Sweden Company Formation

Opening a company in Sweden

Why open a company in Sweden? What are the advantages in the country of Sweden?
Sweden, a country that is part of the European Union, is a convenient solution for many entrepreneurs.

The local currency is the Swedish Krona (SEK).

In Sweden the local market understands the English language very well.

The country is in Northern Europe, as part of the Scandinavian countries, and this is a very important strategic location for import/export operations from Europe. Stockholm's positive position as a port city for import/export from or to Europe, where the main transportation routes intersect, allows goods to be exported or imported to European countries, thus reaching over 500 million consumers.

Sweden is a pleasant, polite, and perfect place for investments and business expansion.

The tourists are fascinated by the Swedish hospitality and friendliness, by the cultural heritage of Sweden and the natural wealth of the country.

All the factors together with the country's international safety due to Sweden's membership in NATO and the European Union, make Sweden a reliable and important business partner for foreign investors.

The process of opening a company in Sweden
Opening a company in Sweden begins with the signing of a notarial power of attorney to open a company by a local agent. The document was then urgently sent by courier to Sweden to be processed by a local Swedish notary, who would submit the documents to the Swedish Companies Registry - the SCRO. After that, the company will already exist from a legal point of view and you will be able to start business activities.

In Sweden there is no need for a local director or a local shareholder. However, if there is no local director, an agent is required on behalf of the company, called in Sweden "process agent".

In Sweden you also do not need any European citizenship to open a company. You can open a Swedish company even if you are a foreign citizen.

This means that it is possible to open the company with 100% shareholding in the name of a foreign citizen - in your name, or even in the name of a foreign company. The director can be foreign and there is no need for a local director.

Opening a bank account in Sweden - current account for the company
Since this is a European country, more or less starting in 2018, those who want to open a bank account are required to come to the country.

However, there is an alternative, and that is opening an internet bank account. Indeed, similar to our "Zero One" bank, there are Internet banks in Europe that would be happy to accept your company in Sweden as a customer.

Equity Capital
In order to open the company, a minimum equity deposit of 25,000 Swedish kroner is required, which is only about 2,146 euros.

In Sweden, it is required to make an actual deposit of the aforementioned amount of equity, but there is no requirement that this happen before opening the company. Therefore, it is possible to open the company first and only then deposit the equity.

After the company is opened, a company form is issued from the commercial register (this is the Swedish certificate of incorporation)

After opening the company, you can use the bank account that was opened for the purpose of depositing the equity capital. In other words, the equity account becomes an active current account for all intents and purposes.

VAT registration
After the opening of the company, at the same time as the opening of the current bank account for the company, the registration of the new company in VAT will also be carried out. The company will receive a VAT number and can start trading.

EORI number
If you need to, we can obtain an EORI number for you so that you can import or export with the company within Europe.
EORI is an abbreviation of Economic Operators Registration and Identification number.

Company maintenance
The company requires annual maintenance of payment of fees, annual submissions, local address (which we will provide for you), as well as submissions to the tax authority.

Tax in Sweden
The corporate tax rate in Sweden is only 20.6%.
For sales to the local Swedish market, the VAT is 25%.

Questions and answers
Question: Is it necessary to physically fly to Sweden to open a company in Sweden?
Answer: The entire process is carried out remotely and at no stage is it necessary to physically come to Sweden. There is no need to fly to Sweden to open the company, nor the company's bank account. The entire process of opening the company and in most cases also the company's bank account, are carried out remotely without setting foot on Swedish soil.
Question: Who provides the local address for the company in New Sweden?
Answer: We will provide the local address.

Question: How can I find a good accountant who can take care of the company in our new Sweden?
Answer: We will connect you with a local accountant.

Question: If I want to come to Sweden to open a bank account, what should I do?
Answer: We will try ahead of time to arrange a meeting for you at the branch in order to sign the account opening forms, so that everything will be in order before you arrive, so that you don't just walk around the city in order to find a branch that will accept you and open a bank account for a company in your new Sweden.

Question: What type of company in Sweden should I open?
Answer: In Sweden there is only one type of society, so there is nothing to be confused about. This is the limited liability company ("Aktiebolag").

Question: Do you need a European passport to open a company in Sweden?
Answer: There is no need for a European passport. We can open a company in Sweden for any foreign citizen as long as he has a valid passport.

Question: How long does it take to open a company in Sweden?
Answer: The process of opening the company, including signing the power of attorney and sending it, should take about 4 weeks. After that, the process of opening a bank account takes between 3-4 weeks, depending on the readiness of the banks to accept the new company as a customer. Of course, these are times that depend on third parties, so this is only an estimate.

Question: Is it possible to open a company in Sweden for a person with American citizenship or a person living in the USA?
Answer: Yes. We know how to open a company in Sweden for a person with American citizenship or a person living in the USA.

Apparently it seems trivial that a person with ties to the USA could open a company in Sweden, but we assure you that this is not the case. Today, all banks in Sweden without exception refuse to open an account for a new Swedish company if its owner has any ties to the USA. Therefore we are probably the only ones, and certainly one of the few in Sweden, who know how to open a company in Sweden for a person with American citizenship or who lives in the USA.

Question: Is it possible to define that any foreign company will be the subsidiary of a company in Sweden?
Answer: Yes, absolutely, we know how to do such a process with the foreign Registrar of Companies without any problems and in a completely smooth manner.

Question: How much does it cost to open a company in Sweden?
Answer: Click here and get in touch and get a current quote without obligation!