Finland Startup Visa

Written by Mike Arnold Moderated by Oleksandra Dosii

Mike Arnold

Mike is a freelance writer with eight years of experience and a love for travel, all things business, tabletop games and green tea.

Oleksandra Dosii

Oleksandra is a dedicated marketer with a passion for growing HR-tech products. She believes content marketing is about delivering high-quality content that provides value—not just generating leads. Since 2016, Oleksandra has been involved in tech talent relocation.

Last update: September 13, 2024

Next update: Scheduled for February 1, 2025

Finland is home to over 3,820 startups and scale-ups worth over €48.2 billion in combined enterprise value (Deelroom 2022). While Finland might not be the first country that comes to mind when you think of tech, it boasts a thriving ecosystem with companies like Supercell, Wolt, and Aiven headquartered in the capital.

This makes it a bit of a hidden gem for business success.

If you're an individual, non-EU citizen, or team with a groundbreaking idea, the Finland Startup Visa could be your startup's golden ticket - a visa designed as a residency permit to fast-track your journey to launching a company in their supportive ecosystem.

 

What are the eligibility criteria for the Finland Startup Visa?

The Finnish government is looking for startup founders who own a new company that wants to grow fast or who are about to start a new company.

But the Finland Startup Visa isn't for just anyone; it's for people who have the potential to make a big difference in the world.

The quickest way to see if you might be eligible is to use the Finnish Immigration Service's Application Finder here.

Specifically, you'll need to meet specific criteria:

Team

• At least two founders: Your startup needs at least two founders. Finland encourages teamwork since different members bring different skills and ideas, which can help your company succeed.
• Different skills: Each founder should have different skills and knowledge important for the business, like technology, marketing, money, or operations.
• Move to Finland: Everyone on the team needs to be willing and able to move to Finland to work on the startup.

Business plan

• New ideas: Your business plan needs to demonstrate a new idea that can grow quickly and be successful in other countries. Your product or service should be unique or much better than what's already out there.
• Clear growth strategy: Your business plan should also outline a clear and well-defined strategy for scaling and expanding internationally.

Resources and funding

• Startup funding: You need to prove you have enough money to get your company off the ground. This could be from your own savings, money from family and friends, or investments from others.
• Living expenses: You also need enough money to support yourself in Finland. Your funds should be €1,000 per month (€12,000 per annum).

Significant holding

• Majority ownership: The founders must own at least 60% ownership of the company. This demonstrates that you're serious about your business venture and aligns your interests with its success.

Full-time commitment

• Active involvement: Everyone on the team must work full-time at the company.

General requirements

If you meet the above criteria, you're off to a great start! However, there are a few more general things you'll need to take care of before you apply:

• Travel documents: Make sure you have a valid passport or travel document.
• Criminal records: You'll need to have a clean criminal record, and can't have any bans on entering the Schengen area (which includes Finland).
• Intentions in Finland: You cannot be engaged in any activities that deem you a risk to public safety, health, or Finland's relationship with other countries.

These are just the basics, and there may be other requirements for entry into the country. It's always a good idea to check the latest official requirements before you travel.

What documentation is needed for the Finland Startup Visa?

The process of gathering documentation for this visa is a little different from some other processes - this is because it's split into two parts. Before you apply for your Finnish Startup Visa, you'll need to acquire an Eligibility Statement to confirm your business' potential.

Only then will you have everything you need to apply for your visa and residency in Finland. Here's what you'll need.

For business Finland eligibility statement

To evaluate your potential for business growth in Finland, Business Finland will ask one member of your founding party for:

• A business plan: This should include information on your business idea, target market, competitive advantage, and financial projections.
• A pitch deck (maximum 5-10 slides): A full summary of your business plan.
• Information on your team: Including the percentage of ownership, the role of each founder, and any other planned resources and their competencies.
• Information on your company's current status: Proof of any demos, prototypes, customer contacts, plans for piloting, installed pilots, initial deals, or existing intellectual property.
• A reference (if applicable): If you have a reference in the Finnish startup ecosystem, this could be very helpful for you here. If not, that's okay too.

If your team has already established a company elsewhere, you'll also need to provide proof that the company will be moved to Finland with all intellectual property rights.

For the Startup visa application

Once you've got your Eligibility Statement sorted, all applying founders of your business must be able to provide the following documents on the application for your Startup Visa:

• Valid passport or travel document: Your passport must be valid for at least three months beyond the intended visa expiry date and have at least two blank pages. For a full list of accepted travel documents, check here.
• Business Finland Eligibility Statement: This statement certifies that your startup meets the eligibility criteria and has been approved by Business Finland.
• Colour photograph: One recent colour photograph adheres to the Police specified dimensions and requirements.
• Proof of funds: Documentary evidence (e.g., bank statements) showing you have at least €1,000 per month to support yourself in Finland for at least a year. (Note: If you can prove that you have at least double the required amount, you may be able to extend your application to a two-year visa).
• If you're already in Finland and applying for a first residence permit, fill in and sign.

Remember to double-check the specific document requirements on the official Finland Migration website, as they might vary depending on your circumstances.

All documents must be translated and legalised in Finnish, Swedish or English. These translations should be included, and the original copies not in place of them.

What is the application process for the Finland Startup Visa?

The application process for a Finland Startup Visa can be broken down into a few key parts. We've outlined these steps below, but if you're feeling overwhelmed, it can be a good idea to contact an immigration consultant.

1. Eligibility statement: One team member should fill out the online eligibility statement application form on the Business Finland website.
2. Wait for a decision: Once your eligibility statement has been granted, you have four months to complete the next step.
3. Apply for your Finland Startup visa: Each team member will apply for a residence permit, and attach the eligibility statement. You'll begin the process of application on Enter Finland's online portal, here.
4. Pay the fee: It's recommended you pay online before you submit your application, but if you can't pay here, you can pay when you visit the embassy or service point. The fee rates are €400 online or €480 for the paper application.
5. Visit the Finnish service point: After applying, you'll book an appointment to visit a Finnish embassy, consulate, or service point. Here, you'll prove your identity, show the original documents and get your prints taken. You should bring a passport-style photo.
6. Await your decision: You can check the progress of your application here on the Enter Finland portal or use their processing time checker to get an idea of when you might hear back. You'll be notified if there are any issues with your application or when a decision is made.

What is the valid duration of the Finland Startup Visa?

The Finland Startup Visa lets you stay in Finland for two years. It's important to have enough money saved up to support yourself for the entire two years you'll be there and be able to prove this, as per the visa requirements.

What are the Finland Startup Visa application costs?

If you're applying for the first time, it's cheaper to do it online. The fee for the first permit is €400 if you apply electronically, but it's €480 if you fill out a paper application.

If you need to extend your permit later, the electronic application is still cheaper at €170, compared to €430 for the paper version.

Talk to a visa consultant

The Finland Startup Visa is your launchpad into Finland's ever-growing economy. But let's be honest; the application process and securing approval can an arduous task, especially when trying to build on your idea or venture.

Instead of juggling the responsibilities and tasks, an immigration and visa consultant can guide you through the process from start to finish, allowing you to focus on the more important aspects of your business.

Need visa assistance/immigration advice?

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