Estonia vs Finland

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00:20 Intro
-Estonia and Finland are two countries in northern Europe with many similarities, but also many differences.
-They both offer high quality of life and great opportunities for job seekers and entrepreneurs. They also share a number of cultural and historic elements, and even a pretty similar language.
-However, they share important differences in many aspects, such as taxes, residence permits and ease of doing business.
-Let’s compare them in terms of: job market, cost of living, real estate, visas and residence permits, taxes, weather and climate, entertainment, language.

01:20
-Northern Europe, Baltic sea
-Finland is a much larger country, in territory and population
-Both countries are full EU members, euro currency.
-Estonia was occupied by the Soviet Union, (Finland was part of the Russian empire way back)this caused a critical difference in how the economy of EE and FI are currently.

01:49 Job Market

-During the past years, unemployment has been higher in Finland than in Estonia, although the gap is narrowing.
-Salaries in Finland are still significantly higher than in Estonia, but the gap is also narrowing. While salaries in Estonia have grown sharply during the past decade. In Finland, the wage growth was quite modest in the past 10 years. Average net salaries are about 2500 euros per month in Helsinki, and half of that in Tallinn.
-It is definitely easier to find a job in Estonia than in Finland if you are an expat. Estonia is doing a lot of efforts to bring foreign talent (low taxes, ease of doing business). Since salaries are lower in Estonia, it also makes more sense for companies to bring foreign talent at a lower overall cost.
-However, if you manage to find a job in Finland, although harder, the pay will also be higher.

03:02 Cost of Living

-While both countries are EU members and use the euro single currency, the cost of living in Estonia and Finland is greatly different.
-Finland is considerably more expensive than Estonia. That is the case in every aspect of the cost of living. Real estate, groceries, and services. While the differences are not so sharp when you go to the supermarket, the price of housing and any type of service is much higher in Finland.

03:51 Real Estate

-Real estate is probably the aspect with the strongest differences between Estonia and Finland.
-This is especially the case if we compare the capital Helsinki and Tallinn.
-Currently prices per square meter in Helsinki are more than double of what they are in Tallinn.
-Rental yields and growth potential are slightly higher in Tallinn than Helsinki. So if you want to invest in real estate, probably Tallinn is the best choice.

04:43 Visa and Residence Permits

-Visa and residence permit policies in Estonia and Finland are similar and relatively flexible.
-Both countries offer visa options for freelancers and entrepreneurs. And you can also stay in the country for a while after your studies to look for a job.
-Estonia offers a new type of visa for digital nomads. But I consider the residence permit for self-employed persons a better deal (permanent residency and citizenship)

05:41 Taxes

-Taxes are another aspect in which Estonia and Finland are extremely different.
-Corporate taxes in Finland are competitive to those in Estonia, but in Estonia you can defer tax payments, and also get a lower rate if you meet some conditions. So Estonia wins at a corporate level.
-At a personal level Estonia is much more attractive than Finland with a flat tax rate of 20%. In Finland personal income tax is progressive at a national level, and there is also a hefty municipal tax. If you are a high income earner it can go above 50%.

06:21 Weather and Climate

-The weather and climate are similar in Estonia and Finland.
-They are both ranked among the coldest countries in Europe and in the world.
-Most of the Finnish population lives in the South of the country, in which the climate is nearly identical as in Estonia.
-However as you go North in Finland, temperatures are even lower and the climate is subarctic in most of the country.

06:59 Infrastructure

-Infrastructure in Estonia and Finland are excellent in both countries.
-Finland is a highly developed nation for many decades. Considering its low population density, it still has a great railway network, going up North in the country.
-The infrastructure in Estonia has developed immensely since the 1990’s. Since the country is rather small and got EU funds to improve its infrastructure, it was a rather swift process.

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