Service limitations

The UKKO Entrepreneur service is suitable for you if:

You have a Finnish sole proprietorship or limited liability company, or
you wish to establish one.
Your company is liable to tax in Finland and is registered in the
Prepayment Register.
Your company invoices in euros, and your business activities include
only sources of income subject to the Business Income Tax Act.
The financial year of your sole proprietorship is the calendar year, i.e. it
ends on 31 December, and the financial year of your limited liability
company ends on the last day of a month.

The UKKO Entrepreneur service is not suitable for you if:

Your company engages in agriculture or forestry, animal breeding,
imports from outside the EU, sales of goods, or activities subject to the
margin scheme.
Your company engages in share, real estate, crypto, or other investment
activities.
Your company conducts business outside Finland, or the company’s
business activities have connections to foreign legislation or taxation.
The company belongs to the One Stop Shop scheme, OSS, or the EU VAT
scheme for small enterprises.

What more specific restrictions apply to the use of the service?

Suitability of cash-basis accounting
The service can only be used if your company’s accounting can be carried out
on a cash basis. This means that the company’s annual turnover must not
exceed EUR 500,000. If this threshold is exceeded, VAT must be reported on an
accrual basis.
Single-entry bookkeeping for sole proprietorship customers
The service provides only single-entry bookkeeping for sole proprietorship
customers. This means that the sole proprietor must be a self-employed
professional and must not have separate business premises, as this would
require double-entry bookkeeping.
No statutory audit obligation
The service is suitable for your company if it is not subject to a statutory audit
obligation. This means that, for two consecutive financial years, the company’s
balance sheet total must not exceed EUR 100,000, its turnover or equivalent
revenue must not exceed EUR 200,000, and the company must not employ
more than three people.
The company may use the service if an auditor has been appointed voluntarily.
Please note that the preparation of any reports potentially required by the
auditor will be charged separately on an hourly basis.
Simple ownership structure
The service is suitable for limited liability companies that have at least one
natural person as an owner who directly, or through a holding company that
they own 100%, owns more than 25% of the company’s shares and/or voting
rights.
The company may have a maximum of five shareholders in total, and all
shareholders must own the company’s shares either directly or through a
holding company that they own 100%.
If the limited liability company is established in connection with registration,
the company may have a maximum of four owners. All shareholders,
including natural persons and holding companies, must be liable to tax in
Finland with regard to dividends and salaries.
Lack of bank connections
Use of the limited liability company service is not possible unless the company
account’s bank transaction data can be connected to the service through
technical interfaces.
Licensed business activities
Companies engaging in licensed business activities are responsible for
obtaining the necessary permits, registrations, or qualifications themselves.
Persons subject to a business prohibition
The service cannot be used if a responsible person is subject to a business
prohibition or acts as the managing director or board member of the customer
company during the business prohibition.
Activities contrary to laws and terms
The service may not be used for illegal business activities, activities contrary to
the terms of use, or otherwise suspicious business activities.