Are you a foreign citizen planning on starting a business in Sweden? Good on you! Here are some pointers and procedures you need to go through to get started.
If you are a EU/EEA citizen you are free to work and live in Sweden without any permit. If you are a non-EU/EEA citizen, you have to get a special permit from the Swedish Migration Agency, read more on the matter here.
It’s quite easy to register a company I Sweden. Depending on which business structure you choose, it could take as little as a week. The different structures are: • Limited liability company (Aktiebolag) • Sole trader (Enskild näringsidkare) • Bransch (Filial) • Trading partnership (Handelsbolag) • Limited Partnership (Kommanditbolag) • Economic association (Ekonomisk förening)
Limited liability company is one of the most common forms. Starting a limited liability company requires a start share capital of SEK 25 000.
First and foremost, you need a name for your company. The name should be unique and stand out from other company names in similar industries. You also need do describe your business so that it is clear what types of services or products the company intends to offer. You then have to decide who should be on the board of the company. The Board of Directors shall consist of at least two persons, you yourself as an ordinary member and an additional person as deputy board member. The role of deputy board member is for someone that will be able to represent the company in your place if anything unforeseen might occur.
A limited company is formed through the preparation of a document called the foundation document. It states who is the founder/founders, how much is paid by each person and a proposal for articles of association. The articles of association states the new company’s core rules among other things, and must be written in Swedish.
You then need to register your company at the Swedish Companies Registration Office, Bolagsverket and the Swedish Tax Agency, Skatteverket. The corporate tax rate in Sweden is quite low compared to international standards and is set at 21,4 % as from 1 January 2019. The application must include a bank certificate showing that SEK 25,000 has been deposited in a newly opened bank account in the name of the company. The documents can either be submitted on paper, or electronically via the e-service verksamt.se
Talenom is happy to help you with starting your new company! We have helped a lot of new business through the years and will provide the services and support you need to get started.
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