The University of Helsinki (Finnish: Helsingin yliopisto, Swedish: Helsingfors universitet, Latin: Universitas Helsingiensis) is a university located in Helsinki, Finland since 1829, but was founded in the city of Turku in 1640 as The Royal Academy of Turku, at that time part of the Swedish Empire. It is the oldest and largest university in Finland with the widest range of disciplines available. Around 35,000 students are currently enrolled in the degree programs of the university spread across 11 faculties and 11 research institutes. As of August 1, 2005, the University complies with the standards of the Europe-wide Bologna Process and offers Bachelor, Master, Licenciate, and Doctoral degrees. Admission to degree programmes is usually determined by entrance examinations, in the case of bachelor degrees, and by prior degree results, in the case of master and postgraduate degrees. Entrance is particularly selective (circa 15% of the yearly applicants are admitted). The university is bilingual, with teaching provided both in Finnish and Swedish.