Finland to Offer Permanent Residency to Master's Graduates to Retain Talent
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Loading... - Hayes Oakely
- 30 Aug 2024
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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 retain talented international students who often leave Finland after completing their studies.
According to Finland's Minister of Employment, Arto Satonen, only around half of the students who study in Finland decide to stay in the country after graduation. This new regulation is designed to provide a promising opportunity for international students to stay and contribute to Finland's economy.
Recent data from the Ministry of Economic Affairs and Employment reveals 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, highlights Finland's growing appeal.
In the first half of 2024, Finland saw an increase in applications for first-time work-based residence permits, with over 9,000 applications submitted. Applications for renewals of work-based residence permits also grew, with approximately 11,700 renewal applications submitted. Additionally, there was a rise in applications for student residence permits, with nearly 7,000 applications received from prospective international students.
Despite these trends, a survey conducted by the Academic Engineers and Architects in Finland (TEK) and the Union of Professional Engineers in Finland (IL) revealed that nearly 90% of foreign specialists living in Finland are concerned about the ongoing immigration debate. Moreover, 80% of those surveyed doubt Finland's ability to attract more international experts in the future.
Finland's decision to offer permanent residency to master's graduates is a step in the right direction to retain talent and address the brain drain. As the country continues to attract international students and workers, it is essential to create an environment that encourages them to stay and contribute to Finland's economy.
