Setting Up a Company

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
The Sole Proprietorship (Toiminimi) No minimum capital	1 partner Undefined
Co-operative Decided by the founders, no minimum capital. Participation shares must be of equal value.	Minimum 3 founders Undefined
General partnership (Avoin yhtiö, Ay) No minimum capital	Minimum 2 general partners General Partner is personally liable and without limitation for the company's debts and obligations.
Limited partnership (Kommandiittiyhtiö, Ky) No minimum capital. At least 1 limited partner with financial input.	Minimum 1 general partner + 1 limited partner At least 1 of the members is liable for the debts and obligations of the company.
Private limited company (Osakeyhtiö, Oy) EUR 2,500	Minimum 1 person Liability is limited to the amount contributed.
Public limited company (Julkinen osakeyhtiö, Oyj) EUR 80,000	Minimum 1 person Liability is limited to the amount contributed.

The Competent Organization: National Board of Patents and Registration of Finland (NBPR)
Search a Company or a Financial Report: NBPR, National Board of Patents and Registration of Finland

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Finland.
Trade Register

The Active Population in Figures

	2010
Labor Force	2,680,000

Source: CIA - The world factbook

Source: UN - United Nations

Employed Persons, by Occupation (% of Total Labor Force)	2005
Agriculture and forestry	4.8%
Manufacturing	19.2%
Construction	6.6%
Trade, hotels and restaurants	15.7%
Transport and communications	7.2%
Activities auxiliary to financial intermediation, insurance and business services	13.4%
Public and other services	32.9%
Industry unknown	0.2%
Total	100.0%

For Further Statistics: Statistics Finland
For Further Information About the Labor Market: Information on Finnish working culture

Legal Weekly Duration: Normal working hours may not exceed eight hours per day and 40 hours per week.
Retirement Age: Employees can retire with a pension between the ages of 63 and 68.
Working Contracts: Contracts can be either permanent contracts that remain valid for the time being or for a fixed term (specified in the contract). Permanent contracts (including permanent part-time contracts) represent 86% of the jobs; the representation of fixed term contracts (including part-time fixed term contracts) is 13,6%. The number of people working under fixed term contracts is growing rapidly.

Minimum Wage: Minimum wages are based on collective agreements; there is no standard minimum wage in Finland. An employer, as a member of the employer organisation which has concluded a collective agreement applicable in the sector, follows the collective agreement. An employer, as a non-member of the employer organisation, is also required to follow the generally binding collective agreement applicable in the sector.
Average Wage: The average wage per hour is 13.80 EUR.
Social contributions: Social Security Contributions Paid By Employers: A private employer’s social security contribution varies being 2,951%, 5,151% or 6,051%. The health insurance contribution of a private employer is 2.05% of salaries and the old-age pension contribution is 0.901%, 3.101% or 4.001% depending on the payment class.
Social Security Contributions Paid By Employees: - Health insurance contribution: medical treatment contribution 1.28% and daily allowance contribution 0.75;
- Unemployment insurance contribution: 0.58%;
- Pension insurance contribution: 4.3% for those aged under 53 years and 5.4% for those aged 53 years or more.

Social Dialogue and Involvement of Social Partners: Approximately 80% of Finns are members of a trade union. The International labor Organisation (ILO) recently ranked Finnish unions as amongst the most effective in the world. Finnish unions are occupation-based. There are about 70 trade unions in Finland and they organize employees in all types of work. These unions are affiliated to one of Finlands three labor confederations, SAK, STTK and AKAVA.
Unions: The Central Organization of Finnish Trade Unions (SAK)
Confederation of Unions for Professional and Managerial Staff in Finland (AKAVA)
The Finnish Confederation of Salaried Employees (STTK)
Unionization Rate: The level of Finnish employees’unionisation is among the highest in the industrialized world; 75% of employees belong to a trade union.
Labor Regulation Bodies: Ministry of Employment and the Economy
The Confederation of Finnish Industries
The Central Organisation of Finnish Trade Unions (SAK)
International labor Organization

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