Entreprenurship on a Residence Permit

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ox3b987sj
Posts: 8
Joined: Sun Mar 07, 2021 10:15 pm

Entreprenurship on a Residence Permit

Post by ox3b987sj » Tue Sep 27, 2022 12:08 pm

Hi,
I moved to Finland about 3 years ago and I'm currently on residence permit with full time employment in the IT sector. Based on my current situation, I will be eligible to apply for permanent residence at the end of next year. My current permit is valid until 2026.
While in Finland, I have been thinking of starting my own consultancy in the IT sector. This would imply that I leave my current employer and become my own employer.
I was wondering if that would impact or change the grounds for my permanent residence or citizenship and if I should wait until I get my permanent residence before going the enterpreneurial route?
As per my understanding, since my residence permit is valid until 2026, I can legally stay in the country and work for whomever I like - including myself. Since I've already spent 3 years in the country and the current permit is valid for another 3 years - by then I should be eligible for citizenship anyways and "Self employment" shouldn't be an issue. Or is it not so?

Just want to make sure I don't find myself in an ufortuate situation where I lose my residence on the grounds that I' no longer work for Finnish employer who sponsored my permit initially.


Thank you for the response!



Entreprenurship on a Residence Permit

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heretostay
Posts: 587
Joined: Sat Apr 08, 2017 12:54 pm

Re: Entreprenurship on a Residence Permit

Post by heretostay » Tue Sep 27, 2022 1:05 pm

There should be a code on your permit that refers to a section of the law that will tell your working right restrictions. Check on that first. But from my experience, I would suggest waiting until after you a a permanent permit. P permit has unlimited working rights without restrictions.

Also, Migri takes much longer to investigate and approve permits for entrepreneurs in my own experience. So it could delay processing time of your permit application when you do apply for permanent residency. For citizenship you just have to show that you legally obtained your income while living in Finland so I wouldn’t worry about that.

My advice is to wait for P permit. If you do decide to go for it sooner, tread very carefully and verify your situation officially with Migri in writing before proceeding. Best of luck to you.

FinlandGirl
Posts: 1072
Joined: Sat Nov 09, 2019 10:43 am

Re: Entreprenurship on a Residence Permit

Post by FinlandGirl » Tue Sep 27, 2022 5:14 pm

ox3b987sj wrote:
Tue Sep 27, 2022 12:08 pm
I moved to Finland about 3 years ago and I'm currently on residence permit with full time employment in the IT sector. Based on my current situation, I will be eligible to apply for permanent residence at the end of next year. My current permit is valid until 2026.
While in Finland, I have been thinking of starting my own consultancy in the IT sector. This would imply that I leave my current employer and become my own employer.
I was wondering if that would impact or change the grounds for my permanent residence or citizenship and if I should wait until I get my permanent residence before going the enterpreneurial route?
Residence permit as entrepreneur takes some time for getting a decision and has a high rejection rate.
It doesn't sound completely unrealistic for you, but there doesn't seem to be urgency for you to leave employment before you have PR or citizenship.
ox3b987sj wrote:
Tue Sep 27, 2022 12:08 pm
As per my understanding, since my residence permit is valid until 2026, I can legally stay in the country and work for whomever I like - including myself.
You need a residence permit as entrepreneur if you own at least 30% of the company.
ox3b987sj wrote:
Tue Sep 27, 2022 12:08 pm
Since I've already spent 3 years in the country and the current permit is valid for another 3 years - by then I should be eligible for citizenship anyways and "Self employment" shouldn't be an issue. Or is it not so?
Migri can cancel a residence permit when the reason for granting it no longer exists.
The reason for granting your residence permit was employment.
heretostay wrote:
Tue Sep 27, 2022 1:05 pm
My advice is to wait for P permit. If you do decide to go for it sooner, tread very carefully and verify your situation officially with Migri in writing before proceeding.
I'd agree with that.

dev-entrepreuner
Posts: 8
Joined: Sat Jul 30, 2022 3:54 pm

Re: Entreprenurship on a Residence Permit

Post by dev-entrepreuner » Mon Oct 10, 2022 10:45 am

The good thing is that you can apply for a entrepreneurship RP at any point and you don’t have to stop your current job.
That way you will have a bulletproof stance in a way that in case of receiving negative decision no one will kick you out as your previous RP is still valid.

However, keep in mind that first entrepreneurial RP is going to be issues for 1 year only, which will give you some stress next year.


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