The permit is meant for innovative startup founders coming from countries outside the European Union, who want to establish a growth company in Finland. It is issued by the Finnish Immigration Service, but the founders must apply for an Eligibility Statement from Business Finland before submitting the residence permit application.
Business Finland assesses, whether the business model, team and resources shows potential for rapid international growth. After the assessment the applicant will receive an Eligibility Statement to be attached to the Startup Permit application.
“The process is very fast. After receiving all the necessary information from the applicant, we will make the assessment in approximately ten days”,
tells Executive Director Jukka Häyrynen from Business Finland. The Eligibility Statement is valid for 2 months. It does not involve any investments or financial support.
After founding a company in Finland the startup can benefit from the versatile services of the Finnish innovation ecosystem. The company can, for example, apply for Business Finland’s Tempo startup funding (click for link).
The criteria for Tempo 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, Business Finland expects a 30.000€ equity investment by third party or entrepreneurs.
Here are the most important things you need to know about the Startup Residence Permit. More information can be found from the Business Finland websites.