Hello, everyone
I'm preparing for an application for an entrepreneur residence permit.
One of the stuff needed to submit is 'Document concerning assets and other income'.
Major of my cash is invested in a fund that is redeemable at end of February this year.
I've gotten a digital proof of assets of this fund investment. Can I provide it as 'Document concerning assets' to the migri?
And are real estates regarded as assets for this kind of application?
I've searched the migri website and this forum but don't get my answer, so I have to open this thread.
Thank you for your help!
Are fund investments included in the assets for residence permit application?
Are fund investments included in the assets for residence permit application?
- Finland Forum Ad-O-Matic
-
- Posts: 1345
- Joined: Sat Nov 09, 2019 10:43 am
Re: Are fund investments included in the assets for residence permit application?
If you need assets for living expenses before your business generates sufficient profits, then Migri wants to see cash.celavi wrote: ↑Thu Jan 07, 2021 5:05 amI'm preparing for an application for an entrepreneur residence permit.
One of the stuff needed to submit is 'Document concerning assets and other income'.
Major of my cash is invested in a fund that is redeemable at end of February this year.
I've gotten a digital proof of assets of this fund investment. Can I provide it as 'Document concerning assets' to the migri?
And are real estates regarded as assets for this kind of application?
If your business does not yet exist, what are initial profitability and initial investment, and how does the business plan say these will be financed?
Money in any form other than cash is just an additional risk from the point of view of Migri and ELY.
You can mention real estate but it is of little use for anything in your application, if you need money from the funds in your application it would make sense to apply next month after it has been redeemed.
-
- Posts: 4368
- Joined: Thu Aug 29, 2013 1:24 am
Re: Are fund investments included in the assets for residence permit application?
Migri has guidance on this internally. I could not find the latest version with Google online. You can get that one with a freedom of information request to them.celavi wrote: ↑Thu Jan 07, 2021 5:05 amHello, everyone
I'm preparing for an application for an entrepreneur residence permit.
One of the stuff needed to submit is 'Document concerning assets and other income'.
Major of my cash is invested in a fund that is redeemable at end of February this year.
I've gotten a digital proof of assets of this fund investment. Can I provide it as 'Document concerning assets' to the migri?
https://www.eduskunta.fi/fi/vaski/julka ... -62343.pdf
This not in force version any more says that you must be able to turn the assets quickly into cash during the validity period of your residence permit. "Laskennassa hyväksyttävän omaisuuden tulee olla realisoitavissa tarvittaessa nopeasti, jotta ulkomaalainen ei joudu turvautumaan toimeentulotukeen tai vastaavaan muuhun toimeentuloa turvaavaan etuuteen."
Only any rental income from them. "Tästä syystä esimerkiksi ulkomailla olevaa kiinteistöä tai muuta kiinteää omaisuutta ei lähtökohtaisesti voida ottaa huomioon. Toimeentulon lähteenä voidaan kuitenkin ottaa huomioon esimerkiksi ulkomailla olevasta kiinteistöstä tai asuinhuoneistosta saatavat jatkuvat vuokratulot, jos niistä esitetään luotettavaa asiakirjaselvitystä."
-
- Posts: 4368
- Joined: Thu Aug 29, 2013 1:24 am
Re: Are fund investments included in the assets for residence permit application?
Though reading the footnote for entrepreneurs the decision will not be done in Migri. "Jos hakijalle on haettu elinkeinonharjoittajan oleskelulupaa, kuuluu hakijan toimeentulon selvittäminen työvoima- ja elinkeinokeskuksen toimivaltaan (UlkL 84 § 1 mom., 76 § 1 kohta). "betelgeuse wrote: ↑Thu Jan 07, 2021 12:55 pmMigri has guidance on this internally. I could not find the latest version with Google online. You can get that one with a freedom of information request to them.
https://www.eduskunta.fi/fi/vaski/julka ... -62343.pdf
You could just ask from here.
"ELY-keskuksen yrittäjän oleskelulupien palvelunumero
0295 020 980 Sähköposti: [email protected]"
https://www.ely-keskus.fi/tyovoiman-maahanmuutto
-
- Posts: 1345
- Joined: Sat Nov 09, 2019 10:43 am
Re: Are fund investments included in the assets for residence permit application?
I was confusing something when writingbetelgeuse wrote: ↑Thu Jan 07, 2021 1:03 pmThough reading the footnote for entrepreneurs the decision will not be done in Migri. "Jos hakijalle on haettu elinkeinonharjoittajan oleskelulupaa, kuuluu hakijan toimeentulon selvittäminen työvoima- ja elinkeinokeskuksen toimivaltaan (UlkL 84 § 1 mom., 76 § 1 kohta). "betelgeuse wrote: ↑Thu Jan 07, 2021 12:55 pmMigri has guidance on this internally. I could not find the latest version with Google online. You can get that one with a freedom of information request to them.
https://www.eduskunta.fi/fi/vaski/julka ... -62343.pdf
This applies only to the start-up entrepreneur permit, for the normal entrepreneur permit the means of support must be immediately secured from the profits of the business.FinlandGirl wrote: ↑Thu Jan 07, 2021 11:29 amIf you need assets for living expenses before your business generates sufficient profits, then Migri wants to see cash.
Re: Are fund investments included in the assets for residence permit application?
Thank you very much, it's really helpful!FinlandGirl wrote: ↑Thu Jan 07, 2021 11:29 amIf you need assets for living expenses before your business generates sufficient profits, then Migri wants to see cash.celavi wrote: ↑Thu Jan 07, 2021 5:05 amI'm preparing for an application for an entrepreneur residence permit.
One of the stuff needed to submit is 'Document concerning assets and other income'.
Major of my cash is invested in a fund that is redeemable at end of February this year.
I've gotten a digital proof of assets of this fund investment. Can I provide it as 'Document concerning assets' to the migri?
And are real estates regarded as assets for this kind of application?
If your business does not yet exist, what are initial profitability and initial investment, and how does the business plan say these will be financed?
Money in any form other than cash is just an additional risk from the point of view of Migri and ELY.
You can mention real estate but it is of little use for anything in your application, if you need money from the funds in your application it would make sense to apply next month after it has been redeemed.
Re: Are fund investments included in the assets for residence permit application?
Thank you for your detailed information. Very helpful, thanks!betelgeuse wrote: ↑Thu Jan 07, 2021 12:55 pmMigri has guidance on this internally. I could not find the latest version with Google online. You can get that one with a freedom of information request to them.celavi wrote: ↑Thu Jan 07, 2021 5:05 amHello, everyone
I'm preparing for an application for an entrepreneur residence permit.
One of the stuff needed to submit is 'Document concerning assets and other income'.
Major of my cash is invested in a fund that is redeemable at end of February this year.
I've gotten a digital proof of assets of this fund investment. Can I provide it as 'Document concerning assets' to the migri?
https://www.eduskunta.fi/fi/vaski/julka ... -62343.pdf
This not in force version any more says that you must be able to turn the assets quickly into cash during the validity period of your residence permit. "Laskennassa hyväksyttävän omaisuuden tulee olla realisoitavissa tarvittaessa nopeasti, jotta ulkomaalainen ei joudu turvautumaan toimeentulotukeen tai vastaavaan muuhun toimeentuloa turvaavaan etuuteen."
Only any rental income from them. "Tästä syystä esimerkiksi ulkomailla olevaa kiinteistöä tai muuta kiinteää omaisuutta ei lähtökohtaisesti voida ottaa huomioon. Toimeentulon lähteenä voidaan kuitenkin ottaa huomioon esimerkiksi ulkomailla olevasta kiinteistöstä tai asuinhuoneistosta saatavat jatkuvat vuokratulot, jos niistä esitetään luotettavaa asiakirjaselvitystä."
Re: Are fund investments included in the assets for residence permit application?
Thanks for further notice.FinlandGirl wrote: ↑Thu Jan 07, 2021 1:34 pm
I was confusing something when writing
This applies only to the start-up entrepreneur permit, for the normal entrepreneur permit the means of support must be immediately secured from the profits of the business.FinlandGirl wrote: ↑Thu Jan 07, 2021 11:29 amIf you need assets for living expenses before your business generates sufficient profits, then Migri wants to see cash.
In my financial calculation, I put 3,000 euros in my salary and the net income of business is positive. I don't know if it can answer the ELY's request.
-
- Posts: 1345
- Joined: Sat Nov 09, 2019 10:43 am
Re: Are fund investments included in the assets for residence permit application?
1000 Euro per month (after taxes and social security) is what Migri defines as sufficient means of support for a single non-student adult.celavi wrote: ↑Fri Jan 08, 2021 11:57 amThanks for further notice.FinlandGirl wrote: ↑Thu Jan 07, 2021 1:34 pm
I was confusing something when writing
This applies only to the start-up entrepreneur permit, for the normal entrepreneur permit the means of support must be immediately secured from the profits of the business.FinlandGirl wrote: ↑Thu Jan 07, 2021 11:29 amIf you need assets for living expenses before your business generates sufficient profits, then Migri wants to see cash.
In my financial calculation, I put 3,000 euros in my salary and the net income of business is positive. I don't know if it can answer the ELY's request.