of patents and registration is needed.
Additional requirements for Finnish companies
Application to the National Board of Patents and Registration within 6 months from the foundation agreement. Including foundation agreement, Memorandum and Articles.
A bank notice confirming the full payment of the share capital has to be submitted too.
More info: National Board of Patents and Registration of Finland www.prh.fi
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