How to establish my business and buy a home as foreigner

How to? Read other's experiences. Find useful advice on shipping, immigration, residence permits, visas and more.
strounchette
Posts: 2
Joined: Thu Jun 11, 2020 6:44 pm

How to establish my business and buy a home as foreigner

Post by strounchette » Thu Jun 11, 2020 7:55 pm

Hello,

I am a French self-employed guide specialized on the Nordic countries. For the last 6 years I have been renting a chalet in Lapland to welcome French guests over the winter season. Since I spent a lot of money on the rental every year I am now considering on buying a chalet but I do not intend to be a permanent resident in Finland. I will be there just 4-5 months per year and the rest of the time I will be working in Iceland, Norway and other destinations as usual.

My home country is France, therefore my idea is to buy the chalet I usually rent as a second home but depending of the legal aspects I might need to create a company in Finland or to register (or not?) to be able to run my business (?). The owner of the chalet is ready to sell his property and he provided the information I need. As my French bank doesn't fund the purchase of real estate abroad I need to find a Finnish bank and to move quickly.

I spent hours on websites but my situation being a bit specific I would really appreciate any advice or contacts you may have.

Many thanks in advance !

Marc



How to establish my business and buy a home as foreigner

Sponsor:

Finland Forum Ad-O-Matic
 

betelgeuse
Posts: 3489
Joined: Thu Aug 29, 2013 1:24 am

Re: How to establish my business and buy a home as foreigner

Post by betelgeuse » Fri Jun 12, 2020 12:17 am

strounchette wrote:
Thu Jun 11, 2020 7:55 pm
I am a French self-employed guide specialized on the Nordic countries. For the last 6 years I have been renting a chalet in Lapland to welcome French guests over the winter season. Since I spent a lot of money on the rental every year I am now considering on buying a chalet but I do not intend to be a permanent resident in Finland. I will be there just 4-5 months per year and the rest of the time I will be working in Iceland, Norway and other destinations as usual.

My home country is France, therefore my idea is to buy the chalet I usually rent as a second home but depending of the legal aspects I might need to create a company in Finland or to register (or not?) to be able to run my business (?). The owner of the chalet is ready to sell his property and he provided the information I need. As my French bank doesn't fund the purchase of real estate abroad I need to find a Finnish bank and to move quickly.

I spent hours on websites but my situation being a bit specific I would really appreciate any advice or contacts you may have.
This implies you should have already been filing tax returns in Finland. You should get help from an accountant to get things in order. You don't need a company as it's possible to do things as a private trader. However, it's not often the most tax efficient structure.

strounchette
Posts: 2
Joined: Thu Jun 11, 2020 6:44 pm

Re: How to establish my business and buy a home as foreigner

Post by strounchette » Fri Jun 12, 2020 12:28 pm

Thank you for your advices. I forgot to mention that the travelers are all paying their trip in France via my partners. As self employed I was told that I do not need to register in Finland if working there less than 6 months.

If you know any French entrepreneurs in Finland or have any connection with bankers or accountants, please let me know.

Thanks again.

Marc

betelgeuse
Posts: 3489
Joined: Thu Aug 29, 2013 1:24 am

Re: How to establish my business and buy a home as foreigner

Post by betelgeuse » Fri Jun 12, 2020 2:14 pm

strounchette wrote:
Fri Jun 12, 2020 12:28 pm
Thank you for your advices. I forgot to mention that the travelers are all paying their trip in France via my partners. As self employed I was told that I do not need to register in Finland if working there less than 6 months.
I interpreted welcoming French guests to mean that they stay at the chalet. In this case you would have been receiving rental income which always needs to be declared. The chalet might also mean you have a permanent establishment which means the 6 months wouldn't apply. For social security purposes you also need to have had an A1 certificate from France.

FinlandGirl
Posts: 401
Joined: Sat Nov 09, 2019 10:43 am

Re: How to establish my business and buy a home as foreigner

Post by FinlandGirl » Fri Jun 12, 2020 2:22 pm

strounchette wrote:
Thu Jun 11, 2020 7:55 pm
I am now considering on buying a chalet but I do not intend to be a permanent resident in Finland.
...
As my French bank doesn't fund the purchase of real estate abroad I need to find a Finnish bank
I would be surprised if you manage to find a Finnish bank willing to grant a mortgage to a foreigner without Finnish credit history who does not even live in the country.

inkku
Posts: 773
Joined: Wed Apr 04, 2007 8:26 pm

Re: How to establish my business and buy a home as foreigner

Post by inkku » Fri Jun 12, 2020 4:25 pm

strounchette wrote:
Fri Jun 12, 2020 12:28 pm
Thank you for your advices. I forgot to mention that the travelers are all paying their trip in France via my partners. As self employed I was told that I do not need to register in Finland if working there less than 6 months.

If you know any French entrepreneurs in Finland or have any connection with bankers or accountants, please let me know.

Thanks again.

Marc
Perhaps asking the Chambre de Commerce?
https://www.ccff.fr/


toystory
Posts: 32
Joined: Mon May 04, 2020 5:09 pm

Re: How to establish my business and buy a home as foreigner

Post by toystory » Fri Jun 12, 2020 5:58 pm

FinlandGirl wrote:
Fri Jun 12, 2020 2:22 pm
I would be surprised if you manage to find a Finnish bank willing to grant a mortgage to a foreigner without Finnish credit history who does not even live in the country.
What's a good way to establish credit history in Finland?

betelgeuse
Posts: 3489
Joined: Thu Aug 29, 2013 1:24 am

Re: How to establish my business and buy a home as foreigner

Post by betelgeuse » Fri Jun 12, 2020 6:03 pm

toystory wrote:
Fri Jun 12, 2020 5:58 pm
FinlandGirl wrote:
Fri Jun 12, 2020 2:22 pm
I would be surprised if you manage to find a Finnish bank willing to grant a mortgage to a foreigner without Finnish credit history who does not even live in the country.
What's a good way to establish credit history in Finland?
The only way to do it is by permanent residence status in the population register. The longer you have had it while having no negative events, the better. There's no positive register in Finland (against the current law).

toystory
Posts: 32
Joined: Mon May 04, 2020 5:09 pm

Re: How to establish my business and buy a home as foreigner

Post by toystory » Fri Jun 12, 2020 6:06 pm

betelgeuse wrote:
Fri Jun 12, 2020 6:03 pm
The only way to do it is by permanent residence status in the population register. The longer you have had it while having no negative events, the better. There's no positive register in Finland (against the current law).
Is right of residence (eu family) considered permanent status?

What is an example of a negative event?

How can one check these negative events record?

betelgeuse
Posts: 3489
Joined: Thu Aug 29, 2013 1:24 am

Re: How to establish my business and buy a home as foreigner

Post by betelgeuse » Fri Jun 12, 2020 6:23 pm

toystory wrote:
Fri Jun 12, 2020 6:06 pm
betelgeuse wrote:
Fri Jun 12, 2020 6:03 pm
The only way to do it is by permanent residence status in the population register. The longer you have had it while having no negative events, the better. There's no positive register in Finland (against the current law).
Is right of residence (eu family) considered permanent status?
It's separate from immigration status. The other term for the status is having a municipality of residence. For example, an EU family member in Finland on a 4 month holiday (would still need to register right of residence) would not have a municipality of residence.
toystory wrote:
Fri Jun 12, 2020 6:06 pm
What is an example of a negative event?
A court order for the purpose of collecting a debt.
toystory wrote:
Fri Jun 12, 2020 6:06 pm
How can one check these negative events record?
https://www.asiakastieto.fi/web/fi/kulu ... yynto.html

FinlandGirl
Posts: 401
Joined: Sat Nov 09, 2019 10:43 am

Re: How to establish my business and buy a home as foreigner

Post by FinlandGirl » Fri Jun 12, 2020 8:35 pm

toystory wrote:
Fri Jun 12, 2020 5:58 pm
FinlandGirl wrote:
Fri Jun 12, 2020 2:22 pm
I would be surprised if you manage to find a Finnish bank willing to grant a mortgage to a foreigner without Finnish credit history who does not even live in the country.
What's a good way to establish credit history in Finland?
The only way is living for several years in Finland without defaulting on any debt.

FinlandGirl
Posts: 401
Joined: Sat Nov 09, 2019 10:43 am

Re: How to establish my business and buy a home as foreigner

Post by FinlandGirl » Sat Jun 13, 2020 11:54 am

strounchette wrote:
Fri Jun 12, 2020 12:28 pm
or have any connection with bankers or accountants,
http://www.paritilit.fi/?lang=en

User avatar
agroot
Posts: 249
Joined: Sat Dec 22, 2018 5:04 pm

Re: How to establish my business and buy a home as foreigner

Post by agroot » Sat Jun 13, 2020 4:03 pm

Would it help to move holding of investment (stocks etc) from 3rd party to local banks here?

FinlandGirl
Posts: 401
Joined: Sat Nov 09, 2019 10:43 am

Re: How to establish my business and buy a home as foreigner

Post by FinlandGirl » Sat Jun 13, 2020 4:33 pm

agroot wrote:
Sat Jun 13, 2020 4:03 pm
Would it help to move holding of investment (stocks etc) from 3rd party to local banks here?
There are no stocks in self-employment.


Post Reply