Traveling to Finland to start a business

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FenixWIn
Posts: 5
Joined: Wed Jun 14, 2017 7:40 am

Traveling to Finland to start a business

Post by FenixWIn » Wed Jun 14, 2017 8:13 am

Hello, thank you in advance for your help and sorry for my English is not very good. I have some doubts about the residence in finland to start a business in Finland.

This is my situation: I am not a citizen of the EU (I am from Colombia) but I have lived in Spain for 10 years, I have a permanent residence card and, I can move throughout the Schengen area for three months (only as a tourist).

Well, I have a business idea that can be good (yes I know everyone says the same thing) but honestly I think it's a potentially good idea.

The problem is that to "validate" the idea and develop the business plan I need resources and advice that unfortunately I can not afford to pay. Moreover for reasons of branding, the Nordic countries are good countries to associate this type of company in their image. In this case the country that attracts me most is Finland (transparency, little fiscal fraud, seriousness, security, etc) so I would like to start my company there.

Unfortunately to be able to reside in Finland as an entrepreneur I need to obtain a residence card for which they demand economically unavoidable requirements, besides, of course the expenses of travel, lodging, food ... etc. Impossible to assume for me.

My main objective is to go to Finnvera. I know they have small loans for small business owners.

If I get the residence permit I would have no problem staying at an immigrant shelter and eating in a social dining room while developing the business plan. But I see it impossible that the embassy will allow me to obtain the residence permit only for an idea.

You think that if I explain my situation to the Finnish embassy in Madrid can they help me in anything?

What do you recommend me to do? What would you do? Is there an agency that can help me? Are there any foreigners who have obtained a loan with Finnvera?

Any suggestion, advice, question or insult is welcome :)

Thank you very much.



Traveling to Finland to start a business

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rinso
Posts: 3677
Joined: Fri Aug 25, 2006 7:22 pm

Re: Traveling to Finland to start a business

Post by rinso » Wed Jun 14, 2017 9:12 am

Let's look at some of your statements:
- I am not a citizen of the EU
- I need resources and advice that unfortunately I can not afford to pay.
- I need to obtain a residence card for which they demand economically unavoidable requirements, besides, of course the expenses of travel, lodging, food ... etc. Impossible to assume for me.
- staying at an immigrant shelter and eating in a social dining room
So you have no opportunity to start your business on your own and be self sufficient.
And as long as this is the case there is no change you'll get a residence permit.
My main objective is to go to Finnvera. I know they have small loans for small business owners.
You need a profitable business to get a residence permit. Without RP you don't get a loan. And if the business is profitable you don't need a loan.
You think that if I explain my situation to the Finnish embassy in Madrid can they help me in anything?
No.
What do you recommend me to do?
Save enough money to start the business before you think of coming here.


FenixWIn
Posts: 5
Joined: Wed Jun 14, 2017 7:40 am

Re: Traveling to Finland to start a business

Post by FenixWIn » Wed Jun 14, 2017 10:57 am

Hi. Thanks for answering.

I just found an interesting interview with to Marjo Ilmari "The woman in charge of disbursing money to Finnish startups": http://www.geektime.com/2015/06/01/welc ... f-is-high/

There she says something that might give me a chance.

If you're not Finnish at all but you have European citizenship can you just move to Finland and start a startup?

If you have European Union citizenship, you can set up your own business in any EU country. In Aalto university and the Startup Sauna, there are really many international teams; There are actually more teams from abroad than from Finland that participate in the acceleration program. If they then decide to launch their startup here, we give them funding. We are willing to finance any successful entrepreneurs or great teams.

Do they have to be European?

They can be from any country at all. People who come to work or study in Finland need a residence permit. There have been Russian and even African teams in the Startup Sauna accelerator program.

So if any reader anywhere in the world has a really brilliant startup idea and they love snow and they love saunas and they want to come to Finland, they can come and can apply for TEKES funding?

Yes, they can apply. Of course at that stage they should have their company incorporated, and have their residence permit. When that’s ready and they have a great idea and a great team, we are really willing to fund them.


That is to say a residence permit is necessary but also finance new businesses that are not profitable at the moment.

What I will do is to contact the Finnish embassy in Madrid. I will expose them to my case. My parents are Spanish I do not intend to go to Finland as a parasite. I only need a temporary residence permit to apply for a loan. I know it's almost impossible but I do not lose anything by telling them my case.

By the way the idea is related to video games and e-sports betting. If by chance in this forum there is a millionaire gamer, let me know and we can change the world of video games :D :D

Thank you again for the response. As soon as I receive a response from the embassy I will put it here in case anyone helps.

regards


nosundays
Posts: 41
Joined: Mon May 29, 2017 10:19 am

Re: Traveling to Finland to start a business

Post by nosundays » Thu Jun 15, 2017 9:24 am

Keep in mind that the Government is currently planning to change immigration laws to allow start-up companies/experts to enter country more easily. However, in all probabilities you will still need have finances sorted out before can receive the residence permit.


Upphew
Posts: 9910
Joined: Tue Apr 08, 2008 10:55 pm
Location: Lappeenranta

Re: Traveling to Finland to start a business

Post by Upphew » Thu Jun 15, 2017 11:23 am

FenixWIn wrote:By the way the idea is related to video games and e-sports betting. If by chance in this forum there is a millionaire gamer, let me know and we can change the world of video games :D :D

Thank you again for the response. As soon as I receive a response from the embassy I will put it here in case anyone helps.

regards
Gambling, just like booze, is monopoly in Finland. You would have to get veikkaus.fi on board if you would operate here. Good luck with getting governmental monopoly to do business with startup that doesn't even exist yet.
http://google.com http://translate.google.com http://urbandictionary.com
Visa is for visiting, Residence Permit for residing.


Rosamunda
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Joined: Fri Jan 02, 2004 12:07 am

Re: Traveling to Finland to start a business

Post by Rosamunda » Thu Jun 15, 2017 11:37 pm

You do not have to be resident in Finland to set up a company here (but it is easier if you do have permanent residency in the EEA/EU). In other words, you can establish a company in Finland from Spain (online company registration). Is there are reason why you need to be resident here, given that your business idea is online?

I guess I don't get why you have to move here...


FenixWIn
Posts: 5
Joined: Wed Jun 14, 2017 7:40 am

Re: Traveling to Finland to start a business

Post by FenixWIn » Mon Jun 19, 2017 10:36 am

nosundays wrote:Keep in mind that the Government is currently planning to change immigration laws to allow start-up companies/experts to enter country more easily. However, in all probabilities you will still need have finances sorted out before can receive the residence permit.
thanks for the info. I've sent an email to the embassy to see what they tell me.
Upphew wrote:Gambling, just like booze, is monopoly in Finland. You would have to get veikkaus.fi on board if you would operate here. Good luck with getting governmental monopoly to do business with startup that doesn't even exist yet..
Well they're not really gambling. It's a little hard to explain. Although of course I must wait for the answer. It may be impossible just as you say.
Rosamunda wrote: You do not have to be resident in Finland to set up a company here (but it is easier if you do have permanent residency in the EEA/EU). In other words, you can establish a company in Finland from Spain (online company registration). Is there are reason why you need to be resident here, given that your business idea is online?

I guess I don't get why you have to move here...
Yes I must be in Finland. This type of idea needs hardware to store data and Finland is one of the best places for this. In addition the Internet speed in Finland almost doubles on average to the Spanish. On the other hand Finland is a world power in the video game industry. Another reason is investinfinland.fi amazing government agency that helps you to set up the company.

And last but not least: Financing. In Finland it is easier obtaining financing...

Obviously if after investigating I can not access a residence permit and the requirements for funding are impossible unfortunately I will not be able to go to Finland.

But of course it is the country with which I most want to work.

PS: Yes if I had financing in Spain I would not have to look for other countries. But here it is impossible to get money from state banks or agencies.

Thank you all for the answers.


Upphew
Posts: 9910
Joined: Tue Apr 08, 2008 10:55 pm
Location: Lappeenranta

Re: Traveling to Finland to start a business

Post by Upphew » Mon Jun 19, 2017 12:57 pm

FenixWIn wrote:
Upphew wrote:Gambling, just like booze, is monopoly in Finland. You would have to get veikkaus.fi on board if you would operate here. Good luck with getting governmental monopoly to do business with startup that doesn't even exist yet..
Well they're not really gambling. It's a little hard to explain. Although of course I must wait for the answer. It may be impossible just as you say.
Just remember that you should be able to explain your plan to investors. You should check Lotteries Act, it doesn't have latest amendments translated in English, but even that should give you something to check against if your business plan is feasible.
http://google.com http://translate.google.com http://urbandictionary.com
Visa is for visiting, Residence Permit for residing.


FenixWIn
Posts: 5
Joined: Wed Jun 14, 2017 7:40 am

Re: Traveling to Finland to start a business

Post by FenixWIn » Tue Jun 20, 2017 4:19 pm

Upphew wrote:
FenixWIn wrote:
Upphew wrote:Gambling, just like booze, is monopoly in Finland. You would have to get veikkaus.fi on board if you would operate here. Good luck with getting governmental monopoly to do business with startup that doesn't even exist yet..
Well they're not really gambling. It's a little hard to explain. Although of course I must wait for the answer. It may be impossible just as you say.
Just remember that you should be able to explain your plan to investors. You should check Lotteries Act, it doesn't have latest amendments translated in English, but even that should give you something to check against if your business plan is feasible.
Hello, thanks for the answer.

Actually as I said it's not just gambling It is an adaptable business. It can be operated from Finland but not serve within Finland.

As a last resort if the situation requires it, the betting part can be eliminated. Although that would be a last option. I'm waiting for the answer from investinfinland. There is some hope.


FenixWIn
Posts: 5
Joined: Wed Jun 14, 2017 7:40 am

Re: Traveling to Finland to start a business

Post by FenixWIn » Fri Jun 30, 2017 11:28 am

Hi, I update.

Unfortunately in this situation it is impossible to get any help. It just is not worth wasting time.

I sent mail to Finnvera... in Finnvera I was sent to investinfinland.fi from there I was sent to Yrityssuomi... LOL

None of them helps new entrepreneurs at all. If someone is in the same situation... It is best to get money on your own.

Unfortunately I do not think I will start the company in Finland.

A greeting to all and thanks for the answers.


Upphew
Posts: 9910
Joined: Tue Apr 08, 2008 10:55 pm
Location: Lappeenranta

Re: Traveling to Finland to start a business

Post by Upphew » Fri Jun 30, 2017 11:41 am

Let me guess? You didn't have proper business plan. One that would get investors interested.
http://google.com http://translate.google.com http://urbandictionary.com
Visa is for visiting, Residence Permit for residing.


JuhlaMokka
Posts: 28
Joined: Fri Apr 28, 2017 10:29 am

Re: Traveling to Finland to start a business

Post by JuhlaMokka » Fri Jun 30, 2017 2:47 pm

FenixWIn wrote:Hi, I update.

Unfortunately in this situation it is impossible to get any help. It just is not worth wasting time.

I sent mail to Finnvera... in Finnvera I was sent to investinfinland.fi from there I was sent to Yrityssuomi... LOL

None of them helps new entrepreneurs at all. If someone is in the same situation... It is best to get money on your own.

Unfortunately I do not think I will start the company in Finland.

A greeting to all and thanks for the answers.
new entrepreneur? From spanish, english....?
Of course no one is interested to give you money, you would never pay them back with such business.


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