Questions about limited company (Oy)

[rai1984]

Hi,

I have some questions about establishing a Limited Company (Oy).

For starting a limited company there is a required starting capital of 2500€ you have to have in your "future" company account.

What can you do or use those money for?
I know that you can use 350€ from those 2500€ to pay the registration fee. Is that right?
If I go to the bank and open that temporary account and put there 2500€, get the prove that I have the money in the account, right after that make the 350€ payment for the registration fee ... is this the way is done?

What about purchases? I assume I can use the amount left for purchases if I need anything for my business? Is that right?

Salary: can I pay my salary from those money? Can I decide how much ? Or how exactly is working?

Thanks!

[Rosamunda]

The 2500e is the capital that you need to start your business. You can use it to buy assets (equipment, tools, supplies) or to pay salaries. But generally speaking, it is money that is to be invested in the business in order to produce revenue and profit.

There are all kinds of books you can buy on business accounting and the TE Keskus also offers free courses to people starting up their own companies: http://www.yrityssuomi.fi/web/enterpris ... -training1
and you might want to consider looking for a bookkeeper to help you with the accounting paperwork.