Denmark
France
Georgia
GermanyNikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FIN-FSA authorisation, including banking and payment rails.
Get a forex license in Finland.
A forex or CFD broker in Finland needs one authorisation from the Finnish Financial Supervisory Authority (FIN-FSA) under the Investment Services Act 747/2012 (ISA): €750,000 of initial capital to deal on own account, €150,000 or €75,000 for agency models. The Act gives FIN-FSA six months from a complete file and 12 months from receipt at the outside. A market maker's supervision fee is €8,220 plus 0.3616% of turnover a year. Corporate tax is 20% in 2026, with 18% proposed from tax year 2027. Our Helsinki office builds the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated · Reviewed by the Prifinance team
Finland in brief
The MiFID licence with a long-stop in the statute.
Finland licenses forex and CFD brokerage as investment services: FIN-FSA grants a single investment firm authorisation under the Investment Services Act (sijoituspalvelulaki) 747/2012, the Finnish MiFID II transposition, amended for the IFD by Act 523/2021 of 18 June 2021. There is no forex or CFD category. The authorisation lists the services of ch. 1 s. 15, and foreign-exchange services connected with them are an ancillary service under ch. 2 s. 3(1). Capital comes in the three classes of ch. 6 s. 1: €750,000 for dealing on own account, the class of every market-making CFD broker; €150,000 for a firm that holds client funds; €75,000 for one that holds none. The clock sits in ch. 3 s. 2(1). FIN-FSA decides within six months of receipt, or of the day an incomplete file is completed, and in any case within 12 months of receipt; past that date the applicant may appeal to the Helsinki Administrative Court as against a rejection.
The running cost is written into statute too. Under the Supervision Fees Act 1209/2023, in force since 1 January 2024, a firm in the €750,000 or €150,000 class pays FIN-FSA a basic fee of €8,220 plus 0.3616% of turnover every year, while the €75,000 class pays €1,370 plus 0.113%. Turnover means total income, with trading and FX income counted net. A broker turning over €10 million therefore pays €44,380 before any reduction, and the basic fee is due in full in the year of authorisation, never refunded. Tax is moving. Corporate income tax is 20% in 2026, and Government proposal HE 151/2026 vp would cut it to 18% from tax year 2027. We plan for 9-12 months end to end; our Helsinki office carries the file from company formation to the register entry.
One FIN-FSA investment firm authorisation under ISA 747/2012: capital €750k / €150k / €75k by class, the ESMA retail set, a passport to 30 EEA states. Decision within six months of a complete file, 12 months from receipt at most.
Supervision fee €8,220 + 0.3616% of turnover (€1,370 + 0.113% at €75k). Corporate tax 20% in 2026, 18% proposed from 2027. Filed from our Helsinki office.
Two classes, two fee bands
Own-account dealing or agency: the capital class sets the fee band.
One FIN-FSA authorisation, three capital classes in ISA ch. 6 s. 1 and two bands in the Supervision Fees Act - €8,220 plus 0.3616% of turnover for the €750,000 and €150,000 classes, €1,370 plus 0.113% for the €75,000 class. We set the class with the fee in view.
€750k for the market maker - or €75k-€150k for agency, in two fee bands.
01 - DEALING ON OWN ACCOUNT
The market-maker authorisation
Service 3 of ISA ch. 1 s. 15, dealing on own account in CFDs and FX derivatives: €750,000 initial capital under ch. 6 s. 1(1), fully subscribed when FIN-FSA grants the authorisation, IFR K-factor own funds above that floor, and €8,220 plus 0.3616% of turnover to FIN-FSA from the year of grant.
Service 3 of ISA ch. 1 s. 15, dealing on own account in CFDs and FX derivatives: €750,000 initial capital under ch. 6 s. 1(1), fully subscribed when FIN-FSA grants the authorisation, IFR K-factor own funds above that floor, and €8,220 plus 0.3616% of turnover to FIN-FSA from the year of grant.
- ✓Dealing on own account - service 3
- ✓€750,000 initial capital, ch. 6 s. 1(1)
- ✓Capital fully subscribed at grant
- ✓K-NPR and K-TCD in the own-funds model
- ✓Fee €8,220 + 0.3616% of turnover
- ✓Passport to 30 EEA states
02 - AGENCY · STP
€75k-€150k initial capitalThe agency authorisation
The FIN-FSA authorisation for reception and transmission, execution and advice, with no dealing book. A firm holding client margin sits in the €150,000 class of ch. 6 s. 1(3) and pays the market maker's fee band; only a firm that never holds client funds drops to €75,000 and €1,370 plus 0.113% of turnover, which rules out almost every retail CFD model.
RTO, execution, advice; €150k with client funds pays the market-maker fee; €75k without, at €1,370 + 0.113%.
- ✓RTO, execution, advice - services 1, 2, 5
- ✓€150,000 with client funds, ch. 6 s. 1(3)
- ✓€75,000 without, ch. 6 s. 1(2)
- ✓€1,370 + 0.113% in the €75,000 class
- ✓Market-maker fee band at €150,000
- ✓Services added later by extension
Costs and timelines are confirmed for your case before any work begins. Capital, FIN-FSA's processing fee for the authorisation, the first year's supervision fee, audit and substance costs are itemised in your quote.
Why Finland
Deadlines in the Act, fees in a statute.
Finland puts its decision deadline in the Investment Services Act and its supervision fees in a statute of their own; the price of that predictability is a fee that grows with revenue.
✓
A long-stop on the clock
ISA ch. 3 s. 2(1) gives FIN-FSA six months from a complete file and 12 months from receipt at the very most. Silence beyond that point can be taken to the Helsinki Administrative Court as if it were a refusal.Six months, twelve at most.
✓
Licensed before registration
FIN-FSA may grant the authorisation to a company still being formed (ch. 3 s. 3(2)), and business starts once the Trade Register entry is made. Formation and review run side by side.A company in formation can be licensed.
✓
The compensation fund is heard
Where the firm must join the Investors' Compensation Fund, FIN-FSA asks the Fund for its opinion on the application (ch. 3 s. 1). Government proposal HE 279/2018 vp describes the cover as nine-tenths of an investor's claim against one firm, at most €20,000; we confirm the cover in force before it goes into client terms.FIN-FSA asks for the Fund's opinion.
✓
A fee that follows turnover
FIN-FSA's fee is the warning on this list: on top of the €8,220 basic fee comes 0.3616% of turnover, trading and FX income counted net, so a broker with €10 million of turnover pays €44,380 a year. The basic part is never refunded, even for a part year.€8,220 + 0.3616%; basic part never refunded.
✓
A budget cap on fees
FIN-FSA is funded about 90% by supervision fees, and s. 14 of the Supervision Fees Act makes it cut every fee by the same percentage when income would exceed its budget by more than 5%.Fees cut if income overshoots.
✓
Thirty states from Helsinki
A FIN-FSA authorisation passports into 30 EEA states under MiFID II Art. 34, with FIN-FSA forwarding a services notification within one month. Foreign-exchange services tied to the investment business go on the same authorisation as an ancillary service (ch. 2 s. 3(1)).Passport from Helsinki.
How it compares
How Finland differs from other routes.
Sweden charges SEK 975,000 to apply and taxes at 20.6%; Lithuania taxes at 17%, and Estonia not at all while profit stays in the company. Finland's argument is a decision deadline with a court remedy behind it. The figures, side by side.
Finland vs other jurisdictions
| Feature |  Finland | Other jurisdictions |
|---|---|---|
| Regime | ISA 747/2012 - MiFID II, FIN-FSA | LVM 2007:528 in Sweden · Securities Market Act in Estonia |
| Decision clock | 6 months from a complete file · 12 from receipt at most | 6 months from a complete, paid file in Sweden · 2-6 months in Estonia |
| Annual supervision fee | €8,220 + 0.3616% of turnover | SEK 150,000 minimum in Sweden · capped at 1% of income in Lithuania |
| Corporate tax | 20% (2026) · 18% proposed from 2027 | 20.6% Sweden · 17% Lithuania · 0% retained in Estonia |
Regime
FinlandISA 747/2012 - MiFID II, FIN-FSA
Other jurisdictionsLVM 2007:528 in Sweden · Securities Market Act in Estonia
Decision clock
Finland6 months from a complete file · 12 from receipt at most
Other jurisdictions6 months from a complete, paid file in Sweden · 2-6 months in Estonia
Annual supervision fee
Finland€8,220 + 0.3616% of turnover
Other jurisdictionsSEK 150,000 minimum in Sweden · capped at 1% of income in Lithuania
Corporate tax
Finland20% (2026) · 18% proposed from 2027
Other jurisdictions20.6% Sweden · 17% Lithuania · 0% retained in Estonia
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Finland | FIN-FSA investment firm | 20% CIT (2026) · 18% proposed | IFD €75k-€750k, 12-month long-stop |
 Sweden | Finansinspektionen licence | 20.6% CIT (2026) | SEK 975,000 fee, board of three |
 Estonia | Investment firm - Finantsinspektsioon | 0% · 22% distributed | IFD €75k-€750k, €1,000 fee |
 Lithuania | FBF licence - category A/B/C | 17% CIT (2026) · 17% WHT | €750k / €150k / €75k, €947 levy |
FinlandLicense typeFIN-FSA investment firm
Taxation20% CIT (2026) · 18% proposed
RequirementsIFD €75k-€750k, 12-month long-stop
SwedenLicense typeFinansinspektionen licence
Taxation20.6% CIT (2026)
RequirementsSEK 975,000 fee, board of three
EstoniaLicense typeInvestment firm - Finantsinspektsioon
Taxation0% · 22% distributed
RequirementsIFD €75k-€750k, €1,000 fee
LithuaniaLicense typeFBF licence - category A/B/C
Taxation17% CIT (2026) · 17% WHT
Requirements€750k / €150k / €75k, €947 levy
Europe
Forex licences in neighbouring jurisdictions
Before you apply
Requirements for the FIN-FSA authorisation.Requirements for the licence.
ISA ch. 3 s. 3 lists the conditions: reliable owners, capital, governance, organisation, client assets and conduct. FIN-FSA reads the file against each of them. A file that meets them carries the ten items below.
01
Finnish company - an osakeyhtiö or an SE with its head office in Finland, which FIN-FSA may license while it is still being formed (ch. 3 s. 3(2)).
02
Initial capital - €750,000, €150,000 or €75,000 by class under ch. 6 s. 1, made up of IFR Art. 9 items and fully subscribed at grant.
03
Programme of operations - the services, ancillary services and organisational structure that ch. 3 s. 1 asks for, FX services connected with the investment business included.
04
Reliable owners - every qualifying holder free of a prison sentence in the past five years and of a fine in the past three for a crime showing manifest unsuitability (ch. 3 s. 4).
05
Notified holdings - prior notice to FIN-FSA before acquiring a qualifying holding or crossing 20, 30 or 50% (ch. 6a ss. 1-2).
06
Management - at least two persons who effectively direct the business, of good repute and with the knowledge, skills and time the role needs (MiFID II Art. 9).
07
Governance and capital assessment - ch. 6b arrangements proportionate to the business, plus internal capital and liquidity assessment processes for a firm that is not small and non-interconnected (ch. 6 s. 2a).
08
Client assets - segregation and safeguarding under ISA ch. 9 and MiFID II Art. 16(8)-(10), designed before launch where the model holds client money.
09
Retail CFD conduct - FIN-FSA's 2019 measure built into the platform: 30:1 to 2:1 leverage by asset class, 50% margin close-out, negative balance protection, no bonuses.
10
AML/CFT framework - customer due diligence, monitoring and suspicious-transaction reporting with a named owner, and a rewrite planned for the EU AML Regulation from 10 July 2027.
01
Osakeyhtiö or SE, head office in Finland.
02
Capital by class, subscribed at grant.
03
Programme of operations, ch. 3 s. 1.
04
Owners clean: five and three years.
05
Holdings notified at 20/30/50%.
06
Two directing persons, fit and proper.
07
Governance and capital assessment.
08
Client assets segregated.
09
FIN-FSA CFD measure built in.
10
AML ready for 10 July 2027.
Reflects the Investment Services Act 747/2012 as amended by Act 523/2021, the Supervision Fees Act 1209/2023 and IFR/IFD as of 2026. Act 256/2026, which amends the ISA again, is checked against each file.ISA 747/2012 + Act 523/2021 + fee act 1209/2023 + IFR/IFD, as of 2026.
How it works
From class choice to the FIN-FSA register.
01
Class and services
Own account, client money or neither: the ch. 6 s. 1 class, the services and the fee band, fixed in writing before drafting starts.Class and fee band fixed.
02
Company and capital
Osakeyhtiö formed or in formation, share capital ready to be fully subscribed at grant, owners and managers prepared for FIN-FSA's tests.Formation, capital, people.
03
The application
Programme of operations, ch. 6b governance, client-asset and conduct policies - complete on receipt, so the six months start on the filing date.Complete on receipt.
04
FIN-FSA review
Questions answered by us while FIN-FSA hears the Investors' Compensation Fund; the decision falls within six months of a complete file and 12 at most from receipt.6 months, 12 at most.
05
Authorisation and launch
Trade Register entry, your services shown in FIN-FSA's public register, EEA notifications filed, and the first supervision fee in the year of grant.Register, passport, first fee.
Quick facts
RegulatorFIN-FSA
FrameworkISA 747/2012 · Act 523/2021
Own account€750,000
With client money€150,000
No client money€75,000
Supervision fee€8,220 + 0.3616% · €1,370 + 0.113% at €75k
Statutory clock6 months · 12 at most
Plan for9-12 months end to end
The six months run from a complete file; the 12-month long-stop runs from receipt whatever happens in between. Filing complete keeps the shorter of the two in play.
On the ground in Finland
Run from our Helsinki office.
Prifinance - Finland
Helsinki · Finland
Helsinki, Finland
01
Osakeyhtiö formation
A Finnish limited company built for the authorisation, or a company in formation that FIN-FSA can license before its Trade Register entry under ISA ch. 3 s. 3(2).Licensable while in formation.
02
The FIN-FSA file
Programme of operations, organisational structure and the ch. 6b governance set, drafted by us and defended through FIN-FSA's questions until the decision.Drafted and defended by us.
03
Capital and fee model
IFR own funds, the ISA ch. 6 s. 1 class and the FIN-FSA supervision fee at your projected turnover, modelled before the class is fixed - the €150,000 class pays the same fee rates as the €750,000 class.Class chosen with the fee.
04
Owners and managers
Qualifying holders and the two persons who direct the business, prepared for FIN-FSA's reliability and fitness tests one person at a time.Ready for the reliability test.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Good to know
Taxation of forex brokers in Finland.
Corporate tax is 20% in 2026, and a cut to 18% is on the table as a government proposal. Dividends to foreign owners bear tax at source unless a treaty limits it or the Parent-Subsidiary Directive removes it, and VAT on a broker's own costs stays a cost.
Corporate tax 20%
Finland taxes company profits at 20% in 2026. Government proposal HE 151/2026 vp would apply 18% for the first time in the assessment for tax year 2027; until it is enacted, every model we build uses 20%.18% proposed for 2027.
Losses: 25 years proposed
HE 151/2026 vp would also extend the carry-forward of business losses from 10 to 25 years, for losses of tax year 2026 onward - the years a new broker is most likely to make them.10 years; 25 proposed.
Dividends to foreign owners
Finnish tax at source on dividends is 20% for a corporate shareholder and 30% for an individual under s. 7(1) of the Act on the Taxation of Nonresidents' Income, unless a treaty limits it; nil for a Parent-Subsidiary Directive company holding at least 10% of the capital directly.20% companies, 30% individuals.
VAT 25.5%, finance exempt
Financial services as defined in s. 42 of the Finnish VAT Act are in principle outside VAT, and input VAT on the costs of those sales is not deductible. The standard rate in 2026 is 25.5%.25.5% standard rate.
Employer contributions
Finnish employer contributions for 2026: earnings-related pension (TyEL) at an average 17.10%, health insurance at 1.91%, unemployment insurance at 0.31% of payroll up to €2,509,500 and 1.23% above it.TyEL 17.10% average.
18% at source, proposed
The same proposal, HE 151/2026 vp, would take tax at source on dividends paid to foreign companies from 20% to 18%, in step with the corporate rate.Proposed with the CIT cut.
Tax summary
Corporate tax20% · 2026
Proposed from tax year 202718% · HE 151/2026 vp
Dividends to non-residents20% companies · 30% individuals
VAT25.5% standard · financial services exempt
Loss carry-forward10 years · 25 proposed
*As of 2026 per the Finnish Tax Administration (vero.fi) and Government proposal HE 151/2026 vp. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Finnish osakeyhtiö, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed broker.
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Finland · FIN-FSA
Launch your forex project in Finland with expert support.
Full-service assistance - from osakeyhtiö formation to the FIN-FSA authorisation, Trade Register entry, passporting and ongoing compliance - run through our Helsinki office.
Get a consultation →Free legal opinion
Is Finland the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Finland forex licence, answered.
What licence does a forex broker need in Finland?+
An investment firm authorisation from FIN-FSA under the Investment Services Act 747/2012. Finland has no separate forex or CFD licence: the authorisation lists the services - dealing on own account for a market maker - and FX services connected with them are an ancillary service under ch. 2 s. 3(1).
How much capital does FIN-FSA require?+
€750,000 for dealing on own account, €150,000 for a firm holding client funds and €75,000 for one holding none, under ISA ch. 6 s. 1. The capital counted must be fully subscribed when the authorisation is granted, and IFR K-factor own funds sit above these floors.
How long does FIN-FSA take to decide?+
Six months from receipt, or from the day an incomplete file is completed, and never more than 12 months from receipt (ISA ch. 3 s. 2). If FIN-FSA misses the deadline, the applicant can appeal to the Helsinki Administrative Court as against a rejection. Our own planning figure, preparation included, is 9-12 months end to end.
What does the licence cost each year?+
The Supervision Fees Act 1209/2023 sets €8,220 plus 0.3616% of turnover for the €750,000 and €150,000 classes and €1,370 plus 0.113% for the €75,000 class; at €10 million of turnover that is €44,380. FIN-FSA also charges a processing fee for the authorisation, and we confirm the current figure with FIN-FSA before quoting.
Can the company be licensed before it is registered?+
Yes. ISA ch. 3 s. 3(2) lets FIN-FSA grant the authorisation to a company still being formed, and the firm may start business once it is entered in the Trade Register (ch. 3 s. 8). The share capital counted must be fully subscribed by the time of grant.
What retail CFD rules apply in Finland?+
FIN-FSA's permanent restriction under MiFIR Art. 42, found justified by ESMA on 14 May 2019: leverage from 30:1 on major currency pairs down to 2:1 on crypto, 50% margin close-out, negative balance protection, no bonuses and the standard risk warning. Binary options are banned for retail clients.
How are forex brokers taxed in Finland?+
Corporate income tax is 20% in 2026; Government proposal HE 151/2026 vp would lower it to 18% from tax year 2027, and our models stay on 20% until then. Dividends to foreign companies bear 20% at source unless a treaty limits it or the Parent-Subsidiary Directive removes it.
Do I need a Finnish licence to serve clients in Finland?+
Not if the firm is authorised elsewhere in the EEA: it may serve Finland under the MiFID passport. A branch of an EEA investment firm pays FIN-FSA €2,740 plus 0.1582% of turnover a year, and FIN-FSA's CFD measure still applies to retail clients in Finland.
Finland or Lithuania for a market-making CFD broker?+
Lithuania wins on tax and cover: 17% corporate tax against Finland's 20%, €22,000 of investor cover, a €947 state levy and a regulator that meets applicants before filing. Finland's advantage is the clock - Lithuania's six-month term restarts with each deficiency letter, while the ISA caps FIN-FSA at 12 months from receipt. Both passport into 30 states.
Why Prifinance for Finland?+
We build the Finnish file from our Helsinki office: the osakeyhtiö, a capital and supervision-fee model for your class, the programme of operations and policies FIN-FSA reads, and the answers to its questions. The aim is a file that is complete on receipt, so the six-month clock starts on the day we file.
What licence?+
Investment firm - FIN-FSA.
Capital?+
€750k / €150k / €75k.
How long?+
6 months; 12 at most.
Annual cost?+
€8,220 + 0.3616% of turnover.
Before registration?+
Yes - a company in formation.
Retail rules?+
ESMA set, FIN-FSA measure.
Taxes?+
20%; 18% proposed.
Passport in?+
EEA branch: €2,740 + 0.1582%.
Vs Lithuania?+
Their fee and tax; our long-stop.
Why you?+
Helsinki office, complete file.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Finnish Financial Supervisory Authority (FIN-FSA) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.