Thank you for landing in to this page. Sorry to inform you that Invest in Eastern Finland and Invest in Southeast Finland projects have come to an end.
Thank you for landing in to this page. Sorry to inform you that Invest in Eastern Finland project has come to an end. The project acheved great results.
Thank you for landing in to this page. Sorry to inform you that Invest in Southeast Finland project has come to an end. The project acheved great results.
We build lasting bridges between our clients and Finland. We work nationally and in close cooperation with our regional partners. Therefore, we offer a consolidated approach as to the value that Finland can bring to your company.
In most cases, the location of a business is critical to its future success. Location management is a key service provided by Invest in Finland. By tailoring our services to meet your precise needs, with our regional partners we identify locations with the best potential for your business operation. Once there is a short list, we can arrange visits and join you at the meetings.
As well as comparing locations, the goals of our location management service include identifying location-specific investment incentives, innovation programs and recruitment and training opportunities. We can guide you through all the steps in the site selection process and connect you with relevant networks and service providers.
In employment contracts and employment relationships, employers must comply with the minimum requirements on employment terms and the conditions stated in a nationwide collective labour agreement considered to be representative of the sector. An employee posted to Finland is entitled to the salary determined by a universally valid Finnish collective labour agreement for the sector.
According to the Employment Contracts Act, an employer must provide employees with a description of the most essential terms and conditions of employment if they are not indicated on a written employment contract. An employment contract can be made for a specified period or until further notice. In an employment contract, the employee personally commits to working for the employer under their management and supervision against wages or other compensation.
An employment contract can be made for a specified period or until further notice. An employment contract for a specified period requires a justified reason. An employment contract can be made in writing, orally or electronically.
Accident and pension insurance
An employer must take out accident and pension insurance for their employees; employees must be provided with group life insurance and unemployment insurance in connection with accident insurance. An employer must also provide occupational health care.
Tax and social security
An employer is responsible for paying any withheld taxes and social security contributions to the tax authorities, and must submit annual notifications to the tax authorities, and the pension and accident insurance companies. Information on the wages and salaries paid to employees must also be submitted.
Terms and conditions of employment
Regular working hours are usually at most 8 hours per day and 40 hours per week. In a two week period, working hours are no more than 80 hours and in a three week period no more than 120 hours. The weekly hours may also be arranged in longer and shorter periods during which the average weekly hours do not exceed 40 hours. Working hours can take on alternative arrangements, for example in two or three week periods – this must be done according to the law or through collective agreements.
An employee also has the right to receive pay for the time he/she is on annual holiday. When employment has lasted less than 1 year, holiday leave is normally based on gaining 2 days or 2 1/2 days for each holiday credit month worked. Maximum amount of holiday per year is 5 weeks, if not otherwise determined in a collective labour agreement for a sector. Normal wages are paid for the time an employee is on holiday.
According to the law, an employee who is unable to work due to an illness or an accident is entitled to paid sick leave. Wages are paid for the day when the illness started and for the working days. If at the start of the disability, the employment relationship has lasted for at least one month, the employee will be paid full wages for the said period. If the employment relationship has lasted for a period that is shorter than one month, half of the wages will be paid for the same period.
Parental leave lasts 158 working days and is taken during pregnancy or in the period following birth. It is extended by 60 working days per child in the case of multiple births. Both parents can take the parental leave in up to two separate periods of at least 12 working days each During parental leave, Kela (The Social Insurance Institution of Finland) pays parental allowance..
Employer costs for a business
Required contributions by employers include:
• Employers’ health insurance (social security) contribution
• Unemployment insurance
• Earnings-related pension (TyEL) insurance contribution
• Group life insurance premium
• Occupational accident insurance
When your company hires employees, they must take care of the insurance of their employees as well as the payment of wages, withholding tax and insurance premiums. Statutory insurance and other payments include:
• employment pension insurance
• insurance against the risk of accident and occupational disease
• group life insurance for employees
• unemployment insurance contribution
• social security contribution
Following information updated in September 2018:
Employer’s pension contribution
Average 17.75 %
Employment accident insurance according to risk and the size of the company
Average 0.80 %
Unemployment insurance, total wages under 2 083 500 €
Unemployment insurance for the portion of the wage bill exceeding 2 083 500 €
Group life insurance
Employer’s social security contribution
Total wages under 2 083 500 €
Average 20.13 %
Wages exceeding 2 083 500 €
Average 22.08 %
Source: Confederation of Finnish Industries (EK)
When you need business services like bookkeeping, advertising, banking, employee recruitment and legal, we have the knowledge and the contacts.
We also work closely with our regional partners that have business service networks in their regions. We have listed five of the biggest service providers in each category.
Source: Alama Talent Oy / Balance Consulting
Source: The Finnish Association of Marketing Communication Agencies (MTL)
Source: Federation of Finnish Financial Services
- Silta Oy
- Visma Services Oy
- Rantalainen Accounting Services
- Tampereen Kirjanpitotoimisto Oy
Source: Statistics Finland
Source: Statistics Finland
- Roschier Attorneys Ltd.
- Castrén & Snellman Attorneys Ltd
- Krogerus Attorneys Ltd
- Hannes Snellman Attorneys Ltd
- Attorneys at law Borenius Ltd
Source: Vainu. io Software Ltd
We’ll help you set up a business in Finland. Whatever your needs are, Invest in Finland’s experts are ready to help you. Our services are free of charge and always tailored to meet your precise needs.
- Relevant information for fact-based decision making
At the business planning stage data collection is essential but time consuming. Invest in Finland has been supplying high-quality data collection services to a wide variety of international companies for more than 20 years. There's no need to tie up your resources – let us help you.
- Solutions for your business needs
Looking for growth for your business? Use our advisory services to ensure that you will be well positioned when you decide to make your move. Our professional advisors will be an extra resource for your business development team, providing valuable assistance and in-depth market know-how.
– Let us open the doors for you
Finland is ranked at the top in a number of international studies and surveys. One area in which our performance is considered particularly good is networking between private companies, the public sector and educational institutions. We can introduce you to the players who will be important for your business. We have the knowledge and the contacts – and will be happy to both organise and accompany you on fact-finding missions to all the key players.
- Evaluating most suitable market entry strategies
Localising your business plan requires careful evaluation of potential entry alternatives. Our fact-based advisory services provide extensive guidance on market entry strategy. We can answer your questions regarding the requirements for different types of business entities, registration and how the Finnish taxation system works. With a concrete entry plan in place, decisions on how to proceed are uncomplicated.
– Helping you select the perfect site
Location management is a key service provided by Invest in Finland. We can identify locations with the best potential for your business operation. Whether the issue is finding the best talent, choosing the right campus for a data center or finding international schools for the children of your expatriate employees, we will help you find a suitable solution. Once a short list has been compiled, we can arrange visits and accompany you to meetings.
Setting up a business
- Tools and plans for establishing or expanding a business in Finland
Setting up a business in Finland is quick and easy. Our extended network of contacts with public authorities and service providers in the private sector simplify everything involved in starting up a business. Launching your new operation on schedule – with or without the media – will be important to your success. Let us help you make it happen.
Whatever your needs are, Invest in Finland’s advisors will be pleased to help you. Our services are free of charge and always tailored to meet your precise needs.