To open a travel agency in Sweden investors will follow the multi-step process of starting a company in Sweden, beginning with choosing a suitable business form for their commercial activities. Starting a business in Sweden is straightforward for both locals and foreigners and our team can offer full representation and assistance throughout the process.
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What are the requirements for investors who start a travel agency in Sweden?
There are no nationality restrictions for investors who want to set up a company in Sweden. Full foreign ownership is permitted, however, in some cases, there may be requirements for residency in the case of a limited liability company. For example, at least half of the board members and the managing director must reside within the EEA.
Our team can help you understand these requirements and how you can apply for an exemption from the residency conditions.
Travel agencies in Sweden offer a variety of services focused on accommodation and transport, travel insurance (optional), and personalized tour packages. If you want to open a travel agency in Sweden you can focus on providing adventure or family-oriented tours, city tours or those focused on gastronomic experiences.
Sweden is a beautiful country with a rich culture that makes the most out of its unique natural landscapes.
What are the steps required to open a travel agency in Sweden?
Only one investor is required to start a limited company in Sweden. In addition to this, the founder must provide at least SEK 25,000 (about 2,242 Euros) as share capital (cash or property).
Investors who open a travel agency in Sweden observe the following steps:
- Choosing a business name: the name of the company must be unique and its availability can be verified with the Swedish Companies Registration Office;
- Providing the share capital: as previously mentioned, founders must have a minimum capital to start a travel agency in the form of a limited company. They will open a bank account and deposit the capital. The electronic bank certificate proving that the capital was deposited will be used to register the business;
- Preparing the documents: these are the Memorandum and the Articles of Association. They include essential information about the company and its founders (name, registered office, object of activity, duration, shareholding structure, etc.);
- Registering the business: all companies are registered with the Companies Registration Office. The beneficial owner is registered at the same time. The response time for new limited company registrations is estimated at 9 working days.
How are travel agencies taxed?
Those who open a travel agency in Sweden will not only be concerned with its proper registration, but also with its ongoing tax and reporting compliance requirements.
We list the most important taxes for travel agencies below:
- 20.6% corporate income tax. Resident companies, such as locally-registered travel agencies in Sweden, are subject to income tax on their worldwide income;
- 25% standard value-added tax with a reduced rate for certain types of services, such as domestic passenger transport, which is subject to a 6% rate;
- 31.42% aggregate social security contributions payable by the employer (less in some cases, according to the employees’ age).
Travel agencies, like other companies in Sweden, observe a tax year that consists of a 12-month period, and they can choose their end month. As a result, there are several possible dates for filing the annual corporate income tax return.
Our team can give you more information about business taxation and filings as well as about payroll in Sweden.
Contact us if you want to open a company in Sweden and require more in-depth information about your chosen industry.