Self-employed (tmi) residence permit questions

[vitazzz]

Hello everyone,

Hopefully somebody here could clarify few things for me.

1)There is an official statement on migri.fi: "The profitability of the business is evaluated on the basis of documents such as the company’s business plan, binding preliminary agreements, and financing."

Does the term "financing" mean that I can use personal funds to meet the "profitability" criteria? Let's say I show them a finnish bank account receipt from my account where I have some large sum so that it meets the requirement of 1000e per month for a secure living for at least a year?

2)Another scenario. Let's say I meet the profitability by business operations. what would be the minimum amount that I have to receive by business operations to pay e.g. standard enterpreneur tax so that there will be also 1000e remaining for secure living criteria? probably also I have to add accounting services costs or this is not required for toiminimi?)

Some background info: Non-EU, currently residing on student RP. Toiminimi description: consultancy and development services in e-commerce and website field sold abroad to a single client (preliminary binding agreement is possible). (I guess this sounds not bad to TYE if compare to some trash freelance photography )

[cors187]

You need to set up your business much like your going to sell it, It has a seen value, an investor can see the potential.

Can you keep your promises, how to show an investor on paper that you can keep your promises.

Do you have cash flow and can cash flow continue uninterrupted for a period of time , can you show that on paper.

If you can sell your company on paper then the YTJ people can see the value

[cors187]

Some background info: Non-EU, currently residing on student RP. Toiminimi description:

Im pretty sure that if you apply for a self employed residence permit you switch over to that instead of student RP.

I was under the impression that Non EU students can open TMI without hassle. You should download the applications , notes for TMI. theres information that can be learned from going through the applications in Finland.

[betelgeuse]

Does the term "financing" mean that I can use personal funds to meet the "profitability" criteria? Let's say I show them a finnish bank account receipt from my account where I have some large sum so that it meets the requirement of 1000e per month for a secure living for at least a year?

When you put personal funds to balance sheet, it's a capital injection, not profit. You make profit by having more revenue than costs. If you wan to use your capital to fund a residence permit, you need to incorporate as limited liability company (osakeyhtiö) and apply as an employee of that company (normal employee permit rules apply).

2)Another scenario. Let's say I meet the profitability by business operations. what would be the minimum amount that I have to receive by business operations to pay e.g. standard enterpreneur tax so that there will be also 1000e remaining for secure living criteria?

There's no entrepreneur tax. For sole traders, profit is taxed as personal income so it depends on the size of the income. You can use the vero calculator to estimate taxes.

http://prosentti.vero.fi/VPL2016/Sivut/ ... ieli=en-US

These guidelines apply to self-employed:

http://www.migri.fi/moving_to_finland_t ... equirement

probably also I have to add accounting services costs or this is not required for toiminimi?)

It's not required but it's unlikely you would manage without one.

If you can sell your company on paper then the YTJ people can see the value

YTJ is a database. They don't value companies.

[rinso]

Does the term "financing" mean that I can use personal funds to meet the "profitability" criteria? Let's say I show them a finnish bank account receipt from my account where I have some large sum so that it meets the requirement of 1000e per month for a secure living for at least a year?

This sounds like you try to pull yourself up by your own boot strings. Like Betelgeuse said; a business must show profit, not just an investment.

[cors187]

YTJ is a database. They don't value companies.

Your forum sword never faileth to expose the truth.
It was a convenient link of no consequence.

[cors187]

Financing brings to mind a "legitimate source of money".
It would be pretty certain that the official fact checkers in this case would have definitions of what is considered finance and what is considered "personal loan".

Before i started my Oy business.
I just started calling numbers on the phone.
To be honest maybe my recollection is bad but i started with sites like YTJ.
Then came the phone transfer game where i was transferred to the right department and also given new numbers to call.

After hours of this on a cold rainy day the phone linked to a woman who said .
"This is highly irregular that you got my number as its not listed ".

But she was part of the department that verifies information regarding business plans and individuals data for self employed permits.
I quickly told her my case and within 5 minutes she clarified the situation with self employed data requirements and it seemed impossible for me to show what she thought i needed to show.
Contracts, financing, sustained business plan through startup stage , how my business plan needed to show how i would keep my promises. Not to forget the most important a history of me in this business.
After that she said why am i even bothering. I have RP here already , just start an OY, 3 weeks and your up and running.

Anyway , sometimes finding the right office is all you need.

[betelgeuse]

Before i started my Oy business.
I just started calling numbers on the phone.
To be honest maybe my recollection is bad but i started with sites like YTJ.

Yes OY can be started online through YTJ

But she was part of the department that verifies information regarding business plans and individuals data for self employed permits.
I quickly told her my case and within 5 minutes she clarified the situation with self employed data requirements and it seemed impossible for me to show what she thought i needed to show.
Contracts, financing, sustained business plan through startup stage , how my business plan needed to show how i would keep my promises. Not to forget the most important a history of me in this business.
After that she said why am i even bothering. I have RP here already , just start an OY, 3 weeks and your up and running.

With an OY you can't get a self employed permit any way.

"If you own shares of a public limited company (osakeyhtiö) and you work in this company, you will need a residence permit for an employed person."

http://www.migri.fi/working_in_finland/ ... yed_person