If you are looking for a country to start a business, then we recommend you to obtain a Startup Visa in Finland.
Finland is an innovative, comfortable, and safe country in the world with an impeccable reputation, ecology, and absence of corruption. Finland has perhaps the best and most accessible infrastructure in the world to live in. Moreover, Finns use English in the business environment.
The startup ecosystem in Finland
Finland is one of the most innovative countries in the world with a small internal market, therefore all services are created mainly for export, and state development institutions are actively helping in this. Exists
The Finnish startup program was launched in 2018 and has already attracted hundreds of entrepreneurs to the country. Each project is carefully selected and tested for usefulness for the Finnish economy: product/service potential, market strategy and growth dynamics of key performance indicators, the volume of investments in the Finnish economy, the number of new jobs created, etc
Finnish Start-up visa
A Startup Visa in Finland is issued for two years with the possibility of further extension. The key to successfully obtaining a residence permit in Finland under a startup program is a well-developed package of documents that are submitted to the expert commission – Business Finland – to verify the project and assign it the status of a startup. The received expert opinion gives the right to further appeal to the Finnish Embassy in your country or the Finnish Police Department for a residence permit card.
Startup Visa in Finland requirements
Finland is a European country where business assessment criteria differ from those adopted in Eastern Europe. It’s good when an entrepreneur who wants to move to Finland has an experienced consultant with knowledge of the specifics of the startup community of the Scandinavian countries in general and the work of Finnish government agencies in particular.
- The age of participants must be over the age of 18;
- The project team must consist of at least two people;
- Have the intention to create a stable company with the prospect of entering the world market;
- Have innovativeness of the idea or method of production, business scalability;
- Own 60% or more of the authorized capital of the company. The founder of the company will be required to contribute 30,000 euros to the share capital.;
- Have availability of sufficient funds in the account for living and registering a business.
The process of obtaining startup status in Finland
The visa application process consists of several steps.
Step 1. Develop a Business Plan
Work out the concept of a new startup, analyze the environment and area of interest. Provide general information about the company – field of activity, capital, plans for development and expansion for the next 2 years, domain/domains of the company. As well as information about the founder and the team – name, position, date of commencement of work, date of birth, citizenship, CV.
Product/service – product readiness stage, sales model, channels, metrics for today, markets, main competitors, competitive advantages of the company’s product (if studied).
Financial data – sources and structure of the company’s income and expenses, growth rates of sales/expenses (expected / real). The applicant must have his/her funds for the development of the company, the size of which depends on the area of the startup and the number of people receiving a residence permit for this startup. If the idea is good, then there is co-financing of up to 200,000 euros.
Step 2. Collect a package of documents for a Startup Visa to Finland
1) The financial plan of the company for 2 years with the development of a business model, a model of audience growth, income, and expenses of the company.
2) A pitch deck is a verbal and graphical presentation of a business plan. Presentation of a project/idea in simple terms. It includes a presentation of the new company concept, market research, description of the competitive advantages and strengths of the team, product description and positioning, business model, and constraints.
3) Company questionnaire. It is a detailed and comprehensive brief about the company and its beneficiaries, allowing you to study and understand the viability of a startup and its market prospects.
4) Minutes of meetings of the company, explanations to documents.
Step 3. Documents for granting a residence permit for a startup entrepreneur are submitted in two stages:
- First, you need to get approval for your startup project from Business Finland;
- Then you need to apply for a residence permit.
- After you should personally visit the Finnish representation or the service point of the Migration Service to verify your identity.
When you receive a positive opinion from Business Finland, you can apply to the Immigration Service to grant you a residence permit for a startup entrepreneur. The opinion issued by Business Finland is valid for two months. Attach it to the package of documents that you will submit to the Migration Agency.
Step 4. Obtain a residence permit in Finland
You need to personally contact the Embassy of Finland to demonstrate the original documents (passport, diploma, certificate, etc.). After 1-2 months, contact the Finnish Embassy in your country or the Finnish Migration Service (if the application was already in Finland) to obtain a residence permit.
The personal account for one applicant must have 1300 euros at the rate of one month * for 6 months, if the documents are submitted for the spouse + 700 euros * for 6 months, for the child + 500 euros * for 6 months.
The Finnish residence permit is given for 2 years with the possibility of extending up to 4 years (depending on the profile of the applicant and his financial security).
