Before founding: what you decide
- The company name and any auxiliary names.
- The industry and registered home municipality.
- The shareholders and how the shares are split.
- The share capital — it can be €0 (no minimum since 2019).
- The board and, if needed, a managing director.
Step by step
- Prepare the documents: the deed of foundation and the articles of association (standard articles are enough for the guided package).
- Log in to the YTJ service with bank credentials and choose the guided founding of a limited company.
- Fill in the company details and register for the necessary tax registers: the prepayment register, the VAT register (if turnover exceeds €20,000) and the employer register (if you hire).
- Pay the handling fee and submit — the same notification goes to both PRH and the Tax Administration.
- You usually get a Business ID (Y-tunnus) the next business day; the Trade Register entry can take a little longer.
What does founding an Oy cost in 2026?
- Guided electronic founding in YTJ: €300.
- Regular electronic foundation notification: €400.
- Share capital: €0.
- Bookkeeping: a monthly fee (from a few dozen euros).
- A possible audit (not mandatory for a small company).
PRH handling fees rose on 1 Jan 2026. The guided package requires €0 share capital, standard articles of association and that all shareholders have a Finnish personal ID. Confirm the current fees with PRH.
Does an Oy need an auditor?
A small limited company does not need an auditor if at most one of these limits is exceeded in two consecutive financial years: turnover €200,000, balance-sheet total €100,000, or an average of three employees. Most new companies stay below the limits.
After founding
- Open a separate company bank account and never mix personal funds with the company’s funds.
- Set up double-entry bookkeeping — it is mandatory for a limited company.
- Decide how you take money out: as salary and/or dividends.
- File VAT and tax returns on time.
Help with founding
We handle the whole company founding and the bookkeeping — in your language. You see your finances in real time in Vaavo.
Frequently asked questions
- How much does it cost to set up an Oy?
- Guided electronic founding in YTJ costs €300 and the regular foundation notification €400 (2026). No share capital is required (€0).
- How long does founding take?
- You usually get a Business ID the next business day. The Trade Register entry can take longer, but you can start operating with the Business ID.
- Can I found a limited company alone?
- Yes. A single person can found a limited company and own it entirely.
- Does a small Oy need an auditor?
- No, if it stays below the limits (turnover €200,000, balance €100,000, 3 employees — at most one may be exceeded in two consecutive years).
Need help?
We help with setting up your business, taxes and bookkeeping — in five languages.