Police said the mid-air collision occurred shortly after noon near the town of Kauttua, with the wreckage falling some 700 metres (yards) from the Ohikulkutie road.
According to flight plans, there were two people aboard one helicopter and three in the other, police said, adding that both helicopters were registered outside Finland.
The helicopters were reportedly en route to a hobby aviation event, according to the Pori Aviation Club, Yle News reported.
The National Bureau of Investigation is leading a joint probe with local police, and Finnish and Estonian authorities are cooperating.
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