Can you get a residence permit in Finland through your own business?
Your own business is a lawful ground for residence in Finland. Those who have established a toiminimi or an Oy and personally work in their own company may obtain a residence permit in Finland through business provided that the activity generates profit sufficient to support the entrepreneur.
Law Firm "Zahist" supports entrepreneurs at every stage — from choosing the form of business to filing an application in Enter Finland. Our experience shows that clients with a clear business plan and a two-year financial forecast complete Migri’s review significantly faster than those who apply without documentary evidence of profitability.
Who is eligible for a residence permit for an entrepreneur
Migri recognizes as an entrepreneur not every holder of a share in a company, but only those who personally manage the business and work in it in Finland.
This category includes a sole trader with their own toiminimi, a partner in a general partnership, and a general partner in a limited partnership.
It also includes a member of a cooperative with unlimited liability and a person holding a managerial position in an Oy who personally owns at least 30% of the company’s shares or votes.
Why “light entrepreneurs” cannot use this permit
Those who work through an invoicing company (kevytyrittäjä) without their own Business ID do not meet the requirements for an entrepreneur’s permit.
The reason is simple: such a freelancer has no registered own business and therefore no basis for obtaining an entrepreneur’s permit in Finland. Such applicants should consider a residence permit for an employed person instead of an entrepreneurial one.
An alternative for startups: the startup entrepreneur permit
For founders of scalable startups there is a separate, faster route — the startup entrepreneur permit, which requires a positive opinion from Business Finland instead of a review by the Centre for Economic Development.
Income requirements here are different: the applicant must confirm funds of at least EUR 1,210, 1,090 or 1,030 net per month depending on the region of residence.
If funds are sufficient for two years ahead, the first permit may be issued immediately for two years instead of the standard one year.
The main condition: business profitability
Mere ownership of a company does not confer a right to a permit — the applicant must actually work in the business and derive from it income sufficient for self-support.
Profitability is assessed not by Migri directly, but by the Centre for Economic Development (ely-keskus), which analyses the business plan, financial forecast and the company’s current financial indicators.
Two stages of application review: the ELY Centre and Migri
An application for a residence permit in Finland through business undergoes a two-level review, and each stage has its own responsible authority.
- The Centre for Economic Development reviews the business plan, profitability and compliance with general requirements and issues a partial decision.
- If the partial decision is positive, the application is forwarded to Migri for final review of the applicant’s personal documents.
- Migri issues the final decision and, where necessary, invites the applicant to confirm identity at a Finnish mission or a service point.
If the applicant does not meet the general requirements for obtaining a permit, the Centre for Economic Development will not issue a partial decision, and the application will not proceed to Migri for review.
Toiminimi without a Business ID: how to apply from abroad
A Business ID as a sole trader can be obtained only if the place of residence is registered in an EEA country — which cannot be done while remaining abroad.
Therefore applicants who have not yet arrived in Finland apply for a first residence permit without an existing toiminimi, enclosing a full description of the future business and the documents required for its registration.
Documents required to obtain the permit
The list of documents depends on the form of business; however, the core package for most entrepreneurs includes the same key items.
- A valid passport and a colour copy of the personal data page.
- A business plan and a financial forecast for the next two years.
- Proof of financial resources — bank account statements for the last three months.
- Documents on company registration in the Trade Register (for an Oy — the articles of association and the shareholder register).
- Evidence of professional qualifications or work experience in the relevant field.
For an extended permit, the company’s latest financial statements will additionally be required — the profit and loss statement and the balance sheet for the previous reporting period.
For Oy owners it is important to enclose the company’s articles of association and the shareholder register if these documents have not yet been filed with the Trade Register at the time of the first application.
Cost and processing times
The cost of filing an application depends on the method of filing and the type of permit — first or extended.
| Indicator | First permit | Extended permit |
| Cost, online application | EUR 750 | EUR 230 |
| Cost, paper application | EUR 900 | EUR 430 |
| Place of filing | abroad | in Finland |
| Who assesses profitability | Centre for Economic Development | Centre for Economic Development |
Processing time depends on the completeness of documents at both stages: the more detailed the business plan and financial forecast, the fewer additional requests the Centre for Economic Development sends.
Applicants should build a certain time buffer into their relocation schedule, as the total processing period consists of two consecutive stages and does not run in parallel.
Right to work and further prospects
After obtaining the permit, the entrepreneur has no restrictions on the right to work in Finland; however, the main income must come from their own business.
The period of residence on the basis of an entrepreneurial permit counts toward the qualifying period for a permanent residence permit (PRP) in the same way as a period on a type “A” permit for employed persons.
After obtaining the permit, one should promptly complete registration in the DVV system and Kotikunta in order to obtain a personal identity code and access to social and healthcare services.
Family reunification for entrepreneurs
The entrepreneur’s spouse and minor children may apply for family reunification immediately after the entrepreneur obtains a residence permit.
Migri checks whether income from the business covers the needs not only of the entrepreneur but also of family members joining them in Finland.
Our experience shows that entrepreneurs who plan family reunification in advance build an additional profitability margin into the business plan already at the stage of the first application.
What is checked when extending an entrepreneurial permit
An extended permit requires fresh confirmation of profitability: the Centre for Economic Development analyses the company’s financial statements for the previous reporting period.
If the business has undergone material changes — a new field of activity, a change of company form or ownership structure — an updated business plan and financial forecast must be enclosed with the application.
Companies with temporarily lower profit do not receive an automatic refusal: it is important to document the reason for the fluctuations and demonstrate the prospect of restoring profitability.
We recommend preparing updated financial documents at least one month before filing an application for an extended permit in order to have time to correct any discrepancies in the reporting.
Entrepreneurial permit versus employment-based permit: what is the difference
Both permits lead to permanent residence, yet they differ in the criteria for assessing income and in the authority responsible at the first stage of review.
| Criterion | Entrepreneur’s residence permit | Residence permit for an employed person (type “A”) |
| Source of income | profit from one’s own business | salary from the employer |
| First stage of assessment | Centre for Economic Development | employer and the TE Office |
| Minimum income threshold | individual assessment of profitability | from EUR 1,600 per month gross |
| Restrictions on the right to work | none, other than the requirement that the main income come from the business | only within the declared field |
Common mistakes when applying for an entrepreneur’s residence permit
The most frequent mistake is submitting an application with a formal business plan that lacks real profitability calculations, which triggers additional requests from the Centre for Economic Development.
Another common problem is confusion between the status of a “light entrepreneur” and the owner of a toiminimi: without a separate business ID, an application for an entrepreneur’s residence permit is not considered.
Our experience shows that clients who prepare a financial forecast and business plan together with a lawyer before filing the application receive a partial decision from the Centre for Economic Development without additional document requests.
Expert analysis: how to increase the chances of a positive decision
An analysis of our cases shows that partial decisions are more often positive when the business plan contains specific figures for income and expenses rather than general market descriptions.
Another important factor is confirmation of one’s own financial resources for the initial stage of operations, as a business rarely generates stable profit in the first months.
We recommend that entrepreneurs seek advice in advance on the choice of business form — toiminimi or Oy — as each form has its own registration and reporting requirements.
