Finland hopes to attract foreign startups with new entrepreneurs' residence permit
According to the government, the purpose of the scheme is to try and attract new entrepreneurial activity into the country and to put Finland on a steady footing to compete internationally for innovative growth firms. Applicants wishing to acquire the entrepreneurs’ residence permit will need to get a favourable business assessment from the Business Finland innovation centre. Once the evaluation has been granted, applicants must then file a residence permit application with Migri, which will review issues such as projected income and the general grounds for granting the permit. However, Business Finland cautioned that not just any business idea will receive a favourable assessment. Start-ups will have to show that they have the potential to generate rapid growth in international markets. The start-up residence permit is initially valid for two years, with the option to renew it.
- Yle -