Åland Islands (also known as Landskapet Åland) is a region of Finland with extensive political autonomy. Groups of islands are located (about 6700, inhabited – 60) at the mouth of the Gulf of Bothnia on the northern Baltic coast, between Sweden and mainland Finland. The total area of the islands is 1552.38 km².
The Finnish border with Sweden runs through the extreme western islet called Märket. The Finnish economy is among the top-10 in terms of world indicators. Åland is a part of the eurozone and considered as one of the richest territories of the EU.
The capital is Mariehamn. Population: more than 29.5 thousand. Official language: Swedish.
The islands are connected with mainland Finland by ferry and airlines from Mariehamn.
Setting up a company in Åland will a good idea for those, who want to open a business in northern Europe.
Economy features
If you are planning to register a company in Åland Islands, take a closer look at the most developed sectors of the economy:
- Export;
- Service industry and tourism at seaside resorts;
- Construction of Finnish houses (20% of all companies);
- Аinance, insurance and banking (17% of companies);
- Fishery;
- Husbandry (dairy farming);
- Cultivation of sugar beets, potatoes, wheat, barley, oats and onions;
- Production (pulp and paper industry).
The first two points comprise about a third of all enterprises in the region.
Registration requirements
If you are interested in registering a company in Åland Islands, then you should meet with the following conditions of the regulator:
- 2 directors, one of them should be a resident of Finland or of the EU;
- Minimum 1 shareholder of any nationality;
- The minimum share capital is 2 500 EUR.
Specialists of YB Case will provide support in setting up a company in the Aland Islands remotely one of the following legal forms:
- Tax resident LLC (LLC registration in Åland Islands);
- Bitcoin company (cryptocurrency company);
- Free zone LLC (company registration in the FZ of Finland);
- RO (representative office);
- BO (branch).
Tax rates
According to Protocol 2 to the Treaty on the Accession of Finland to the EU, Åland is exempted from the application of the Community rules for the harmonization of turnover and excise taxes. As a result, there is a tax border between the Åland Islands and the rest of the EU (including mainland Finland). Therefore, import and export goods to and from the Åland Islands must undergo customs clearance. Due to tax restrictions, duty-free purchases are possible at border crossings between neighboring jurisdictions and the Åland Islands.
In Åland, approximately 15% of GDP is obtained through assignments from the Finnish state budget as compensation for customs duties, tax fees, excise taxes that are paid by local residents.
If you are intended to register a Finnish company in Åland, then we recommend you to consider the taxation conditions.
|
Legal Form |
Corporate Tax |
VAT |
|
Tax resident LLC |
20% |
24% |
|
Bitcoin company |
20% |
24% |
|
Free zone LLC |
20% |
24% |
|
RO |
– |
– |
|
BO |
20% |
24% |
Main Banks
Those, who would like to set up a company in Åland Islands remotely can open a corporate account in OP Bank, open an account in Nordea Bank or open an account for a Finnish company in Danske Bank.
YB Case experts will consult you and provide with support at every stage of the company registration.
If you have questions, please contact us using any feedback form.
