Starting a company options: Entrepreneur visa?

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jbraendl
Posts: 2
Joined: Wed Dec 30, 2020 1:52 pm

Starting a company options: Entrepreneur visa?

Post by jbraendl » Wed Dec 30, 2020 11:43 pm

Hi all,

I am looking at starting a limited liability company in Rovaniemi, capitalising on a more affordable car/motor home rental option for travellers, workers and residents.

I believe a Ltd is the best route for scaling upwards and to operate as a seperate legal entity to myself as a sole trader.

My main question is whether I am best off getting a permit from PRH to start a Ltd without having EEA residence status or having my limited share business partner be a co-founder and either start the company and apply for an entrepreneur visa or the company employs me and thus simply apply for a work visa.

What would you all recommend? I see that roughly 2/3 of all entrepreneur permits are rejected. Work permits contrarily seem quite easy with a significantly greater success rate and faster processing time.

I am an Australian, have worked in Rovaniemi for 6 months (visa free for 2 x 3 month periods) and am in the final stages of my LLB.

Any advice would be appreciated! :D



Starting a company options: Entrepreneur visa?

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betelgeuse
Posts: 3828
Joined: Thu Aug 29, 2013 1:24 am

Re: Starting a company options: Entrepreneur visa?

Post by betelgeuse » Thu Dec 31, 2020 1:17 pm

jbraendl wrote:
Wed Dec 30, 2020 11:43 pm
My main question is whether I am best off getting a permit from PRH to start a Ltd without having EEA residence status or having my limited share business partner be a co-founder and either start the company and apply for an entrepreneur visa or the company employs me and thus simply apply for a work visa.
Visas and residence permits are different things. You need the latter.

You only need one person (presumably your business partner) to be EEA resident. This person doesn't need to have any ownership stake.

"If at least one Board member is a resident of the EEA, no permit is needed. In other cases a permit from the PRH is required."

https://www.prh.fi/en/kaupparekisteri/u ... luvat.html

FinlandGirl
Posts: 657
Joined: Sat Nov 09, 2019 10:43 am

Re: Starting a company options: Entrepreneur visa?

Post by FinlandGirl » Thu Dec 31, 2020 3:51 pm

jbraendl wrote:
Wed Dec 30, 2020 11:43 pm
My main question is whether I am best off getting a permit from PRH to start a Ltd without having EEA residence status or having my limited share business partner be a co-founder and either start the company and apply for an entrepreneur visa or the company employs me and thus simply apply for a work visa.
Migri wrote: You are an entrepreneur if you ... personally have at least 30 per cent of the number of votes produced by the company’s shares

betelgeuse
Posts: 3828
Joined: Thu Aug 29, 2013 1:24 am

Re: Starting a company options: Entrepreneur visa?

Post by betelgeuse » Thu Dec 31, 2020 7:31 pm

FinlandGirl wrote:
Thu Dec 31, 2020 3:51 pm
Migri wrote: You are an entrepreneur if you ... personally have at least 30 per cent of the number of votes produced by the company’s shares
You left out the bit about also having to be in a managerial position.

” 9) entrepreneur means a person who is in a managerial position and engages in business activities; (121/2018)”

https://www.finlex.fi/en/laki/kaannokse ... 040301.pdf

jbraendl
Posts: 2
Joined: Wed Dec 30, 2020 1:52 pm

Re: Starting a company options: Entrepreneur visa?

Post by jbraendl » Fri Jan 01, 2021 1:49 pm

Thanks all,

Does anyone have any experience having applied for the entrepreneur visa? Are they typically granted for only a single year at first? I would also hope that the subsequent extended permit criteria is reasonable in terms of initial profitability.

FinlandGirl
Posts: 657
Joined: Sat Nov 09, 2019 10:43 am

Re: Starting a company options: Entrepreneur visa?

Post by FinlandGirl » Fri Jan 01, 2021 5:38 pm

jbraendl wrote:
Fri Jan 01, 2021 1:49 pm
Does anyone have any experience having applied for the entrepreneur visa? Are they typically granted for only a single year at first?
The law says that first fixed-term residence permits are issued for one year, and none of the exceptions applies to normal entrepreneur or employee residence permits (except that it cannot be longer than the validity of your passport).
jbraendl wrote:
Fri Jan 01, 2021 1:49 pm
I would also hope that the subsequent extended permit criteria is reasonable in terms of initial profitability.
The main assessment is before the first permit, it is you who defines the expected initial profitability of your business.
With employment Migri checks whether the actual income matched the information in the first application when deciding on residence permit extensions, I do not know what they check for entrepreneurs.

celavi
Posts: 5
Joined: Sat Dec 19, 2020 1:00 pm

Re: Starting a company options: Entrepreneur visa?

Post by celavi » Wed Jan 06, 2021 12:28 pm

I see that roughly 2/3 of all entrepreneur permits are rejected.
Hi, where did you see the stats? Thanks!

FinlandGirl
Posts: 657
Joined: Sat Nov 09, 2019 10:43 am

Re: Starting a company options: Entrepreneur visa?

Post by FinlandGirl » Thu Jan 07, 2021 12:24 am

celavi wrote:
Wed Jan 06, 2021 12:28 pm
I see that roughly 2/3 of all entrepreneur permits are rejected.
Hi, where did you see the stats? Thanks!
https://tilastot.migri.fi/index.html#de ... /2/10?l=en

celavi
Posts: 5
Joined: Sat Dec 19, 2020 1:00 pm

Re: Starting a company options: Entrepreneur visa?

Post by celavi » Thu Jan 07, 2021 4:35 am

FinlandGirl wrote:
Thu Jan 07, 2021 12:24 am
celavi wrote:
Wed Jan 06, 2021 12:28 pm
I see that roughly 2/3 of all entrepreneur permits are rejected.
Hi, where did you see the stats? Thanks!
https://tilastot.migri.fi/index.html#de ... /2/10?l=en
Thank you! :)


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