Before doing business in Finland
Learn more about:
- How to set up a Business in Finland
- Opening of a Corporate Bank Account
- Aspects to consider for a limited company in Finland
- Finnish Economy
- Law, regulations and Standards
- Government and Politics
- Taxation and Tax System in Finland
- Dividends, Interest and Royalties
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Finland is bordered by Sweden to the west, Norway to the north, Russia to the east and by Estonia to the south across the Gulf of Finland. The population is circa 5.5 million. Helsinki, the capital, has 590,000 residents and if one includes its neighbouring areas, the Greater Helsinki region’s population is about 1.4 million. By area Finland is the fifth largest country in Western Europe – 338,440 km² with a population density of 17.9 inhabitants per km².
Forests cover three quarters of the country’s surface area. Other outstanding features of Finland’s scenery are around 190,000 lakes and almost as many islands and skerries. The principal archipelago and the self-governing province of the Aaland Islands lie off the south-west coast while the main lake district, centered on Lake Saimaa, is in the east.
Finland offers many opportunities for success, boasting both a highly educated and reliable work force and an infrastructure which functions exceptionally well. Finland also has a tradition of ranking high in the annual Global Competitiveness Reports published by the World Economic Forum.
Economy of Finland
Finland has a highly-industrialized economy with per capita GDP almost as high as that of Austria, Belgium, or Sweden. In fact, trade is important, with exports accounting for over one-third of GDP in recent years. Finland has traditionally been a small, open economy with a large export sector in relation to GDP.
Finnish economy focuses mainly on metals, engineering, wood, telecommunications, and electronics industries. Finland also specialises on export of technology for mobile phones as well as promotion of start-ups in the information and communications technology, gaming, cleantech, and biotechnology sectors.
The Finnish do depend on importing raw materials, energy, and some components for manufactured goods. Due to the cold climate, agricultural development is very limited to maintaining self-sufficiency in basic products. Nevertheless, Forestry is an important export industry, providing a secondary occupation for the rural population.
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Learn more about:
- Common forms of Business in Finland
- Corporate Tax Rate in Finland
- VAT Rate in Finland
- Accounting Period in Finland
- Foreign-Exchange Controls, Restrictions/Licensing Requirements
- and much more!
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