Finland Startup Visa: All You Need to Know

Last update: Feb 13, 2025

Finland provides a conducive business environment, making it an attractive destination for entrepreneurs and investors alike. According to the World Bank’s Ease of Doing Business rankings, Finland consistently ranks high in areas like transparency and starting a business. Finland’s commitment to sustainability and a well-functioning society with strong institutions further strengthens its appeal.

The Finland Startup Visa Program, launched in 2018, streamlines residency for non-EU entrepreneurs with innovative ideas and high-growth potential. It targets founders who are willing to establish their company in Finland. Applicants need a strong business plan, access to sufficient resources and funding for the company’s early-stage development, and secure financial means for personal support. This program grants a 2-year residence permit with renewal possibilities.

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Why Choose Finland

Finland’s Economy: Gradual Recovery Amid Global Challenges

Finland’s economy is emerging from a prolonged recession, with GDP contracting by 0.5% in 2024, but forecasts indicate a slow rebound of 1.1–1.5% growth in 2025, driven by recovering exports and domestic demand. While challenges like high public debt (projected at 85.3% of GDP by 2026) and unemployment (8.3% in 2024) persist, the economy is bolstered by:

• Green transition: Finland leads in decarbonization, with startups like Steady Energy revolutionizing sustainable heating solutions.
• High-tech leadership: A thriving tech sector, with AI, quantum computing, and green energy startups attracting global attention.
• R&D investment: Government grants for sustainable ventures (e.g., €500,000 for cleantech startups) and tax incentives for innovation.

Finland’s Startup Ecosystem: A Global Innovation Hub

Finland’s startup landscape has grown to 4,200+ startups and 13 unicorns as of 2025, supported by:

• Global competitiveness: Ranked #1 in the EU for digital readiness, Finland offers a stable regulatory environment and access to Nordic markets.
• Targeted funding: Business Finland’s R&D grants have increased employment by 15% and turnover by 22% in supported startups.
• Sector specialization: Dominance in AI, quantum computing, and biotech, with startups like QMill and SemiQon advancing cutting-edge technologies.

Startup Support: From Ideation to Scale-Up

Finland’s support infrastructure ensures startups thrive even during economic headwinds:

• Co-working ecosystems: Affordable hubs like Urban Office in Helsinki foster collaboration, with 30+ spaces nationwide.
• Funding access: Grants up to €500,000 for sustainable ventures via Business Finland, alongside private investments (e.g., Onego Bio’s €69M funding for biotech innovation).
• Incubators & accelerators: Programs like Maria 01 (Nordic’s largest startup hub) and Kiuas (deep-tech focus) provide mentorship and networking.

Quality of Life: Balancing Prosperity and Wellbeing

Finland continues to rank #1 in the World Happiness Report (2024), offering:

• Sustainable living: 75% forest coverage, carbon-neutral cities by 2030 goals, and clean energy initiatives.
• Social safety net: Universal healthcare, free education, and unemployment benefits exceeding EU averages.
• Work-life balance: 30+ days of annual leave, gender-neutral parental leave, and flexible remote work policies.

Who Can Apply for a Finland Startup Visa?

Eligibility

The Finland Startup Visa targets innovative and scalable startups. At least two founders with complementary expertise (technical, financial, operational) must plan to relocate to Finland. Each founder must hold at least 60% ownership in the company.

Resources Needed

• Personal Funds: €1,030–€1,210/month (depending on location) to cover living expenses, totaling €12,360–€14,520 annually per founder.
• Business Funding: Proof of early-stage development funding (grants, investments, savings).

Business Plan Requirements

• Innovations distinct from existing global solutions (excluding restaurants and consultancies).
• Demonstrated potential for fast international growth.
• Full-time dedication to the startup in Finland.
• Intent to establish a fast-growing company contributing to Finland’s economy.

Finland Startup Visa Process

Step 1: Obtain an Eligibility Statement from Business Finland

• Process: Submit a business plan, team CVs, and passports via the Enter Finland Platform .
• Documents: Business plan, CVs, and passports.
• Processing Time: 2–3 months due to high demand.
• No Fee: Application remains free.

Step 2: Apply for the Residence Permit

• Process: Each founder submits an individual application upon entering Finland.
• Documents Required:
  • Valid passport (6+ months validity).
  • Business Finland’s Eligibility Statement (≤4 months old).
  • Proof of personal and business funds.
  • CVs and proof of company ownership (share certificates).
• Processing Time: 1–2 months for standard applications; 14 days for fast-track electronic applications (€450 fee).

Step 3: Identity Verification & Biometrics

• To submit original documents and fingerprints, visit a Finnish embassy (abroad) or Finnish Immigration Service office (in Finland).

Step 4: Fast-Track Option

• Electronic applications can be processed in 14 days (vs. standard 1–2 months). Fee: €450 (online) or €520 (paper).

Step 5: D Visa for Immediate Travel

• Apply for a D visa alongside the residence permit to enter Finland immediately after approval.

Key Updates for 2025

• Eligibility Statement Delays: Plan for 2–3 months due to high application volumes.
• Biometric Requirement: Mandatory in-person verification added in 2024.
• Documentation: Include financial forecasts and customer agreements to strengthen applications.
• Work Restrictions: The permit is tied to the startup; other employment requires separate authorization.
• Family Requirements: Additional €520/month per adult and €310–€520/month per child.

Finland’s Required Documents

Mandatory:

• Valid passport + bio page copy.
• Passport-sized photo (Finnish standards).
• Eligibility Statement from Business Finland.
• Proof of legal stay (if applying from a non-home country).

Financial Proof:

• Personal: Bank statements (€12,360 – €14,520/year per founder).
• Business: Funding decisions, investor agreements, or company accounts.

Business Documentation:

• Detailed business plan with market analysis and scalability.
• Shareholder register or ownership certificates.

Post-Approval

• Residence Permit Validity: 2 years, renewable for up to 4 years total if milestones are met.
• Renewal: No new Eligibility Statement required unless requested by authorities.

Establishing a Company in Finland

• Register your company with the Finnish Patent and Registration Office (PRH) within 3 months of arrival.
• Utilize resources like Business Guide for tax registration, VAT compliance, and local market insights.
• Access incubators (e.g., Maria 01) and funding programs (e.g., Business Finland grants up to €500,000).
• Co-working spaces like Urban Office in Helsinki offer networking opportunities.

Renewing Your Startup Permit

• Apply for renewal 3 months before expiration via the Finnish Immigration Service (Migri).
• Submit proof of business continuity (financial statements, customer contracts, revenue reports) and updated personal funds evidence (€12,360 – €14,520/year).
• Duration: Up to 2 years, with a total permit duration of 4 years.

Family Requirements

• Additional monthly income thresholds for family members:
  • 1st Adult: €1,030/month
  • 2nd Adult: €520/month
  • 1st Child: €520/month
  • 2nd Child: €410/month
  • 3rd–5th Children: €310/month

Corporate Tax Rate

• Rate: 20% for both domestic and foreign companies.
• Key Updates:
  • Pillar Two Implementation: OECD guidelines ensure multinational corporations pay a minimum effective tax rate of 15%.
  • Tax Incentives: Credits for R&D investments (up to €500,000 for sustainable ventures) and startup investments.
  • Public Service Broadcasting Tax: Companies with taxable income ≥€50,000 pay €140 annually, plus 0.35% of income exceeding this threshold (capped at €3,000).

Cost of Living in Finland

• Monthly Estimates (Excluding Rent):
  • Household of 4: €3,348–€4,338
  • Single Person: €920–€2,233
• Key Expenses:
  • Groceries: €600–€800 for a household of 4; €200–€300 for a single person.
  • Utilities: €124–€370 for a household of 4; €50–€200 for a single person.
  • Transport: €270–€720 for a household of 4; €28–€270 for a single person.
  • Healthcare: €300–€660 for a household of 4; €20–€30 for a single person.

Budgeting Tips

• Housing: Opt for shared accommodations or suburban areas to reduce rent by 30–50%.
• Groceries: Shop at discount chains (e.g., Lidl) and prioritize seasonal produce.
• Transport: Use bike-sharing (€30–€60/month) or city cards for discounted public transit.

Pathway to Permanent Residency and Citizenship

• Initial Permit: Valid for 2 years, renewable for up to 4 years total if the startup demonstrates growth.
• Permanent Residency: Eligible after 4 years of continuous residence under the Startup Permit.
• Citizenship Application:
  • Residency Requirement: 5 years of continuous residence (exceptions for spouses of Finnish citizens).
  • Language Proficiency: B1-level fluency in Finnish, Swedish, or Sami.
  • Additional Criteria: Clean criminal record and proof of stable income.

Role of Launchroad in The Seccess of Your Startup Visa

LaunchRoad is your trusted partner for starting a business abroad. We guide you in choosing the right country, understanding visa requirements, and getting your startup off the ground. As an experienced startup visa consultant, we offer expert startup visa consultation to help you navigate the complexities of international expansion. Our team provides the support, mentorship, and resources you need to succeed in the global market.

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