Nikolai 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 decision, including banking and payment rails.
Get a payment license in Finland.
The EU's cheapest licence desk sits in Helsinki: the Financial Supervisory Authority licenses payment institutions and e-money institutions under one act, Maksulaitoslaki 297/2010, with PSD2 capital from €20,000, a three-month decision clock and an application fee of €6,550 - a euro-area home state with a passport into every EEA market, two hours by ferry from our head office.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Finland in brief
One act, a three-month clock, and a fee of €6,550.
Finland put payments and e-money into a single statute, the Payment Institutions Act (Maksulaitoslaki 297/2010), supervised by Finanssivalvonta, the FIN-FSA. Section 27 carries PSD2's capital: €20,000 for money remittance, €50,000 for payment initiation, €125,000 for the account, transfer, card and acquiring services, and €350,000 for an institution issuing e-money. Sections 11 and 12 set the clock - the application must be decided within three months of receipt - and section 26 the safeguarding: customer funds kept apart from the institution's own and deposited with the central bank or a deposit bank, or placed in low-risk, liquid securities. Below the licence there are notification routes: section 7 lets a company provide payment services without a licence up to €3 million a month, section 7a lets an issuer hold up to €5 million in e-money, and section 7b registers account information providers - all for Finland only, all entered in the FIN-FSA register.
The FIN-FSA charges by tariff, and its tariff is the lowest in the EU: €6,550 for a licence application, with €133 an hour above fifty hours of work; €1,850 to register for licence-free services; €2,400 for an EEA branch; €585 for an agent or a cross-border notification. What the licence opens is a euro-area market of five and a half million people who pay by card and mobile almost everywhere, one of the world's most trusted administrations, and the EU passport under sections 41 and 42. Corporate tax is a flat 20%, VAT 25.5% with payment services exempt. The FIN-FSA is careful rather than fast - it reads the business plan as a supervisor and tests management thoroughly - and Helsinki is eighty kilometres from our Tallinn head office. We build the file there, in Finnish, English and Russian.
The FIN-FSA licenses payment institutions and e-money issuers under one act, Maksulaitoslaki 297/2010. Capital per section 27: €20k / €50k / €125k, EMI €350k. Safeguarding by segregation or low-risk securities (26 §). Decision three months from receipt (11-12 §§); fee €6,550.
Notification routes: payments ≤ €3M a month (7 §), e-money ≤ €5M (7a §), AIS (7b §), Finland only. Euro area, 5.5 million people, EU passport. 20% tax, VAT 25.5%. Two hours from our HQ.
The two routes
Payment institution - or e-money institution.
One act, two licences from the same authority: the payment institution for moving money, the e-money institution for also issuing it. Same €6,550 fee, same three-month clock, same passport. We fix the route first, then build once.
PI for moving money - EMI for also issuing it.
01 - PAYMENT INSTITUTION
PI licence · Maksulaitoslaki
The licence for acquiring, transfers, remittance, payment initiation and account information without issuing e-money - capital from €20,000 to €125,000 by section 27, safeguarding under section 26, and the section 7 notification route below €3 million a month for Finland only.
The licence for acquiring, transfers, remittance, payment initiation and account information without issuing e-money - capital from €20,000 to €125,000 by section 27, safeguarding under section 26, and the section 7 notification route below €3 million a month for Finland only.
- ✓Services 1-5: €125,000 initial capital
- ✓Money remittance: €20,000
- ✓Payment initiation: €50,000
- ✓Section 7 notification: ≤ €3M/month · €1,850 · no passport
- ✓Application fee €6,550
- ✓Decision within three months of receipt
02 - E-MONEY INSTITUTION
Wallets and issuance - FIN-FSAEMI licence · Maksulaitoslaki
Everything the payment institution does plus e-money issuance - €350,000 initial capital under section 27, the same safeguarding, fee and clock, and a section 7a notification route below €5 million outstanding.
EMI: issuance plus the full service list; €350,000 capital; section 7a route under €5M; EU passport.
- ✓E-money issuance and redemption
- ✓The full payment-service list
- ✓Initial capital €350,000
- ✓Section 7a notification: ≤ €5M outstanding · Finland only
- ✓Application fee €6,550
- ✓EU passport by notification
Costs and timelines are confirmed for your case before any work begins. Capital sits in section 27 of the Act and the fees on the FIN-FSA tariff of 1 January 2026; the file cost, safeguarding set-up and substance are itemised in your quote.
Why Finland
A euro-area licence at the lowest desk price in the Union.
A statutory clock, a €6,550 fee, notification routes for the first year - and a supervisor whose name is trusted everywhere.
✓
A €6,550 application
The FIN-FSA tariff for a payment-institution licence is €6,550 plus €133 an hour beyond fifty hours - a fraction of the Swedish or Dutch fee for the same EU passport.Lowest desk price in the EU.
✓
Three months, in the act
Sections 11 and 12 require a decision within three months of receipt of the application - a deadline in the statute, not a service promise.In the act, from receipt.
✓
Notification routes
Payment services up to €3 million a month, e-money up to €5 million outstanding and account information all run on notification and registration rather than a licence - a domestic start for a business growing into the full authorisation.≤ €3M/month · e-money ≤ €5M.
✓
A euro-area home state
Euro settlement, SEPA membership, TARGET access through Finnish banks - the treasury plumbing of a licence here is native, not bridged.SEPA and TARGET native.
✓
A trusted administration
Finland's supervisor, courts and registers rank among the world's most reliable - a Finnish licence reads well to banks, investors and enterprise clients.Reads well to banks and investors.
✓
Next door to us
Helsinki is two hours by ferry from our Tallinn head office - the file is built, the meetings attended and the substance staffed from across the gulf.Two hours from our HQ.
How it compares
How Finland differs from other EU routes.
Finland trades a small home market for the cheapest desk and one of the most trusted names in the Union. The honest comparison is below.
Finland vs other jurisdictions
| Feature |  Finland | Other jurisdictions |
|---|---|---|
| Application fee | €6,550 - on the tariff | €10,000 to SEK 405,000 |
| Decision clock | 3 months - in the act | Longer or unpublished |
| Notification routes | ≤ €3M/month · e-money ≤ €5M | Often absent |
| Market | 5.5M, euro area | Larger home markets |
Application fee
Finland€6,550 - on the tariff
Other jurisdictions€10,000 to SEK 405,000
Decision clock
Finland3 months - in the act
Other jurisdictionsLonger or unpublished
Notification routes
Finland≤ €3M/month · e-money ≤ €5M
Other jurisdictionsOften absent
Market
Finland5.5M, euro area
Other jurisdictionsLarger home markets
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Finland | PI / EMI (FIN-FSA) | 20% CIT | €125k PI · €350k EMI · fee €6,550 |
 Sweden | PI / EMI (FI) | 20.6% CIT | €125k PI · €350k EMI · fee SEK 405,000 |
 Estonia | PI / EMI (FSA) | 0% retained / 22% | €125k PI · €350k EMI |
 Lithuania | PI / EMI (Bank of Lithuania) | 17% CIT | €125k PI · €350k EMI |
FinlandLicense typePI / EMI (FIN-FSA)
Taxation20% CIT
Requirements€125k PI · €350k EMI · fee €6,550
SwedenLicense typePI / EMI (FI)
Taxation20.6% CIT
Requirements€125k PI · €350k EMI · fee SEK 405,000
EstoniaLicense typePI / EMI (FSA)
Taxation0% retained / 22%
Requirements€125k PI · €350k EMI
LithuaniaLicense typePI / EMI (Bank of Lithuania)
Taxation17% CIT
Requirements€125k PI · €350k EMI
Before you apply
Requirements for the FIN-FSA licence.Requirements for the licence.
The FIN-FSA publishes its regulations and guidelines, 8/2016 among them, and reads a file as a supervisor. The checklist below is what a passing application contains.
01
A Finnish limited company, an Oy, with its head office in Finland - filing with the FIN-FSA in Finnish, Swedish or, by agreement, English.
02
Initial capital under section 27: €20,000, €50,000 or €125,000 by service, €350,000 for e-money issuance - paid in and evidenced in the application.
03
A board and managing director who pass the FIN-FSA's fitness and propriety assessment, with enough of them resident to run the business from Finland.
04
Owners identified to the ultimate beneficial owner, with source of wealth and funds documented for every qualifying holding of 10% or more.
05
Safeguarding under section 26: funds kept separate and deposited with the central bank or a deposit bank, or invested in low-risk, liquid securities - or insured where the Act allows.
06
A business plan with three years of projections a supervisor can stress - volumes, own funds under method A, B or C or 2% of e-money, liquidity and the capital plan.
07
Governance, internal control, risk management and outsourcing arrangements to FIN-FSA regulations, with ICT risk management under DORA.
08
AML/CFT framework under the Finnish Money Laundering Act: customer due diligence, monitoring, reporting to the Financial Intelligence Unit and a resident compliance function.
09
Professional indemnity insurance where payment initiation or account information services are offered.
10
The application fee - €6,550 for the licence, €1,850 for registration under section 7 - paid on filing.
01
Finnish Oy, head office in Finland.
02
Capital per section 27 - €125k PI, €350k EMI.
03
Board and MD assessed by FIN-FSA.
04
Owners ≥ 10% documented to UBOs.
05
Safeguarding per section 26.
06
Three-year plan a supervisor can stress.
07
Governance, outsourcing, DORA.
08
AML with resident function (FIU).
09
PII for PIS/AIS.
10
Fee €6,550 on filing.
Reflects the Payment Institutions Act 297/2010 (sections 7, 7a, 7b, 11, 12, 26, 27, 41 and 42) and the FIN-FSA processing fee schedule effective 1 January 2026.Maksulaitoslaki 297/2010 (7, 7a, 7b, 11, 12, 26, 27, 41, 42 §§), FIN-FSA tariff 1.1.2026.
How it works
From first call to the FIN-FSA register.
01
Route and strategy
PI, EMI or notification; service list and safeguarding method - the route and budget fixed in writing.PI, EMI or notification - in writing.
02
Finnish company and people
Oy incorporation, capital evidence and the board, managing director and owners the FIN-FSA will assess.Oy, capital, assessed board and owners.
03
The application file
Every section of the FIN-FSA's regulations answered before filing, because the three-month clock runs from receipt of a complete application.Complete starts the three-month clock.
04
FIN-FSA review
Three months by statute - plan on six to nine months end to end including preparation and the management assessment.Three months statutory; 6-9 months total.
05
Licence and launch
Register entry, safeguarding live, passport notifications filed at €585 each - and the reporting calendar running.Registered, safeguarded, passported.
Quick facts
RegulatorFinanssivalvonta
LawMaksulaitoslaki 297/2010
Capital PI€20k · €50k · €125k
Capital EMI€350,000
Application fee€6,550 · +€133/h over 50 h
Decision clock3 months statutory
Notification routes≤ €3M/month · e-money ≤ €5M
Corporate tax20% · VAT 25.5%
Everything that costs money here is published - capital, tariff, clock. The file that matches the FIN-FSA's regulations line by line is the entire game, and our job.
Your Finland desk
Run from our Nordic desk across the gulf.
Prifinance - Nordic & Baltic desk
Tallinn (HQ) · two hours from Helsinki by ferry
Roseni 13, Tallinn
01
Finnish company formation
Oy incorporation, capital to the section 27 figure and the corporate layer the FIN-FSA expects - structured for the licence from day one.Oy, capital, corporate layer.
02
The FIN-FSA file
Business plan, own-funds model, safeguarding design, governance and AML policies to the FIN-FSA's regulations - drafted by us and defended through the question rounds.Regulations answered line by line.
03
Management assessment
Fitness and propriety files for every board member, managing director and qualifying holder, prepared so the people pass with the paper.People pass with the paper.
04
Substance in Finland
Resident management, a compliance function and real premises in Helsinki - the head office the Act requires, staffed and visited from across the gulf.Helsinki management, real premises.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Finland.
A flat 20% corporate rate, VAT exemption for payment services, no withholding on dividends to EU parents and a euro-area cost base.
Corporate tax 20%
One flat rate on a payment institution's fee and margin income - no municipal surcharge, no minimum tax.Flat, no surcharges.
VAT 25.5%
The standard rate since September 2024; payment and e-money services are exempt under the financial-services exemption - the fee mix is mapped before launch.Payments exempt.
No dividend withholding to EU parents
Dividends to qualifying EU and treaty parents leave without withholding in the ordinary case - group structures are modelled with the licence.To EU and treaty parents.
Participation exemption
Dividends between Finnish and EU companies are largely tax-exempt, and gains on qualifying shareholdings can be - Finnish holdings work for Nordic groups.Qualifying dividends.
Key-employee tax
Qualifying foreign experts may pay a flat 32% source tax on salary for up to seven years - relevant when the team relocates with the licence.Up to seven years.
Treaties
Around seventy-five tax treaties and the EU directives - outbound flows are planned, not discovered.Planned, not discovered.
Tax summary
Corporate tax20%
VAT25.5% · payments exempt
Dividend withholding0% to EU/treaty parents
Participation exemptionQualifying dividends and gains
Key-employee tax32% flat, up to 7 years
Tax treaties75+
*Figures as of 2026 per Vero. Key-employee eligibility is assessed per employee.
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 Oy, 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 institution.
Follow Prifinance
Active across our channels.
Finland · FIN-FSA
Launch your payment project in Finland with expert support.
Full-service assistance - from Oy incorporation to the FIN-FSA licence, safeguarding design, passporting and ongoing compliance.
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 Finnish payment licence, answered.
What licence does a payment business need in Finland?+
An authorisation from the FIN-FSA under the Payment Institutions Act 297/2010 - as a payment institution for moving money, or a payment institution issuing e-money for also issuing it. Finland keeps both in one act, so the fee, clock and supervisor are the same.
How much capital is required?+
Section 27 carries PSD2's figures: €20,000 for money remittance only, €50,000 for payment initiation only, €125,000 for the account, transfer, card and acquiring services, and €350,000 for e-money issuance. Ongoing own funds follow method A, B or C, or 2% of outstanding e-money.
What does the application cost?+
The FIN-FSA tariff of 1 January 2026: €6,550 for a licence, plus €133 an hour beyond fifty hours of processing; €320 for other licence decisions; €1,850 to register for licence-free services; €2,400 for an EEA branch; €585 per agent and per cross-border notification. Annual supervision fees follow once licensed.
How long does the FIN-FSA take?+
Sections 11 and 12 require the application to be decided within three months of receipt; an incomplete file restarts the count when completed. With preparation and the management assessment, plan on six to nine months end to end.
How are customer funds protected?+
Under section 26: kept apart from the institution's own funds and deposited with the central bank or a deposit bank, or placed in low-risk, easily realisable securities - with insurance as the alternative the Act permits.
Is there a lighter regime?+
Three notification routes, all for Finland only: section 7 for payment services up to €3 million a month (€50,000 for a natural person), section 7a for e-money up to €5 million outstanding, and section 7b for account information providers. Each is entered in the register; none passports.
Can I passport across the EU?+
Yes - a full licence notifies into every EU and EEA state under sections 41 and 42, for branches, agents and cross-border services, at €585 per notification.
How are payment companies taxed?+
Corporate tax at a flat 20%; 25.5% VAT with exemption for payment services; no withholding on dividends to qualifying EU and treaty parents; a 32% flat key-employee tax for relocating experts.
What substance does the FIN-FSA expect?+
A Finnish Oy run from Finland: a board and managing director who pass the FIN-FSA's assessment, a resident compliance function reporting to the Financial Intelligence Unit, real premises in Helsinki and the licensed activity performed there.
Why Finland rather than Estonia or Lithuania?+
All three are our home region. Estonia's tax on retained profit is zero, Lithuania's desk is the busiest, Finland's is the cheapest with the most trusted name of the three. Groups often license where their customers are and passport to the rest - we sequence them.
Which licence?+
FIN-FSA: PI or e-money PI under 297/2010.
Capital?+
€20k / €50k / €125k; EMI €350k.
Fee?+
€6,550 + €133/h over 50 h.
How long?+
3 months from receipt; 6-9 months total.
Safeguarding?+
Segregation or low-risk securities (26 §).
Lighter regime?+
7 § ≤ €3M/month; 7a § ≤ €5M; 7b § AIS.
Passport?+
Yes - EU/EEA, €585 per notification.
Taxes?+
20%, VAT 25.5%, WHT 0% to EU parents.
Substance?+
Assessed board, resident compliance, Helsinki premises.
vs Estonia / Lithuania?+
Cheapest desk, most trusted name.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
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Google
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Google
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Google
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Google
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Google
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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 or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.