Finland's population is projected to grow until 2070, primarily through immigration, according to a recent forecast by Statistics Finland. This marks the most optimistic outlook in 17 years, as the country seeks to counter a declining birth rate. With tightening visa regulations in the US, Canada, and the UK, many skilled Indians are now considering Finland as an attractive option for relocation.

Government Initiatives for Skilled Migrants

To retain talent, Finland plans to grant permanent residency to individuals who complete a master's degree in the country and pass a language exam. In the first half of 2024, over 9,000 work permit applications were submitted, reflecting an increase from the previous year. The influx of international students also grew, particularly from India and neighboring countries, highlighting Finland's appeal for education and employment.

Support for Indian Startups

Finland has actively encouraged Indian startups, offering permits and soft landing services since 2018. Approximately 45 Indian startups have established operations, benefiting from significant investment in research and innovation and a competitive corporate tax rate. Furthermore, Finland's EU membership provides Indian entrepreneurs access to a larger European market.

Rising Income Requirements

Starting November 1, 2024, Finland will implement higher income requirements for residency permits. These adjustments aim to ensure that migrants can sustain themselves, aligning with the rising cost of living in major cities. Existing permit holders will not be affected, but new applicants must meet these updated criteria.

Concerns Over Immigration Policies

Despite positive trends, concerns linger about Finland’s immigration policies. A survey revealed that 90% of foreign specialists are apprehensive about the government's future plans, particularly regarding the repatriation of unemployed foreign workers after six months. Many believe this could hinder Finland's ability to attract and retain international talent.

Long-term Demographic Challenges

Although immigration is vital for population growth, Finland faces demographic challenges. The working-age population is expected to peak in the 2050s before declining, while low birth rates continue to be a pressing issue, with fewer than 50,000 births reported for the seventh consecutive year. The demographic support ratio is also projected to worsen, highlighting the need for sustainable immigration strategies to mitigate these challenges.