Public Business Support and Funding
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STARTING UP A BUSINESS IN FINLAND
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17
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An explanation of the nature and volume of payment
transfers: an account of incoming and outgoing pay-
ments; size of individual payments
A more specific and concrete explanation than the
mission statement of the nature of the company's
business activities, their extent, and the grounds for
using banking services.
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Other company accounts
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An extract from the Articles of Association
A list of shareholders including names, social security
IDs or dates of birth, nationality if not Finnish, and
the percentage of stocks and voting rights of each
shareholder. If there are companies on the sharehold-
ers list, a full description of the group structure in-
cluding company type, company ID number and coun-
try of registration.
It is also necessary to identify the natural persons at
the end of the ownership chain.
For the beneficial owners, who directly or indirectly
through other companies own more than 25% of the
company, a notarized passport copy and a proof of res-
idence (utility bills with home address or equivalent)
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in Latin alphabet is needed.
If a person doesn't have a Finnish social security
number, passport photocopies of bank account users
and proof of residence is needed.
Letter of recommendation from a Finnish company
Certificate of the origin of the assets and foreign bank-
ing connections
If the account opener is unknown, a letter of reference
from another bank considered reliable by the bank
opening the account (not all banks require this).
The required documents and information can be submit-
ted either in Finnish, Swedish or English. The person who
signs an agreement on behalf of a company, association
or foundation must be registered in the trade register as
a representative authorized to sign for it. Likewise, a per-
son granted the right to use an account must be an au-
thorized representative. S/he must also present an identi-
ty document or a passport. When opening bank accounts
for a general or limited partnership, the signature of one
general partner is enough, unless otherwise stated in the
company rules.
NOTE that it is essential to open a corporate bank
account right at the beginning, as the share capital
must be paid at the registration of a public limited
company.View entire presentation