Finland Startup Visa: Legal Guidence
- Erdinç Karabekir
- Nov 13, 2023
- 6 min read
Updated: Dec 27, 2024
Finland announced in January 2018 its Startup Visa program, allowing entrepreneurs outside the European Union to settle in Finland and relocate their businesses.
A prerequisite for these entrepreneurs is to have an innovative startup with high-speed growth potential on the international stage. This article will provide an overview of the Finnish Startup Visa application requirements and conditions, key considerations during the application process, and general information about the subsequent stages.
What is the Finland Startup Visa?
The Finland Startup Visa is a special residence and work permit program that allows innovative entrepreneurs to establish their own businesses in Finland. This program targets international entrepreneurs with technology and innovation-driven business ideas, providing them access to Finland's advanced ecosystem. The visa enables entrepreneurs to live, work, and grow their businesses in Finland. The primary aim of the Finland Startup Visa is to encourage and support startups that will contribute innovative solutions to the country's economy and compete in the global market.
What Are the Application Requirements for Finland Startup Visa?
Entrepreneurs applying for a Finnish startup visa must first obtain an Positive Eligibility Statement, a acceptance letter provided by Business Finland, to be eligible for residence and work permit card.
Business Finland has six fundamental application conditions that must be met during the evaluation of applications. Failure to meet any of these conditions results in the direct rejection of the application.
1- Team: The applying team must consist of a minimum of two (2) co-founders. Teams with fewer than two co-founders cannot apply. There is no maximum limit for the number of co-founders who can apply, but Business Finland typically considers a usual team size to be up to five co-founders. The team should possess versatile expertise and skills related to the business idea and must be capable of running and developing a startup business.
2- Equity Share: Whether or not the startup receives investment, co-founders applying must hold a minimum of 60% of the existing shares within the business. Applications from co-founders with less than a 60% share will be directly rejected.
3- Full-Time Commitment: Co-founders must commit to working full-time in the current business.
4- Financial Resources: Co-founders must demonstrate that they have sufficient financial resources individually to sustain their lives in Finland, and the company must have enough financial resources to carry out its operations.
5- Intent: Co-founders must prove their genuine intention to establish a company with rapid growth potential.
6- Business Plan: The preparation of a business plan is one of the crucial stages of the Finland Startup Visa application. A business plan that does not meet the application conditions and does not accurately reflect the business can significantly lead to the rejection of the application. Business Finland conducts meticulous evaluation of business plans. Although not mandatory, it is advisable to include a Pitch Deck of approximately 5-10 slides with the application.
What Are the Ineligible Businesses for Finland Startup Visa?
A foreign company's subsidiary or branch in Finland,
A company or startup exclusively targeting the Finnish market,
Businesses without an innovative competitive advantage, such as restaurants, consulting firms, import and distribution businesses, and other service-oriented enterprises.
How Long is the Finnish Startup Visa Granted For?
The Finland Startup Visa is initially granted for one (1) or two (2) years, depending on the financial resources demonstrated at the outset. Once the Business Finland Eligibility Statement is obtained, necessary application documents are prepared, and an application for a residence and work permit card is submitted to the authorized Finnish application authority in the applicant's country of residence.
How to Obtain Finland Citizenship
To qualify for Finland citizenship, applicants must have legally resided in Finland for at least 8 years since 2024 (with new citizenship law), depending on the type of residence permit they hold.
During this period, they must demonstrate integration into Finnish society by proving proficiency in the Finnish or Swedish language and passing a citizenship test. Additionally, applicants must meet financial stability requirements and have a clean criminal record. Finland citizenship is highly valued for its access to world-class social services, education, and healthcare systems.
Finland Permanent Residency Duration for Startup Visa Holders
Obtaining Finland permanent residency is a significant step toward building a stable future in the country. After residing in Finland continuously for four years with a valid residence permit, individuals may apply for a Finland permanent residence card. Applicants must demonstrate a steady income, valid health insurance, and compliance with Finnish laws.
Permanent residency allows individuals to live and work in Finland indefinitely without needing to renew permits frequently. It also serves as a pathway to citizenship, enabling residents to fully integrate into Finnish society while enjoying long-term security and access to Finland's high-quality living standards.
What is the Finland Fast Track Application Program?
In 2022, Maahanmuuttovirasto (the Finnish Immigration Office) announced a program whereby eligible persons can obtain Finnish residence and work permit cards only 14 days after application.
Who is Eligible for the Finland Fast Track Application Program?
Experts,
Startup entrepreneurs,
EU Blue Card holders,
Experts or managers with intra-company transfer residence permits are eligible.
Additionally, spouses and children of the applicants can expedite their residence processes through the fast-track program.
If you are considering applying for the Finland Startup Visa, you should not rush and build your application on solid and realistic foundations. To proceed professionally and without errors during the application, you can contact our team at https://estilegal.com for legal advice provided by our experienced attorneys to maximize your chances of approval.
What Advantages Does the Finland Startup Visa Offer?
Finland, with its advanced technological infrastructure and strong innovation ecosystem, enables startups to grow and scale rapidly. The country’s entrepreneur-friendly visa application process, low operational costs, and robust investor networks make Finland an ideal hub for entrepreneurship.
Moreover, Finland’s strategic location offers startups easy access to European, Asian, and North American markets. Through this visa, entrepreneurs can also benefit from Finland’s high quality of life and excellent work-life balance. In short, the Finland Startup Visa provides comprehensive opportunities and resources for innovative entrepreneurs aiming for global success.
If you are considering applying for the Finnish Startup Permit, it is essential to approach the process thoughtfully and build your application on solid and realistic foundations.
To ensure a professional and error-free application process, you can contact our team. Benefit from the legal consultancy services offered by our experienced attorneys to maximize your chances of approval.
Let Esti Legal's expert immigration attorneys guide you through a smooth and successful Finland Startup Visa application process!
Frequently Asked Questions About the Finland Startup Visa
What are the requirements to apply for the Finland Startup Visa?
To apply for the Finland Startup Visa, you must have an innovative business with international potential. Additionally, the entrepreneur is expected to have sufficient financial resources. Applications with only an idea or in the early stage are not accepted.
Can my family members join me in Finland with the Startup Visa?
Yes, entrepreneurs holding a Finland Startup Visa can bring their spouses and children under 18 to Finland. Residence permits can also be applied for family members, allowing them to benefit from Finland's social and educational opportunities.
How long can I stay in Finland with the Startup Visa?
The Finland Startup Visa is typically granted for an initial period of 1 or 2 years. If your business succeeds and you meet the necessary criteria, this duration can be extended and may eventually lead to permanent residency.
How much capital is required to obtain the Finland Startup Visa?
There is no specific capital requirement for the Finland Startup Visa. However, your business should be sustainable in its early stages and have the potential to generate significant revenue in the future.
What language skills are needed to start a business in Finland?
English is generally sufficient for establishing a business in Finland, as it is widely used in the business community. However, learning local languages (Finnish or Swedish) can help you better integrate with the local market and culture.
Is additional support available for starting a business in Finland after obtaining the Startup Visa?
Yes, the Finnish government and private sector provide various forms of support for startup entrepreneurs. These include mentorship programs, networking events, accelerators, and financial assistance options, all aimed at helping new ventures grow and thrive quickly.
Let Esti Legal's expert immigration attorneys guide you through a smooth and successful Finland Startup Visa application process!
Why Should You Choose Esti Legal for Your Estonia Startup Visa Application?
The immigration lawyers at Esti Legal bring over five years of experience specializing in the Finland Startup Visa and other startup visa programs. During this time, they have played an active role in successfully completing more than 200 applications, providing professional support to entrepreneurs as they establish and grow their businesses.
Our team of experts meticulously manages every stage of the visa application process, offering tailored solutions to meet the unique needs of entrepreneurs. From crafting business plans and gathering required documents to ensuring compliance with local regulations and providing post-incorporation guidance, we are with you every step of the way.
If you’re looking to elevate your business to an international level with the Finland Startup Visa, the Esti Legal team would be delighted to assist you on your journey!
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