Finland Planning to Grant Permanent Residency to Master’s Graduates to Retain Talent

Finland is planning to implement a new regulation that will offer permanent residency to individuals who have earned a master’s degree in the country and passed a Finnish or Swedish language exam.

This progressive measure aims to address the issue of graduates leaving Finland after their studies and provide a promising opportunity for international students, Schengen.News reports.

According to Finland’s Minister of Employment, Arto Satonen (NCP), only around half of the students who study in Finland decide to stay there after graduation. He stressed the importance of finding strategies to retain these talented individuals.

Recent data from the Ministry of Economic Affairs and Employment revealed a significant surge in international interest in studying in Finland. This increase, coupled with a rise in seasonal work, cleaning, industrial jobs, and health and care services, paints an intriguing picture of Finland’s growing appeal.

As a result, in the first half of this year, Finland saw just over 9,000 applications for first-time work-based residence permits, up from 8,800 during the same period last year. Similarly, applications for renewals of work-based residence permits have also grown slightly.

Approximately 11,700 renewal applications were submitted in the first half of 2024, compared to nearly 9,400 a year prior. This increase was particularly noted among specialists and other workers.

The processing time for student residence permit applications has improved, with the average period now at 30 days, compared to 38 days in 2023. The highest number of student residence permit applications have come from the following countries:
• Nepal
• Bangladesh
• China
• India
• Sri Lanka

Additionally, there was a rise in applications for student residence permits. In the first half of this year, nearly 7,000 applications were received from prospective international students, up from just over 6,700 the previous year.

However, the number of first-time applications from specialists has declined, with just over 600 applications in the first half of 2024, down from over 900 a year earlier. Despite these trends, some officials argue against imposing quotas for work-based immigration, citing the variable demand for labour across different sectors, such as the recent downturn 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) revealed that nearly 90 per cent of foreign specialists living in Finland are concerned about the ongoing immigration debate. Additionally, 80 per cent of those surveyed doubt Finland will be able to attract more international experts in the future than it does now.

Source : https://schengen.news/finland-planning-to-grant-permanent-residency-to-masters-graduates-to-retain-talent/