Finland is a highly globalized industrial economy with a thriving service sector. Finland offers a first-class business environment: starting a business is easy and fast, and public research and development funding is readily available. Functional infrastructure, modern logistics and communications networks make doing business easy. Finland offers a accessible location in the growing markets of Northern Europe. Highly educated people are known as effective problem solvers and very reliable partners.
The Finnish government is business-friendly and the country has a developed infrastructure, a skilled workforce and competitive operating costs. Finland is one of the least corrupt countries in the world according to Transparency International.
English is the common language of Finland’s highly international business community. It is also widely spoken throughout the population and especially among the younger generations. Swedish is Finland’s second official language in addition to Finnish and many Finns also speak Russian.
The business environment is highly conducive to direct foreign investment. Foreign-owned companies can benefit from government investment incentives and access to the latest research from the extensive cooperation between Finnish universities and the private sector. Foreign investment in Finland is welcomed as a boost to the dynamism of the economy. As one of the most competitive and open economies in the world, Finland has a great deal to offer foreign investors.
Finland’s long experience of trade in Northern Europe, combined with its historical and cultural ties to its neighbouring countries, offers valuable insight and knowledge into the region. Finland is also the ideal business gateway to Russia. Most of the transit trade from the EU to Russia already passes through Finland as the countries share the same rail gauge.The distance from Helsinki to St. Petersburg is only 400 kilometres, three hours by train.
Tax revenue is the public sector’s most significant source of income. The Tax Administration collects the majority of Finnish taxes and tax-like charges.
Corporation tax is uniform for all types of corporate income. This includes sales profits, interest income, dividends, royalties and rental income. Value-added tax (VAT) is charged on most goods and services.