Company formation in Sweden is performed on the basis of some rather standard actions. Company incorporation in Sweden includes drafting the articles of association, the passport copies, the specimen signatures and other forms obtained from the company registration office. Some public notary procedures must be taken care of. A registered office in Sweden is necessary for company formation in Sweden, as well as a bank account and hiring a local accountant for the newly established company in Sweden.
TYPES OF BUSINESS ENTITIES IN SWEDEN
The most popular form of business in Sweden is the Aktiebolag (A.B. - Limited Liability Company) which requires a minimum share capital of 50,000 SEK to be established. It must be set up by at least one shareholder and two directors. The main advantage granted by this form of business is that the liability of its members is limited in extend of their contribution to the capital. The main documents siting at the base of such company is the articles of association, which includes all the company’s internal regulations, details regarding the shareholders and capital and an availability term in certain cases. The company’s main decisions are taken by the general meeting of the shareholders.
The following structure is established by large businesses. For a Swedish Joint Stock Company the same number of shareholders is allowed for incorporation, but the initial capital has to be at least 500,000 SEK. The main difference between the two entities is that the Swedish Joint Stock Company has its shares transferable to a third party and in certain cases can be registered to the Stock Market.
Minor forms of Swedish business. A Handelsbolag (H.B.-general partnership in Sweden) is a form of business established by two or more partners who share the same liabilities and have the same managerial power. The profits are divided equally between the members and in case of liquidation the personal assets of them can be affected.
The Kommanditbolag(K.B. -Limited partnership in Sweden) is a form of partnership established by two types of individuals :at least one member has to have general liability and at least one member is a limited partner, with liability to the extent of his contribution to the capital.
Enskild firma (Sole proprietorship) in Sweden is form of business which doesn’t require a minimum share capital and the liability of the owner is unlimited. It can use the profits as desired but his personal assets can be affected by liquidation or dissolution processes.
Foreign investors who want to set up a company in Sweden
can ask our lawyers for detailed information and assistance. We offer legal services to businessmen who open compenies in other European countries, such as France
etc. We provide incorporation services for opening firms in many European countries, such as Italy or Germany.
INCORPORATION PROCEDURE IN SWEDEN
The founders of a Swedish company must check the desired name at the Swedish Companies Registration Office before using it in elaborating the company’s documents. If it’s unique, the founders must proceed with opening a bank account for depositing the minimum capital before registering a company.
When all the above procedures are done and the articles of association are drafted, the entrepreneur can proceed with the incorporation process by registration with the Swedish Companies Registration Office entity which will deliver a registration certificate. The registration can be performed in person or online through an application developed by the Swedish Companies Registration Office.
After issuing the registration certificate, an announcement regarding the setting up of the new company is made in the Swedish Official Gazette. The registration at the tax authorities can be performed at the same time using the online application, or in person at the Tax authorities. Not more than two months can pass before the Swedish Tax authorities is notified regarding the newly formed company.
ECONOMY OVERVIEW IN SWEDEN
Sweden’s economy is one of the top economies in Europe. Foreign trade plays an important role for the country. Germany is the main partner when it comes to imports in Sweden. Still, the Netherlands, Luxembourg and the UK are the main investors in Sweden.
Sweden represents 2% of the total European share. Foreign investments who start companies in Sweden contribute to the gross domestic product of this country, with almost a third of the total GDP. The World Bank actually considers Sweden to be the third nation in the world in terms of friendliness and connection with international markets.
The main fields that help the improvement of the economy in Sweden are based on forestry, iron, steel, precision equipment, mining, agriculture and motor vehicles. However, many foreign investments starting companies in Sweden go to pharmaceuticals and chemicals sectors. While European countries have a tendency to increase the rate of investments in Sweden, the United States reduced its investments in Sweden during the past period of time.