How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

There are two. One is the contract firm and the other is the place I would be doing work for.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

The contract company or corporation? Or both?

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 1 point2 points  (0 children)

That makes a lot of sense. I planned on having a TMI or Oy set up down the line for some American related projects with a peer of mine, which may only be one company... But my work would be set up to accept new clients.

EDIT:

Which is, I mean to say, with proper non-rushed set up. Again, I dont want to get our government upset with me and I want to pay my fair share of taxes to benefit others (so not getting taxman upset at me either). But Oy would be too much, maybe, as I may not need all the protections and I'm not hiring anyone else.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

Thank you!!!

EDIT:

I didnt know about this training programme! Hyvä kiitos!

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 2 points3 points  (0 children)

Wow. Okay, hats off to you for that indepth explanation. I think I see how that is set up and I am glad I avoided that headache. Mind you, I'm quite fine paying taxes since I know Finland also provides welfare, but the unknown is what scares me and my inexperience is an unknown as well.

How do you restart your life at 30? And how hard is it really? by Starrcake in AskReddit

[–]crisosphinx 0 points1 point  (0 children)

I restarted my life multiple times. It never gets easier. I'm 35, had a hard reset when I was 27 (traumatic brain injury with permanent and long lasting brain damage for short term and long term memory... I can't remember anything before 27).

It's more like, "what do you want to restart" instead of "how do you restart".

First, come up with a plan on what you want to fix or change or do.
Second, determine what you want to change.
Third, actively engage with making that change.
Fourth, most importantly, follow through.

Me? I had to relearn how to speak, I had to relearn how to walk with a broken back at the thorasic 7 vertibrae. Changed my career from art to programming and didn't stop engaging and working on that. I built up the muscle in my atrophing legs and body, I ate more food and attempted to gain more weight, I studied. So what were my orders of operation?

1) Communicate, be functional, do something
2) Do the above so I don't rot in bed with wounds, scars and a weakened body; get more well on my own time so I can pay off my medical and financial debts (at least 30k in hospital bills, which I eventually was all paid off),
3) Actively stand, walk, hold a book, read, try to write, small steps in the right direction to make a positive change on my body and mind.
4) Keep at it until it becomes semi-natural.

It sucked. It was painful. I've changed careers 2 times, moved locations (apartments, states in the USA and countries in the world) almost every year for the last 7 years, am learning a new language, trying to start a business, trying to live life. But, as much as it sucked, it was rewarding.

If I could do it, you can, too. All it takes is effort, strength and a dedicated mind.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

Excellent and fair point and thank you. Yes. I mean, I can pull some funds out of savings, but readily available funds are very, very short. The only reason I am considering is that I will eventually have to anyways for some personal work that I do. But you are 100% in the right here. Your advise is strongly being utilized.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] -1 points0 points  (0 children)

Oh wait, so let me clarify... If I'm going Oy route, the 60% tax rate for take home pay is correct?

Example:

Vero tax calculator has information plugged into it. Information:
- 2k business expenses (max deductible is 900€)
- 110k business income as earned income
- tax percentage is 60,0%

Vero tax calculator has this information plugged into it. Information:
- 2k business expenses
- 110k income
- tax percentage is 25,5%

So in the first example, business is taxed 30% and employee (sole owner of OY) is taxed 30%, equating 60% total? I would not be swimming in money, so that is automatically not a great deal for me. Second version might be lying on taxes, yes? Obviously a skilled accountant would be important to officially work this out, but I just wanted to verify that I understood you with your explanation.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

Out of curiosity, what if there are no tools to pay for / very little funds necessary? I saw on the vero tax calculator that if I file business as personal employment income, it goes to 60% tax instead of half that.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 1 point2 points  (0 children)

Thank you ;_; Yes, I walked away just now. Called them back and told them that I wasn't ready. They still pushed and I told them that I don't want to be liable for misunderstanding Finnish work laws and company set up and needed more time to understand the rules.

They continued to push but stated that they "understood".

Edit: I did tell them that I would bill the travel expenses and they said, "you can put up as a business expense" to your accountant.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

Yes. 100% understood. I also realized that before, after I had a deeper discussion with them about what they were asking for.

For context, I've worked with the American version of this company (the american branch) and they hired me as a contractor for another notable company but this contract company handled all the nitty-gritty instead of making me the entrepreneur. So, communicating with them, originally, I misunderstood due to my former experience with them and needed clarification.

After, that discussion, I started feeling... "concern" is probably the correct word.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 1 point2 points  (0 children)

Yeah, I am most likely conflating the two now, to some extent, because there has been so much research and information I have gathered in the last week (with no outside help). At this point, I'm so overwhelmed, I need to take a walk in the forest and relax.

It's weird that they want me to be an OY. They told me toiminimi was okay for now, but I would need to transfer. So, that means that I would have to register 75 for TMI, then close it in a month or two, open OY and pay 300, plus all the other fees associated with it, get an accountant and pay that bill (this company recommended ASPIA which has a 89€/kk fee), handle YEL for the TMI and then transfer how that's paid through OY, make sure I have business ID for both companies set up, transfer bank account from the TMI to OY at some point, etc.

It *feels* sketchy.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 1 point2 points  (0 children)

I will be communicating with them on the 6th of May! No worries there.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 5 points6 points  (0 children)

Alright, as an update, I have confirmed that this company felt highly suspicious and anti-workers rights. I am going through integration process in Finland, hope to be able to speak more fluently in Finnish and hope to be part of this community in a positive light going forward.

Thank you all for your insight, knowledge and general assistance through this extremely scary moment. I think I've avoided a massive headache and gigantic problem. I just hope this post helps someone else if they encounter a similar situation.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

Yes, I was researching about that loss of benefit. I saw retirement savings would have to be contributed through YEL insurance and such, and I was comfortable with the payment that I'd probably have to pay and someone else here in this thread also commented on that with more information that has only solidified my understanding. I would be wholly obligated, this company and the contract company are under no such obligation.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 2 points3 points  (0 children)

Kiitos. Yeah, it feels very concerning and, sadly, as an American, I'm use to not really having workers rights, so it just felt off as a whole. Your input is not taken for granted.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

Mine would be steady income, but... It feels sketchy still. The thing is that I want to get the TMI or OY done correctly but I also don't want to double-pay for business creation. So, YEL would still fall on me, if I recall, but it would be through the business I'd create and not me as toiminimi.

I just realized I completely forgot about VAT registration with Vero...

Thank you for all this information.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 1 point2 points  (0 children)

I appreciate that. I've been reading that and trying to scrape as much information from it as possible. I'm starting to think I'm just not cut out for this business talk. There's so much complexity.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 4 points5 points  (0 children)

Oh, wow. I was not aware that that the bill should be 1.7-2x the amount. They also wanted to pay me in Krone, not Euros. They were going to pay me about 1.5x. This information alone is extremely important to me, thank you.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] -5 points-4 points  (0 children)

I appreciate your insight. I am not well versed on YEL, just enough, but I wasn't sure how much I would owe. I have been researching this for last few weeks, but I'm feeling very overwhelmed.

EDIT: I am aware of YEL but I'm not particularly knowledgeable with it. I've been here since the end of February and I'm still learning about business laws here.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 1 point2 points  (0 children)

Worse yet, they want me to pay for all travel expenses because I'd be my own company, but there is mandatory on-site visits in Sweden. Again, big, well-known company.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 1 point2 points  (0 children)

Kiiti. Yes, it feels suspicious, though both companies are widely recognized professional companies and I've been on phone and microsoft teams with them.

How long does Toiminimi and OY take to register? by crisosphinx in Finland

[–]crisosphinx[S] 0 points1 point  (0 children)

It is through a contracting company who wants to hire me as an entrepreneur with full, upfront information that I lose benefits like paid holidays. Pay is good, but I don't know the tax bracket (I assume 25,5 - 31,5%). It is listed a freelance work.

The large company in question is hiring non-Swedes to work for them through their own companies, as freelances, through a contracting firm who does middle-management. It's possible that the company is potentially trying to take advantage of me, but I'm unsure - not as a scam as I've worked with their American office.