FinlandBest Business Opportunities in Finland and Types of Business in 2024

December 8, 2023by Tetra Consultants0
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  • There are range of business opportunities in Finland across various industries making it an attractive business destination for entrepreneur’s and investors. Moreover, the country tends to offer a strong and a stable economy providing a favourable economy for the business growth and development.  
  • The country also promotes the highly educated and talented workforce with one of the highest levels of digital talent in Europe by ensuring that a balance of competitive edge for better productivity, commitment, and results.  
  • Apart from the competitive edge, Finland also promotes innovation which makes it the biggest contributor to innovation per capita with a collaborative ecosystem of innovative companies, research institutions, and testbeds. Moreover, the country has also been rewarded as the with a collaborative ecosystem of innovative companies, research institutions, and testbeds. 
  • Thus, with the Finnish government support options for entrepreneurs, it has become much easier to register company in Finland. The support the government provides is to encourage innovation and development so that entrepreneurs do not miss any of the business opportunities in Finland.  
  • If you are willing to register the company in Finland, please do not worry Tetra Consultants experts can help you with that along with many other business services carved out for you. We can also help you choose from several types of business in Finland depending on your needs and business activity. Our experts are well-versed with knowledge of bylaws and can assist you with offshore company incorporation service through which we will provide you a fully operational business.  

Best business opportunities in 2024 

Food and food technology 

  • The food and food technology industry are one of the promising business opportunities in Finland because of the growing demand of sustainable and tech-driven solutions in the food industry which also aligns to the Finland’s commitment to environmental sustainability.  
  • The convergence of Finland’s technological expertise and the increasing demand for innovative and sustainable food solutions positions the food and technology industry as a highly promising opportunity for entrepreneurs and businesses in the country. 
  • Once you have made up your mind for this industry, Tetra Consultants can help you in filing for food establishment approval with the municipal food control authority and with the Finnish food authority. 

App development business 

  • Finland is renowned for its strong technological infrastructure and an elevated level of digitalization. This creates an ideal environment for app development businesses to thrive, with access to a skilled workforce and innovative technology. 
  • Operating in such business sector, Tetra Consultants can help you with nominee director and shareholder services as it is required for such companies to have at least one resident director (resident of the European Economic Area (EEA)), unless a permit is granted by the Finnish Patent and Registration Office.  
  • Moreover, we can also help you to register your business with the Finnish Patent and Registration Office (PRH) for your convenience.  

Tour agency business 

  • The breathtaking natural landscapes and stunning northern lights make Finland an appealing destination for travellers seeking unique and immersive experiences making a room for tour agency businesses in Finland.  
  • Furthermore, Finland has a rich cultural heritage and offers a wide range of activities, from outdoor adventures to cultural experiences, making it a versatile destination for a diverse range of tourists. 
  • Starting a tour agency business will require registration with the Finnish Transport and Communications Agency and the Finnish Competition and Consumer Authority which can be done easily with the assistance of Tetra Consultants.  
  • Moreover, our experts will also take care of the obtainment of various municipal licenses required by the company. Along with these Tetra Consultants can help you in obtainment of offshore financial licenses if you need them. 

E-commerce and online retail shops 

  • The high level of digital adaptation and internet penetration with a tech-savvy population that is comfortable with online shopping. This creates a robust customer base for ecommerce businesses making it one of the best business opportunities in Finland.  
  • You will get your company officially registered with the Finnish Patent and Registration Office (PRH). But don’t worry, with Tetra Consultants by your side, this process will be smooth and hassle-free! We will handle all the paperwork and details for you. 

Types of business in Finland 

Limited Liability company (LLC or Oy) 

  • It is a separate legal entity which are authorized by the Finnish Patent and Registration Office (PRH). There are various regulatory requirement to establish LLCs in Finland which are as follows: 
  • A minimum of 1 shareholder without any residency requirement. 
  • A minimum of 2 directors, in which one is required to be resident of the European Economic Area (EEA). 
  • A written Memorandum of Association, signed by all shareholders. 
  • The minimum share capital required to set up a Finnish LLC is €2,500. 

Public Limited Company (PLC or Oyj) 

  • A public limited company is like the LLCs in Finland but with the higher minimum share capital. The statutory requirement being alike the LLCs but there is a requirement of higher authorized share capital which is €80,000 which must be made before registering the company.  
  • These companies are also required to file their financial statements with the Finnish Trade Register and the Finnish Tax Administration. 

Private entrepreneur (Toiminimi) 

  • A private entrepreneur is a sole trader who operates a business. It is comparatively easy and inexpensive to become a private entrepreneur, and it does not require any special formalities or initial capital. However, you must have a permanent place of residence in the European Economic Area (EEA). 
  • Moreover, you will also be subjected to obtain permission from Finnish Patent and Registration Office to start up as a private entrepreneur.  

Partnership (Avoin yhtiö) 

  • An entity where two or more individuals or entities come together to carry out a business activity is a partnership. For operating a partnership, you will be subjected to partnership agreement which can be drafted by our team at Tetra Consultants.  
  • Moreover, for operating a partnership business at least one partner must be a resident of the European Economic Area (EEA), unless a permit is granted by the Finnish Patent and Registration Office. 
  • Thus, if you are willing to start a partnership firm in Finland you can operate it with much ease with the help of Tetra Consultants. We can also help you with the corporate bank account opening services for your company to have a bank account for economic management.  

Branch Office 

  • A branch office is a part of a foreign company (parent company) who is subjected to follow Finland’s legislation only to the part for which the business is carried on in Finland. These branch offices are required to maintain separate Finnish accounts and file tax notifications.  
  • It is also necessary for branch offices to have a local accountant who can handle the branch office’s accounting and tax obligations which can also be fulfilled by Tetra Consultants.  
  • The branch office representative for a non-EEA parent company must be a Finnish resident, while for an EEA parent company, they must be an EEA resident. 

Conclusion 

  • Finland boasts a wide array of business prospects, making it an exceptional destination for foreign entrepreneurs. Choosing to operate a business in Finland is a strategic decision, and Tetra Consultants is poised to assist you in this endeavour. Our all-encompassing packages are meticulously designed to cater to every facet of our client’s business requirements and aspirations. 
  • Contact us to find out more about the business opportunities in Finland and various types of business in Finland, and our dedicated and experienced team will respond within the next 24 hours. 

Tetra Consultants

Tetra Consultants is the consulting firm that works as your advisor and trusted partner in your business expansion. We tell our clients what they need to know, instead of what they want to hear. Most importantly, we are known for being a one-stop solution for our valued clients. Contact us now at enquiry@tetraconsultants.com for a non-obligatory free consultation. Our team of experts will be in touch with you within the next 24 hours.

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