The document provides insights on setting up a business in Helsinki, highlighting its dynamic operating environment, skilled workforce, and supportive infrastructure. It covers costs, tax rates, financial incentives, and resources available for foreign companies. Additionally, it emphasizes Helsinki's strength in knowledge-intensive sectors like ICT and life sciences, making it an attractive location for investment and growth.

1. BRING YOUR BUSINESS
TO HELSINKI

2. We’re happy that you are considering
Helsinki as a place to do business.
We want to help you make the best decision for your business. Therefore we have collected some facts to help you in making a decision
whether Helsinki is the right location for you. We of course believe it is. In this presentation we have gathered you information about
We’re here for you!
1
WHAT IS FINLAND LIKE AS AN
OPERATING ENVIRONMENT? WHY
SHOULD YOU COM TO HELSINKI? 2
WHAT COSTS AND INCENTIVES ARE
THERE INVOLVED IN SETTING UP A
BUSINESS? 3 HOW CAN WE HELP YOUR BUSINESS
TO GROW?

3. CLICK IMAGES BELOW TO NAVIGATE THE PRESENTATION

4. 1. Finland
The most dynamic
country in Europe

5. Finland has
THE WORLD’S BEST WORKERS
Over a third of the Helsinki region inhabitants
have a higher-level education and Finnish
students are consistently ranked amongst the
smartest on the planet.
Finns have the work ethics and trans-sectorial
skills needed to succeed in knowledge-
intensive businesses in a global economy.
Supported by an unmatched, modern
infrastructure, it's no wonder Finns are
constantly ranked as one of the world's most
productive workforces.HELSINKI
ESPOO
VANTAA

6. 3.31 3.30 3.06 2.85 2.81
2.23 2.01 1.74 1.66 1.64
% SHARE OF GDP EXPENDITURE ON R&D
2013
289 271
223
112
32
Sweden Finland Denmark Norway Estonia
PATENT APPLICATIONS
(PER MILLION INHABITANTS), 2012
% OF R&D PERSONNEL
PERSONS EMPLOYED IN BALTIC SEA REGION, 2013
2.18 2.16
1.72
0.94
Denmark Finland Sweden Estonia
Highly educated professionals
The world’s best educational system
Outstanding research opportunities
We host
A CULTURE OF FRESH THINKING

7. And we consistently
TOP THE RANKINGS
1
2
3
4
HIGHER EDUCATION AND TRAINING**
HEALTH AND PRIMARY EDUCATION**
INNOVATION**
WEF HUMAN CAPITAL INDEX*
AVAILABILITY OF SKILLED LABOUR***
EDUCATIONAL SYSTEM***
LEAST CORRUPTED
COUNTRY IN THE
WORLD****
MOST COMPETITIVE
ECONOMY IN THE WORLD**
*Human Capital Report 2015
** Global Competitiveness report 2014-2015
***IMD, World Talent Report 2014
**** Transparency International 2014

8. Finland has EUROPE’S HIGHEST LEVEL OF VENTURE INVESTMENT in relation to GDP, according to a
study by FVCA. Switzerland, Sweden, Ireland and the UK are also in the top-5.
2015 venture financing totaled 122 MILLION EUROS, of which 21 million euros (17%) came from
foreign venture investors.
Around 70% OF VENTURE INVESTMENT DEALS and up to 80% OF VENTURE INVESTMENT VALUE
went to companies located in THE HELSINKI REGION (source: BVD Zephyr).
ICT and LIFE SCIENCES are the sectors attracting most venture capital investment.
2015 there were 40 Finnish venture divestments worth 106 MILLION EUROS (amount at cost!),
exceeding Sweden, Denmark and Norway’s divestments.
VENTURE INVESTMENT activity

9. Average MONTHLY SALARIES in Finland
€6 474
€4 457
€3 574
€3 561
€2 921
€2 907
€2 760
€2 501
€2 387
€2 279
Directors and managers
Senior specialists
All employees
Specialists
Process and transport workers
Construction, repair and manufacturing workers
Office and customer service staff
Service and sales staff
Agricultural and forestry workers
Other workers

10. Employment COSTS
Typical breakdown of monthly payments made by the employer
for an employee with a monthly salary of 3 000 €
Gross salary
Earnings-related pension insurance
contribution, 18.95 %
Employers' health insurance contribution,
1.08 %
Unemployment insurance, 0.80 %*
Group life assurance payment, on average
0.07 %
Occupational accident insurance, on
average 1.0 %
TOTAL
EMPLOYER
COST
3 657 €

11. SOFTWARE DEVELOPMENT salaries
Annual base salary, Finland, 2013
SOFTWARE DEVELOPMENT ENGINEER - ENTRY 35 116 €
SOFTWARE DEVELOPMENT ENGINEER - EXPERIENCED 45 000 €
SOFTWARE DEVELOPMENT ENGINEER - SENIOR 53 034 €
SOFTWARE DEVELOPMENT MANAGER 66 149 €

12. ICT TALENT in the Helsinki region
Operating costs of an R&D center of 100 employees
0 2000000 4000000 6000000 8000000 10000000
London
Paris
Berlin
Copenhagen
Stockholm
Dublin
Vienna
Amsterdam
Helsinki
Barcelona
Tallinn
Labour costs Property costs

13. “Hiring is never easy but the main reason we chose to set up
operations in Helsinki is the huge talent pool here. We want to
find the best engineers and offer them a great challenge and
purpose while giving them the flexibility and freedom to
individually decide how to find the best solutions”.
- Marc Lamik, Head of Tech Expansion, Zalando
http://www.helsinkibusinesshub.fi/article/e-commerce-giant-hires-passionate-programmers-in-helsinki/

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15. 2. Costs
of setting up
business in Finland

16. SETTING UP a business
Foreign companies are welcome in Finland and the
process of establishing a business is quick and easy.
The incorporation process involves very few
procedures and only takes 2 to 3 weeks.
Foreign companies most commonly conduct
business through a private or public limited liability
company or a Finnish branch office.
2500 €
Minimum capital*
a private limited
company shall have
*The share capital must be paid to the company’s account in full before the company can be entered in the Trade Register.
380 €
Trade Register’s
fee
200 €
Auditor’s fee
to certify the deposit
share capital
1250 €
The cost of outsourcing
the incorporation work
to a law firm

17. TAX rates
In Finland, tax rates for companies are at normal European levels
Personal income tax*
Monthly salary 5 500 € 35.8 %
Monthly salary 3 574 € 29.3 %
Foreign key employee 35 %
Capital income tax 21.6-34 %
Corporate tax 20 %
Property tax 0.86% - 1.80 %
Transfer tax (buyer pays) 4 % real estate
2 % limited liability housing company shares
Value added tax (VAT) 24 % general rate
14 % groceries and restaurants
10 % misc. services and cultural activities

18. Electricity cost for
industrial clients
0.089 € / kWh
Gas cost for
industrial clients
0.036 € / kWh
Expenses for PREMISES
Rents
Other related costs
Prime office rent Rent
Helsinki, central business
district
306 € /m²/year
Rest of Helsinki 222 € /m²/year
Espoo 204 €/m²/year
Vantaa 198 € /m²/year

19. STARTUP spaces
MARIA 0-1
http://maria.io/
MICROSOFT FLUX
http://www.microsoftflux.com/
MOTHERSHIP OF WORK
http://mow.fi/
UMA WORKSPACE
http://www.technopolis.fi/uma/

21. Expenses of
RUNNING A BUSINESS
Accounting and book keeping costs
approximately 50-200 € / hour
Legal services cost approximately
100-300 € / hour
Our network of trusted
service providers is
at your service;
they help international
companies entering the
Helsinki region
partners.helsinkibusinesshub.fi

22. Getting a RESIDENCE PERMIT
Other than Nordic countries and EU / EEA nationals
need to have a residence permit to stay in Finland for
90 days or longer.
The first residence permit must be applied personally at
the Finnish embassy or consulate in the consular
district where the applicant has a legal residence.
The decision to grant a residence permit is made by the
Finnish Immigration Service.
First residence permit 455 €
First residence permit for employed persons or self
employed persons
450-500 €
First residence permit, minor applicant 200-230 €
Renewal of a residence permit card 78 €
Costs

23. Living COSTS
TransportationHousing
Apartment
location
Rent
(€/m2/month)
Price
(€/m2)
Helsinki - prime location 25 6 067
Greater Helsinki 15 3 445
Finland 10 2 152
Helsinki Region Transport (HSL) 30 day ticket
Within one municipality
(Helsinki/Vantaa/Espoo/etc.)
54.70 €
All municipalities (seutulippu) 106.50 €
MOBILE DATA in Finland is the fourth cheapest
out of the 27 EU member countries.
FOOD AND NON-ALCOHOLIC BEVERAGES are 19%
more expensive in Finland than in the 27 EU member
countries on average. Austria, Sweden, Denmark,
Switzerland and Norway are more expensive.

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25. 3. Support
of setting up
a business in Finland
and incentives

26. FUNDING and SUBSIDIES
Foreign-owned companies in Finland are eligible
for a wide range of government and EU
incentives on an equal footing with Finnish-
owned companies.

27. SOURCES of funding and subsidy
R&D&I
INCENTIVES
by Tekes
BUSINESS AID
from ELY Centres
LOANS AND
GUARANTEES
by Finnvera
DEVELOPMENT
RESEARCH FUNDING
Academy of Finland
www.aka.fi/en
EU-funded
SUPPORT from
various sources
CAPITAL INVESTMENTS
from Finnish Industry
Investment
www.industryinvestment.com
www.tekes.fi/en www.ely-keskus.fi/en www.finnvera.fi/eng

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29. 4. Helsinki
How we can help you
Business Hub

30. THE HELSINKI REGION OUTNUMBERS OTHER NORDIC CAPITALS
IN TOTAL AMOUNT OF FDI PROJECTS & CROSS-BORDER
VENTURE AND M&A DEALS
69
89 93 90
78
96
130
145
140
163
56
62
106
81
76
93
87
92
112
106
37
30 30
43
20
2011 2012 2013 2014 2015
Copenhagen Helsinki Oslo Stockholm Tallinn
FDI source: FT fDi Markets / Venture and M&A data source: Bureau van Dijk Zephyr

31. WE WORK CLOSE TO THE BUSINESS IN
KNOWLEDGE INTENSIVE FIELDS
AMOUNT OF COMPANIES IN THE HELSINKI REGION:
Health
481
ICT
1460
SMART &
CLEAN
331

32. AROUND 500 TECH STARTUPS LOCATED
IN THE HELSINKI REGION
Startup definition: Established 2011-16, small or micro sized company.

33. OUR SERVICES ARE FREE OF CHARGE
DEAL FLOW
from Finland
Location for
R&D ACTIVITIES
EXPANDING
BUSINESS
to Nordics, Baltic Sea
Region or Europe
Grow your
INNOVATION-DRIVEN
BUSINESS
in Helsinki
Business opportunity information
Matchmaking
Market informationAccess to deal flow
Soft landing services
Access to financing
Access to reference markets
Export boosting
Wecansupportyouwith
If you are interested in...

34. WE MAKE HELSINKI THE BEST PLACE TO ACCLERATE YOUR BUSINESS.
Picture © Jussi Hellsten / Visit Helsinki
HELSINKI BUSINESS HUB RECEIVES ITS FUNDING FROM PUBLIC SOURCES – FROM THE CITIES OF
HELSINKI, ESPOO, VANTAA AND KAUNIAINEN AS WELL AS THE UUSIMAA REGIONAL COUNCIL. READ MORE FROM www.helsinkibusinesshub.fi
WE
ENABLE
INNOVATION-DRIVEN
COMPANIES TO GROW
AND DEVELOP IN HELSINKI
FOREIGN COMPANIES
TO ESTABLISH THEIR
BUSINESSES IN HELSINKI
WE
WORK
WITH
FOREIGN & LOCAL
COMPANIES
INVESTORS
PUBLIC SECTOR
ACADEMIA
OUR
FOCUS
IS ON
ICT
SMART &
CLEANTECH
HEALTH TECH &
LIFE SCIENCES
OUR
WORK
RESULTS
IN
NEW JOBS IN
THE REGION
NEW INVESTMENTS
IN THE REGION

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