tmf-group.comNordics

QuickStart: to Market Entry

Whether entering the market or simplifying operations, we can give you a QuickStart.

Whether entering the Nordics for the first time or simplifying existing operations, we can give you a QuickStart.

International incorporation and structuring: We get you legally set up and structured.

International entity management: We help you stay compliant, manage your risk and stay on the right side of regulators and filing requirements.

Office premises: Whether you need a registered address, a rented office or assistance managing your own premises, we can help.

HR and payroll: We help you to hire the right people, apply and implement international policies in employment contracts and handbooks, and pay your staff in compliance with local law.

Accounting and tax: We take care of local statutory bookkeeping, full consolidated accounts and reporting, and management reporting to relevant local and international standards.

We help you understand the local market

We help keep you stay compliant with local regulations and filings

We handle your accounting and bookkeeping

We help you with local employment contracts, including visas, and get your staff paid on time

We help you set up your company and handle the full process for you

TMF Group has local experts in Norway, Sweden, Denmark and Finland providing accounting, compliance, corporate secretarial and HR and payroll services across the Nordics.

We can get you set up, provide a single point of contact and take care of those ‘non-core’ elements that keep your business moving, while you focus on what you do best: selling your products and services.

By taking the burden of the back office and centralising it through a single provider, we work with you to increase efficiency and help strip out any unnecessary costs.

QuickStart: to Market Entry Nordics has five main elements:

What makes us different? TMF Group is the global expert that understands local needs.

KNOWLEDGE: Based in-country, our independent experts understand the local market and all its associated legal, financial and regulatory compliance requirements.

FLEXIBILITY: We can offer an individual and tailored service that is scalable in line with business needs and is invoiced in whatever currency the client prefers.

CONTROL: Through our worldwide network of wholly-owned offices, we can offer global reporting and one single point of contact to businesses operating across multiple regions.

SPEED: Our local presence helps businesses to take an agile approach and enter new markets more quickly than their competition.

RANGE: We are the only global organisation to offer a complete suite of complementary business solutions.

TMF Group serves clients of all sizes and from all sectors; everyone from a small start-up to a large multinational. We work with more than 40% of the current S&P 500 and Fortune 500.

Thinking of doing business in the Nordics?The challenges ...Lack of local knowledge may result in:

TAX PENALTIES LOST BUSINESS CRIMINAL AND CIVIL LITIGATION

Mixed outlook: Sweden and Norway are gaining momentum while Denmark’s economic growth remains weaker. Finland is still finding it hard to shake off the economic crisis, but the ongoing restructure of the country’s economy should encourage new growth sectors.

Open for business: Like all small and open economies, the Nordics are sensitive to external economic influences, particularly Europe’s current low-growth, low-inflation environment. Lower oil prices will impact on activity in Norway, while developments in the Ukraine and the downturn in the Russian economy are not working in Finland’s favour.

High tax: All Nordic countries have high levels of taxation. Overall tax burdens (as a percentage of GDP) are among the world’s highest, but corporate income tax is on par or lower than other major European counterparts – ranging from 20% (Finland) to 27% (Norway).

... and the opportunitiesGreat reasons to invest in the Nordics

Doing business: It’s easy to do business in the Nordics, with the region boasting stable government and legal systems, efficient processes, strong property rights and contract enforcement. All Nordic countries are among the

most business-friendly in the world according to the World Bank’s Doing Business rankings. Leading the Nordics is Denmark (ranked fourth globally), where you can set up a business in one day and have residence and work permits issued within five weeks.

Transparency: The region has the lowest corruption perception rating in the world, with the Nordics dominating four of the top five positions in the latest global index from Transparency International.

High-tech: The Nordics are world leaders in pursuing new technology and investing in research and development, with Finland leading the charge (according to the latest Global Creativity Index). These sectors continue to push boundaries, invite competitiveness and offer exciting opportunities for foreign investors.

Trade: There are low barriers to free trade and little product market regulation. Nordic countries rate very high in product market freedom according to OECD rankings. They’ve also proven that it’s possible to achieve high levels of economic output while promoting equality and social wellbeing.

Talented workforce: When it comes to talent, a key driver in wealth and progress, Nordic countries are at the top, according to the Global Creativity Index, with Finland and Sweden taking first and second place, Denmark in fourth, and Norway sixth. The workforce is highly-educated and disciplined, with a strong work ethic. The level of spoken English is generally very high.

Quality of life: People in the Nordics enjoy a high standard of living, with high average incomes and net worth, supported by a robust and modern welfare system. Add to that a landscape of world-class cities, rich cultural heritage and breathtaking natural beauty, and there are countless incentives to call the Nordics home.

Meet our Nordics Directors Denmark

Daniel Proychev has been with TMF Group for more than 17 years. He is an experienced accounting and finance professional. Prior to joining the Nordics region, he was instrumental in building the TMF Group offices in Bulgaria (1998-2007) and Croatia (2007-2012). Daniel is currently Regional Director for the Nordics and Managing Director of TMF Group Denmark operations.

Jochem van Rijn is a Dutch commercial lawyer who has resided in the Nordic region for more than 12 years. Before joining TMF Group in 2012 as a Commercial Director for the Nordic region, Jochem acted as Managing Director for the Nordic offices of a competing international service provider. Aside from being responsible for TMF Group’s commercial activities in the Nordics, he is responsible for all legal services in Denmark and he frequently conducts legal courses for the region’s bar associations.

Sweden

Rikard Öberg is a Swedish tax lawyer specialising in indirect taxes. He joined TMF Group in 2005 and assisted in building up the VAT Compliance Service Line based in Brighton, UK. In 2006, he assisted in the incorporation of TMF Group Sweden and today acts as Managing Director of the company. Rikard has vast experience in dealing with international taxation matters and the challenges facing international companies when establishing a presence in Sweden.

Finland

Natalia Orlova, Director of Client Services, joined TMF Group Russia in April 2011 as a deputy chief accountant. She was promoted to account manager in 2012, before taking on her current role in 2014. Prior to joining TMF Group, Natalia worked as a chief accountant for seven years in different spheres. She holds a master’s degree in accounting and audit, as well as the title of Accountant Professional. By pursuing several trainings and courses, Natalia has further developed her skills in international accounting and taxation.

Norway

Ole Hallvard Haugen is a Chartered Accountant and tax consultant. Specialising in tax and business advice for medium-sized companies, Ole Hallvard has held the role of Managing Director in Norway since the merger of Accepta AS and TMF Group in December 2013. Prior to working for group, Ole Hallvard was an audit partner of PwC in Norway.

Whilst we have taken reasonable steps to provide accurate and up to date information in this publication, we do not give any warranties or representations, whether express or implied, in this respect. The information is subject to change without notice. The information contained in this publication is subject to changes in (tax) laws in different jurisdictions worldwide. None of the information contained in this publication constitutes an offer or solicitation for business, a recommendation with respect to our services, a recommendation to engage in any transaction or to engage us as a legal, tax, financial, investment or accounting advisor. No action should be taken on the basis of this information without first seeking independent professional advice. We shall not be liable for any loss or damage whatsoever arising as a result of your use of or reliance on the information contained herein. This is a publication of TMF Group B.V., P.O. Box 23393, 1100 DW Amsterdam, the Netherlands (contact@tmf-group.com). TMF Group B.V. is part of TMF Group, consisting of a number of companies worldwide. Any group company is not a registered agent of another group company. A full list of the names, addresses and details of the regulatory status of the companies are available on our website: www.tmf-group.com.

© February 2015 TMF Group B.V.

TMF Denmark A/SBredgade 6, 1st floor, 1260 Copenhagen, DenmarkT. +45 58 59 59 18Denmark@tmf-group.com

TMF Finland OyErottajankatu 9 B 3, 4 krs. 00130 Helsinki, Finland T. +358 9 315 89 000Finland@tmf-group.com

TMF Norway A/S Torgeir Vraasplass 4, 3044 Drammen, NorwayT. +47 22 86 2200

Tollbugata 27, 0157 Oslo, Norway T. +47 22 86 23 50Office.norway@tmf-group.com

TMF Sweden ABSergels Torg 12, 111 57 Stockholm, Sweden T. +46 8 55 11 28 80Sweden@tmf-group.com

tmf-group.com