If you would like to open a company in Finland and develop the activities in the financial sector it is good to consider obtaining a license in this case. The Financial Supervisory Authority (FIN-SA) is the agency that accepts applications for a financial license in Finland. This article contains some useful information about this type of license, also stating that our agents in company formation in Finland can guide you in this process plus many others.
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What financial licenses are available in Finland?
FIN-SA is the authority that issues financial licenses in Finland for:
- banking,
- insurance companies,
- non-financial institutions,
- credit organizations,
- investment firms,
- fund management activities,
- electronic money institutions,
- mortgage credit intermediaries,
- insurance brokers,
- virtual currency providers,
- consumer credit providers.
If you are planning to start a company in Finland, we are more than glad to help you obtain a financial license for the above-mentioned types of firms/activities. We know the legislation and the formalities imposed for such operations in Finland.
What conditions must you respect for getting a financial license in Finland?
There are certain regulatory conditions that a business owner must respect when applying for a financial license in Finland. Here is what we are talking about:
- The financial company must have a registered business address/headquarters in Finland.
- The company in question must have adequate financial resources and internal governance implemented.
- When applying for a financial license in Finland, ethical standards and well-planned and organized business operations must be taken into account.
- A standard application form (in Finnish and Swedish) is provided by FIN-SA for those interested in obtaining a financial license in Finland. It must be completed with comprehensive information about the company’s activities.
We invite you to discover more about financial licenses in Finland by getting in touch with our local agents. We offer assistance and guidance to foreign entrepreneurs who want to develop their businesses in the financial sector of Finland.
Processing period for a financial license application in Finland
The processing period for getting the financial license in Finland depends on the type of activity. For example, in the case of credit institutions, the authorization decision might take around 4 months. However, if documents are missing or additional documents are requested, the decision may come within 12 months from the date of application. In the case of insurance companies in Finland, the license may be issued within a maximum of 6 months from the date of application. As for payment institutions, they can obtain a financial license from FIN-SA in approximately 3 months from the date of application.
Whatever your business decision in Finland, we invite you to discover the services offered by our company. We help you set up a company in Finland and obtain a financial license for the following activities in this economic sector.
About the financial sector in Finland
We present some interesting facts about the financial sector of Finland that can help you when you open a company:
- Consumers’ house acquisition and borrowing intentions have increased in 2024. Moreover, the number of property transactions enhanced, according to the latest data.
- In 2025, private consumption and investment will be supported by declining interest rates.
- On the other hand, the economy of Finland is forecast to grow by approximately 1.6% in 2025 and around 1.7% in 2026, according to data offered by Oecd.org.
Interested in getting a financial license in Finland? Please contact our experts in company incorporation in Finland and explore the services and assistance we offer.