Qustions about setting up business in Finland

[adam123]

Hi!

I am currently employed by a Finnish company in Finland, and meanwhile I am thinking to set up my own small company (oy) which is no related with my employer's business area. Anyone knows if this is allowed in Finland? Thanks.

adam

[ajdias]

Yes.
Is there a reason why this would not be the case, what makes you ask? Just curious.

[MovingToFinland]

You could visit In To servicepoint (www.intofinland.fi) and ask more about setting up a business in Finland.

[Rosamunda]

Hi!

I am currently employed by a Finnish company in Finland, and meanwhile I am thinking to set up my own small company (oy) which is no related with my employer's business area. Anyone knows if this is allowed in Finland? Thanks.

adam

Yes it is allowed. In fact I would say it is quite common in Finland for people to have a salaried job and also have a company. You don't have to set up an Oy though; it might be easier to set up a toiminimi (TMI or sole-trader) in the beginning and then if your idea takes off, you can register an Oy. The main difference between the two (Oy and TMI) is the start-up capital and costs and the tax issues. The profits from a TMI are added to your salaried income from your proper job for personal taxation purposes. Whereas for an Oy, you decide whether you pay yourself a salary or whether you take a dividend from the profits. There are many threads about this on the forum, you should be able to find answers to most of your questions by using the search engine.