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Doing Business in Finland

Finland is the gateway to Europe and a link between Europe and Asia. Did you know it is only a seven hour flight from Helsinki to Beijing?

Introduction

Finland is constantly ranked as one of the easiest places to do business due to a focus on technology and efficiency. For example companies can be created and managed digitally in a matter of 1-2 weeks, while the same process in Germany will take 2-3 months.

Finnish Tech Giants

Even though Finland has a small population of just 5.5m people, due to its strong focus on education and technology, Finland has constantly produced world-class tech companies like Nokia, Localbitcoin, Linux, Angrybirds, Supercell.

Business taxation

The company tax rate is fair and relatively low by European Standards at 20%. All accounting and taxation can be filed electronically making things a lot more efficient for global companies. The VAT rate is at the high end at 24%.

EU and Euro member

As a member of the EU, a company or business from Finland grants you access to the whole European Union. This market is the largest in the world and even bigger by GDP than the US.

As a member of the eurozone, businesses also get direct access to euro clearance and potentially cheap borrowing on loans due to the low-interest rates.

Finland a Gateway to Asia?

Finland is located right on the border with Russia. Direct flights to Beijing only take 7 hours. A flight to Dubai is 6 hours. There are direct flight to important capitals. In a way Finland provides the perfect access to for Asian companies to enter European markets. 


Language access

Finnish and Swedish are the two official languages of the Republic of Finland. As a highly educated society, English is widely spoken and there is no shortage of lawyers, accountants and other professionals who can communicate in English. 

Other languages that are widely spoken due to immigrants include Russian, Latvian, Estonian and Lithuanian.


Narvi and Finland

Narvi is proud to be part of the Finnish startup and Fintech ecosystem. We have been doing business in Finland since 2015. When deciding to expand our business and acquire a financial license it was a no-brainer to us that Finland was the best place to get regulated and built our product. At Narvi, building good technology and providing efficient and flexible solutions is core to our philosophy. Finland makes a perfect partner for us in this venture. 

Additional Resources

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Starting a business in Finland

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More information from Business Finland