A beautiful country with good ecology, high-quality infrastructure, and low crime rates.
Why do business in Sweden?
Protection of property rights and low levels of corruption. Sweden is in 3rd position in the ratings of the International Property Rights Index and Corruption.
A stable banking sector. Own currency, independent and prudent monetary policy of the Riksbank – the central bank in Sweden. As a result, large Swedish banks (for example, Nordea, Handelsbanken) are consistently in the top 15 most reliable in the world (according to Global Finance, Bloomberg).
An independent court, an effective law enforcement system. According to the Rule of Law Index: 1st place in terms of “observance of fundamental rights”, 3rd place in terms of “law enforcement practice”, 5th place in terms of “civil justice”, 6th place in terms of “criminal justice “.
The majority of the population is fluent in English. 87% of Sweden’s population is fluent in English.
Business in Sweden
This type of immigration is a real chance for those who are ready to open a joint-stock company in the country or invest in the Swedish economy. The state has created acceptable conditions for those who want to buy a ready-made business in Sweden, open their own business or establish a branch of their company.
Business immigration to Sweden in 2021 is welcomed by the authorities, and the tax rates for legal entities are the most attractive in the European Union. There is no limit for business investors, with one limitation regarding the type of firm to be established.
Foreign businessmen are allowed to establish LLC (Privat Aktiebolag) or open joint-stock companies (Publikt Aktiebolag). Those who buy 50% of the shares of the Swedish company also receive a temporary residence permit. Mandatory requirements: have enough funds to support the family and speak Swedish. Knowledge of English is an advantage.
The family members of the main applicant can also obtain a residence permit. After 2 years of efficient operation of the enterprise, the family can apply for a permanent residence permit.
For those who have start-up capital, it is easier and faster to buy a business in Sweden, and not to organize from scratch. This decision is supported by the presence of a client base and real facts about income.
Selling a business is popular, so buying a ready-made business is an easy procedure. The value of the company depends on the scale of the activity and the location of the business. For a middle-class businessman, the cost can cost from 50,000 €, and those wishing to open a large business in Sweden can pay several million euros.
Those who are interested in medium and small business in Sweden can pay attention to the following areas of activity:
- IT technologies (programming, design services, game, and application development); intercity and international transportation;
- renting out real estate.
Branch of the company
To open a representative office in Sweden, you need to register a branch of your company on the website of Bolagsverket – the Swedish Business Registration Service https://www.bolagsverket.se/en/info/buy and submit a package of documents with an application: company charter; a memorandum on its establishment; document on the distribution of shares/quotas among partners; bank certificate of depositing funds. Registration of documents is fast – in just a couple of hours.
To register a business or branch, you should pay about 2000 CZK (217 €). The position of director must be held by a Swedish citizen.
The state is constantly looking for profitable projects in all areas of business. Huge sums from the state budget are spent on encouraging young entrepreneurs. So, only for the development of one start-up project is allocated about 100 thousand dollars.
You should consider that the competition in such a favorable business environment is extremely high. Therefore, you need to try to stand out from the background of other competitors. Your startup must be unique. It is also worth taking care of the competent promotion of your product in advance, it should be recognized, it should be talked about.
Taxes for foreign businessmen
A huge benefit for a foreigner who wants to start a business in Sweden will be a loyal tax system. Non-residents are allowed:
- to deduct to the treasury a much smaller amount;
- get exempt from paying taxes if the company brings too little income or brings only losses.
Even with a high income, you will still have a low tax rate.
There are a lot of prospects for a beginner businessman in Sweden. Even if you have no savings, but have an innovative and high-quality business project, you can always apply for monetary support from the state.