One thousand LLC's set up online

Our e-service for setting up limited-liability companies has been available since December 2012. Many users have responded: by 12 April 2013, the first one thousand LLC's have been set up online. This is about 25 % of all the new companies started up since last December.

The e-service is designed for company founders, company representatives and agents such as accounting and legal service firms. All the information content of the paper-printed incorporation package is available online. It is part of the Business Information System, BIS, which is being designed in cooperation with the National Board of Patents and Registration.

To set up a company online is cheaper

With the guidance given by the e-service, the user is able to submit enough information for registration. The software performs many online checks of identity and legal competence. The only manual check process that remains is the verification by the National Board of Patents and Registration of the proposed company name and line of business.

To log in, and to sign the online Memorandum of Association of the limited-liability company you need a Finnish personal identity code and Web banking identifiers.

The required fee is €50 lower for the registration of the Memorandum: the traditional paper forms are registered against a fee of €380, while the online e-service charge is just €330.

More e-services for LLC's are in the pipeline

Tax Administration continues to work together with the National Board of Patents and Registration to prepare another e-service allowing limited-liability companies to file most changes in their company details online. Such changes comprise, for example, dismissals and appointments of new members of the Board of Directors. Other commonly reported changes are those regarding periods of taxable operation. We plan to launch this e-service in spring 2014.

For more information on online limited-liability companies (in Finnish and Swedish), click http://www.ytj.fi/palvelut/asiointi

For more information, please contact:
Paula Väliverronen (Senior Adviser at the Tax Administration), phone 040 847 8127
Esa Kosonen (Senior Adviser at the National Board of Patents and Registration), phone 040 700 73.