no-EU foreign student open limited company in Finland

cn_d · Post by **cn_d** » Wed May 04, 2016 3:40 pm

Hello, guys.

I'm a Chiense student who study in Finland about 2 yeas, now I have a great opportunity to do the trading business between Finland(or even Eu) and China(most probably also with Japan).

I decide to open a limited company with my partner who is now in China.

Now there are some questions here , please help me .

a. Could I open this company with only a Level B residance permit in Finland?

b. Could I do the daily bookkeeping all by myself? You guys know a small company may dont have that so much money to appoint accounting service to the financial company even they only take the minimum fee 200eu per month.

c. To be honest, I have paid the registration fee(380) to the PRH for confirm the name of new company, now I need to open a business account for the new company, but the Nordea reject my open-account-application for I only have a B residence permit. Therefore, could you tell me which bank could help me open this business account?

Hope guys here can help me. Thanks!

**Sponsor:**

betelgeuse · Post by **betelgeuse** » Thu May 05, 2016 12:50 am

cn_d wrote: a. Could I open this company with only a Level B residance permit in Finland?

Yes.

cn_d wrote: b. Could I do the daily bookkeeping all by myself? You guys know a small company may dont have that so much money to appoint accounting service to the financial company even they only take the minimum fee 200eu per month.

Legally speaking it's not required to have an accountant. Practically speaking do you know enough about Finnish legislation to manage yourself? Most likely not.

cn_d wrote: c. To be honest, I have paid the registration fee(380) to the PRH for confirm the name of new company, now I need to open a business account for the new company, but the Nordea reject my open-account-application for I only have a B residence permit. Therefore, could you tell me which bank could help me open this business account?

https://about.holvi.com/en/ is a good option

cn_d · Post by **cn_d** » Thu May 05, 2016 3:02 am

Thank you for the reply.

Could you please tell me much more about the "Finnish legislation to manage yourself"?

cors187 · Post by **cors187** » Thu May 05, 2016 7:12 am

c. To be honest, I have paid the registration fee(380) to the PRH for confirm the name of new company, now I need to open a business account for the new company, but the Nordea reject my open-account-application for I only have a B residence permit. Therefore, could you tell me which bank could help me open this business account?

I think its possible your maistratti address is still a temporary status, it needs to be status "permanent" . It doesnt mean your living here permanently , its just "continual status".

I thought its possible to get continuous status from maistratti after living here 1 year.

cors187 · Post by **cors187** » Thu May 05, 2016 7:23 am

b. Could I do the daily bookkeeping all by myself? You guys know a small company may dont have that so much money to appoint accounting service to the financial company even they only take the minimum fee 200eu per month.

Some booking companies=
First you will get fleeced for 100,s of euro per month and the economy of your companies in and outs(true book keeping ) will still be a mystery.

You need to study out the legal requirements for accounting/book keeping for a LLC/OY in Finland.

Theres a difference between the legal requirements for a LLC/OY in Finland and having effective books.

cn_d · Post by **cn_d** » Thu May 05, 2016 2:43 pm

=.= The Nordea teller told me I need A residence permit to open cooperate account. I booked the OP-POHJOLA in Friday.

But if all the bank have this provision. OMG....

cn_d · Post by **cn_d** » Thu May 05, 2016 2:46 pm

cors187 wrote:
b. Could I do the daily bookkeeping all by myself? You guys know a small company may dont have that so much money to appoint accounting service to the financial company even they only take the minimum fee 200eu per month.
Some booking companies=
First you will get fleeced for 100,s of euro per month and the economy of your companies in and outs(true book keeping ) will still be a mystery.

You need to study out the legal requirements for accounting/book keeping for a LLC/OY in Finland.

Theres a difference between the legal requirements for a LLC/OY in Finland and having effective books.

I will try to find some material about this. =.=

betelgeuse · Post by **betelgeuse** » Fri May 06, 2016 10:32 am

cn_d wrote:Could you please tell me much more about the "Finnish legislation to manage yourself"?

For example a lot of the material is only available in Finnish and Swedish. Do you speak Finnish or Swedish? If not, you will have a hard time with, for example, the financial statements. By law they must be in Finnish or Swedish.

"Tilinpäätös ja toimintakertomus on esitettävä suomen tai ruotsin kielellä euromääräisenä. "

http://www.finlex.fi/fi/laki/ajantasa/1 ... 71336#L3P5

If you are on the board, ignorance does not relieve you from responsibility. You are planning on trading between multiple countries, so your company needs to have understanding of at least the following:

- Finnish accounting legislation
- Finnish value added tax legislation
- EU/Finnish customs legislation
- Finnish employment legislation (if you employ anyone)

You personally need to be aware of rules concerning social security of entrepreneurs.

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