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Open a Cryptocurrency Company in Sweden

Open a Cryptocurrency Company in Sweden

Investors who wish to open a cryptocurrency company in Sweden have access to easy company formation and benefit from an open approach to blockchain technology.

While there is no crypto-specific regulation in place at the moment, certain types of services are subject to certain requirements.

Moreover, while there is no specialized license, such as a crypto exchange license in Sweden, these types of services are subject to anti-money laundering rules and to specific registration requirements.

Investors who wish to open a company in Sweden can reach out to our team for personalized incorporation assistance if they wish to open a crypto business.

Our team can help you set up a company in Sweden, whether it is a cryptocurrency company or a business involved in another commercial activity. With our help, you will understand the requirements for the chosen business form, the registration steps, as well as the post-incorporation procedures that are related to taxation, but also to hiring employees and meeting the reporting requirements.

Cryptocurrency regulation in Sweden

The following statements and general regulations are relevant for investors who wish to open a cryptocurrency company in Sweden:

  • – the Financial Supervisory Authority (FSA) and the Swedish central bank (the Riksbank) have stated that while Bitcoin is legal, it is not legal tender;
  • – the e-krona is a project by the Riksbank which has not yet been launched; it would be a digital complement to cash, available to everybody;
  • – from a taxation standpoint, cryptocurrencies are an asset, not currency or cash;
  • – registration requirements are in place for certain services providers; this could be seen as an equivalent of a crypto exchange license in Sweden, as exchanges are registered and must observe the Swedish Currency Exchange Act;
  • – crypto mining is not regulated under Swiss law;
  • – capital gains are imposed on cryptocurrencies, as detailed below by our team.

Companies that offer exchange services, and are subject to a special registration that can be seen as a crypto exchange license in Sweden, are required to observe the anti-money laundering regulations and the know your customer principles.

Company formation in Sweden

Investors who open a cryptocurrency company in Sweden commonly do so in the form of a limited company.

Our team lists the main characteristics of the two types of corporations below:

  1. Private limited company: incorporated by one or two investors with a minimum share capital of SEK 25,000; it cannot offer its shares to the public and it is run by at least one director;
  2. Public limited company: can sell its shares to the general public and it requires a larger minimum share capital of SEK 500,000; it is run by a board or directors consisting of at least 3 members.

The private and the public limited companies have a memorandum of association and articles of association and they are registered with the Bolagsverket, following the payment of a fee and the submission of all the required documents.

The limited company will need to have a registered office in Sweden and this can be in the form of a virtual office.

Cryptocurrency company taxation

A locally registered company in Sweden (considered a tax resident company) is subject to the general taxation rules:

  • – Corporate income tax: the standard rate of 20.6% applies on the worldwide income of the resident company;
  • – Dividend tax: 0% withholding tax on dividends paid to residents; foreign companies and non-resident individuals are subject to a general withholding tax of 20%; certain exceptions and reductions under a tax treaty apply;
  • – Value added tax: the standard rate is 25% and there are two lower rates of 12% and 6%; some type sof goods and services are 0% rated;
  • – Other taxes: capital gains are imposed on cryptocurrencies at a flat rate of 30%.

Investors who open a cryptocurrency company are also interested, as a post-incorporation step, in matters concerning employees and the payments they need to make. There is no tax for payroll in Sweden, however, the company owner, or employer, will need to keep accurate records of the payments made to the crypto company’s employees. Our team can give you more details. 

Sweden is one of the most digitally advanced countries in the world.

Investors who open a cryptocurrency company in Sweden benefit from a regime that favors these types of financial activities.

Company formation in Sweden is easier with our help. Contact us if you want to know more about the services we provide to local and foreign investors.

Our team can also help foreign companies that wish to open a branch in Sweden.