Working as a contractor in Finland for a US company

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jperickson
Posts: 2
Joined: Mon Dec 07, 2020 4:58 pm

Working as a contractor in Finland for a US company

Post by jperickson » Sat Dec 19, 2020 4:57 pm

Hello - I will be moving to Finland in 2021 from the US on a residence permit (family-based, not work-based). I want to keep working for my company which is based in the US, but as a contractor. I've looked into the pros and cons of tmi vs OY (including on this forum), but one question I still don't know the answer to is: What exactly is the difference/benefits of a tmi versus just having my US-based client pay me directly and I count it as income, no tmi or OY registered? Is this even an option in Finland? Is it because of VAT registration and YEL insurance? In the US it is generally possible to do this, but usually an LLC is advised because of liability. But from what I've read, a tmi doesn't seem to offer you that same protection anyways. Any insight would be greatly appreciated. Thank you!



Working as a contractor in Finland for a US company

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betelgeuse
Posts: 3717
Joined: Thu Aug 29, 2013 1:24 am

Re: Working as a contractor in Finland for a US company

Post by betelgeuse » Sat Dec 19, 2020 6:45 pm

jperickson wrote:
Sat Dec 19, 2020 4:57 pm
Hello - I will be moving to Finland in 2021 from the US on a residence permit (family-based, not work-based). I want to keep working for my company which is based in the US, but as a contractor. I've looked into the pros and cons of tmi vs OY (including on this forum), but one question I still don't know the answer to is: What exactly is the difference/benefits of a tmi versus just having my US-based client pay me directly and I count it as income, no tmi or OY registered? Is this even an option in Finland? Is it because of VAT registration and YEL insurance? In the US it is generally possible to do this, but usually an LLC is advised because of liability. But from what I've read, a tmi doesn't seem to offer you that same protection anyways. Any insight would be greatly appreciated. Thank you!
When you are not registered, your US client will, for example, have reporting duties to Finnish authorities. For example, to the incomes register. Usually they are not willing to figure out and do those.


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