ARTICLE · 05 DECEMBER 2003

Doing Business in Finland

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FinlandTax

Article by Lennart Simonsen and Marina Louhija

This article first appeared in the 9th edition of Global Counsel 3000 and is reproduced with the permission of the publisher. For further details please visit www.practicallaw.com/global

LEGAL SYSTEM

1. What is the legal system in your jurisdiction?

Finland has a civil law system. Swedish law and Nordic tradition have influenced statutory law and jurisprudence. EC law is directly applicable in Finland and takes precedence over national legislation. Finland joined the EU in 1995.

FOREIGN INVESTMENT

2. Are there any restrictions on foreign investment (including authorisations required by central or local government)?

Finnish law imposes no general restrictions on foreign investment in Finland. As a rule, shares and assets in Finnish companies can be acquired by foreign entities without the need for approval from Finnish authorities.

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