Finland Plans to Offer Permanent Residency to Master’s Graduates to Retain Talent
Summary
1. Finland is set to offer permanent residency to master’s graduates who successfully pass a Finnish or Swedish language exam.
2. This initiative is designed to retain skilled graduates who might otherwise leave Finland after completing their studies, providing an attractive option for international students.
3. In early 2024, Finland processed 9,000 new and 11,700 renewed work-based residence permits.
Details
Finland is introducing a new regulation to grant permanent residency to individuals who obtain a master’s degree in the country and pass a Finnish or Swedish language exam. This forward-thinking measure aims to counteract the trend of graduates leaving Finland post-studies and presents a valuable opportunity for international students.
Finland’s Minister of Employment, Arto Satonen (NCP), noted that only about half of the international students studying in Finland remain in the country after graduation. He emphasized the need for effective strategies to retain these skilled graduates.
Data from the Ministry of Economic Affairs and Employment indicates a significant increase in international interest in studying in Finland. Alongside this, there has been a rise in seasonal work, as well as jobs in cleaning, industrial sectors, and health and care services, highlighting Finland's growing appeal.
Increase in Work-Based Residence Permits in 2024
In the first half of 2024, Finland received just over 9,000 applications for initial work-based residence permits, slightly up from 8,800 in the same period the previous year. Additionally, applications for renewals of these permits also increased, with about 11,700 renewal applications submitted in early 2024, compared to nearly 9,400 the year before. This growth was particularly noted among specialists and other types of workers.
The processing time for student residence permit applications has improved, now averaging 30 days compared to 38 days in 2023. The highest number of student residence permit applications have come from Nepal, Bangladesh, China, India, and Sri Lanka. There was also an increase in applications from prospective international students, with nearly 7,000 applications received in the first half of this year, up from just over 6,700 in the same period last year.
However, the number of first-time applications from specialists has decreased, with just over 600 applications in the first half of 2024, down from over 900 a year earlier. Despite these changes, some officials argue against setting quotas for work-based immigration, noting the fluctuating demand for labor across various sectors, such as the recent slowdown in the construction industry.
A survey conducted in August by the Academic Engineers and Architects in Finland (TEK) and the Union of Professional Engineers in Finland (IL) found that nearly 90% of foreign specialists in Finland are concerned about the ongoing immigration debate. Additionally, 80% of those surveyed are skeptical about Finland's ability to attract more international experts in the future than it currently does.