Finnish Startup Permit

 

Build your startup in Finland

The Finnish Startup Permit makes it possible for international growth entrepreneurs to build a startup company in Finland and to become part of Finland's vibrant startup ecosystem. The permit is meant for innovative startup founders coming from countries outside the European Union.

Before sending your Startup Permit application to the Finnish Immigration Service, you must get a favorable assessment from Business Finland. Business Finland evaluates whether your business model, team and resources show potential for rapid international growth. After the assessment you will receive an Eligibility Statement to be attached to the Startup Permit application. 

The permit can initially be issued for max. two years, after which it can be renewed. The permit does not involve investments or financial support.

Who can apply?

To be eligible to apply for the Finnish Startup Permit, you should have

• a startup team – at least 2 founders - with versatile expertise planning to move to Finland
• an intention of founding a fast growth company in Finland
• an innovative business plan
• commitment to the business idea and eventually building the company
• significant holding in the company (For example the team applying for the permit, has a holding of not less than 60% of the company.)
• access to sufficient resources and funding for the company's early stage development
• secure financial means for support 

Business Finland's evaluation criteria for the Eligibility Statement

When we evaluate the business plan, the team and the resources, we would like to see that:

• the team understands what need the product or service idea meets 
• the team shares a vision to grow company to reach at least tens of millions revenue at global markets
• the business idea has a competitive advantage 
• the team has identified a potential customer base and earnings model 
• the business model is scalable internationally
• the team has estimated the size and business potential of the target market
• the team has versatile expertise
• the value created in the new company accumulates in the Finnish economy (salaries paid, export revenues) and the company is headquartered in Finland

• a Finnish subsidiary or a branch office of a foreign enterprise
• a company aiming solely to Finnish markets
• a business without an innovative competitive advantage (e.g. restaurant, consulting, import or distribution business or other service business without an innovative business model)

Please check residence permit for entrepreneur. The requirements differ from startup entrepreneur’s residence permit.

How to apply

STEP 1: Eligibility Statement from Business Finland

Before submitting the application to the Finnish Immigration Service, you must ask for an Eligibility Statement from Business Finland. There are no set deadlines for submitting the request.

1. Describe your business plan according the instructions given in the Template for the Eligibility Statement Request (rtf) 
2. Submit your Eligibility Statement Request and other necessary documents to Business Finland by using the secure e-mail service https://secure.businessfinland.fi/startup-permit

STEP 2: Application to the Finnish Immigration Service

If you receive a positive Eligibility Statement from Business Finland, you can submit your application for the Finnish Startup Permit to Finnish Immigration Service. The Eligibility Statement is valid for 2 months. You need to submit the Eligibility Statement as an attachment to your residence permit application.

• More information about applying the residence permit can be found at the Finnish Immigration Service's website.
• Application needs to be submitted in 2 months from the date of signature of the Eligibility Statement. Application can be done in online portal https://enterfinland.fi/eServices
• In the application, you must show sufficient financial resources (at least 1000€ per month) for your own living costs for the time of the residence permit.

STEP 3: Establish a company in Finland

After founding your company in Finland you can benefit from the versatile services of the Finnish startup ecosystem. You can, for example, apply for Business Finland's Tempo funding. The criteria for funding are close to the startup permit criteria, so the application process will be fast and smooth, if there hasn't been any major changes to the team, business plan or resources. To be eligible for Tempo funding, we expect a 30.000€ equity investment by third party or entrepreneurs.

• Read more about Business Finland's Tempo funding for startup companies 
• Your checklist when moving to Finland as a startup entrepreneur: Startup Kit

STEP 4: Renewal of startup permit

If you want to continue living in Finland after your first residence permit expires, you need to apply for an extension. Extended Startup Permit can be applied directly from Finnish Immigration Service. You do not need to apply for a new eligibility statement from Business Finland. Finnish Immigration Service will request statement from Business Finland directly if needed. In case further information is required, you will be contacted.

To be eligible for extension, you need to have a limited liability company up and running in Finland, proceeded with the plans and have capabilities for growing the business internationally. Residence permit can be extended only if you are living in Finland and have travelled abroad less than half of the duration of residence permit.

It is recommended to send the application about 3 months before the residence permit is going to expire.