Foreign entrepreneurs can open a sole trader in Finland with specialized help provided by our team. Our local agents can guide you in setting up a company in Finland, including providing you with details about the business structure mentioned above. Moreover, in the following lines, you can get an idea about the formalities of a sole proprietorship in Finland.
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Sole trader, a simple business structure in Finland
Those who want to open a company in Finland and want a simpler business structure in this sense can opt for sole proprietorship. Both local and foreign citizens can open a sole trader in Finland, and among the formalities we mention:
- Articles of Association are drafted first.
- The identification documents of the person who wants to set up a sole trader in Finland are required.
- Notification and fee receipts issued by the Finnish Trade Register are also required when registering a sole trader in Finland.
- It is necessary to open a corporate bank account in Finland.
- Other forms related to opening a company in Finland, respectively sole trader, must also be completed.
We remind you that our company formation agents in Finland can successfully manage the formalities and procedures for opening a sole trader in this country. We recommend our services for company formation in Finland, regardless of the chosen business structure, to simplify the incorporation process as much as possible.
Other conditions for sole proprietorship registration in Finland
According to the Company Act in Finland, those who want to start a sole proprietorship must be at least 18 years old. There is no need for a minimum share capital, and the activities can start as soon as the sole trader is registered in Finland. Moreover, there is no need for a company stamp, specific accounting provisions, or an annual filing report, which greatly simplifies the operations of this structure. Here are other interesting aspects of opening a sole trader in Finland:
- The ID number linked to the sole trader is issued by the Finnish Trade Register immediately after establishment.
- It is recommended to check the name and reserve it before preparing the documents.
- A residence permit is required for citizens from non-EU/EEA countries who want to open a sole trader in Finland.
What taxes are paid for a sole proprietorship in Finland?
Setting up a company in Finland requires a careful analysis of the taxes related to the economic activities carried out. In the case of a sole trader in Finland, income tax is paid per individual profits. Registration for VAT is done if the annual turnover exceeds EUR 15,000. We advise you to contact our Finnish agents to obtain a tax ID in Finland.
Short conclusion about sole traders in Finland
A sole proprietorship in Finland is an optimal business structure for those who want to develop their economic activities in this country, without complexities. You have at hand the services offered by our specialists in company formation in Finland, and to get an idea of the reasons why you can invest in this country, you can discover the following statistical data:
- Experts concluded after the latest analyzed data that Finland is coming out of recession and that the economic environment has improved starting with the year 2024.
- An increase in inflation of around 2% in 2025 is expected, and it will drop to 1.6% in 2026.
- An approximately 3.4% increase in GDP is estimated until the end of 2024.
So, if you want to open a sole trader in Finland, don’t hesitate to contact us. We can advise you on the formalities and offer the necessary assistance in fulfilling all the conditions.