Sweden is known for its thriving business environment, attracting entrepreneurs from around the world. If you’re considering starting a business in Sweden, Scandicorp is here to help. 

As a company focused on assisting people outside Sweden in setting up their ventures, Scandicorp has the expertise to guide you through the process.

In Sweden, there are several business structures to choose from, including Sole Trader (Enskild Näringsidkare), Trading Partnership (Handelsbolag), Limited Partnership (Kommanditbolag), and Limited Company (Aktiebolag). 

Scandicorp can help you determine the most suitable structure for your business needs.

One of the most popular choices is the Limited Company (Aktiebolag). To start a limited company in Sweden, you’ll need to register with the Swedish Companies Registration Office (Bolagsverket). The process involves submitting various documents and paying the required registration fees. Scandicorp can assist you in preparing the necessary paperwork and ensuring a smooth registration process.

But what if you’re a foreigner looking to start a business in Sweden? The good news is that you can, but there are residency and visa requirements to consider. Non-EU citizens may have additional requirements to fulfill. Scandicorp can help you navigate the legal aspects and ensure compliance with Swedish regulations.

Registering your business in Sweden typically takes a few weeks, depending on the complexity of your case. Scandicorp can help streamline the process by handling the registration on your behalf, saving you time and effort.

If you plan to start a business in Sweden with a work permit, Scandicorp can guide you through the eligibility criteria and application process. We can also assist in obtaining work permits for entrepreneurs, allowing you to focus on building your business.

Starting a company in Sweden does come with costs, such as registration fees and minimum share capital requirements. Scandicorp can help you budget and plan for these expenses, providing transparency and clarity throughout the process.

In conclusion, starting a business in Sweden is an exciting opportunity, and Scandicorp is committed to helping foreign entrepreneurs navigate the process. With their expertise and personalized assistance, you can confidently establish your venture in Sweden. Contact Scandicorp today to take the first step towards your entrepreneurial dreams in Sweden.

Please read more about how to start a business in Sweden on this article: https://scandicorp.com/doing-business-in-sweden/

A little more than one year ago Scandicorp incorporated the Swedish subsidiary of Elevon and has been assisting with administration and accounting services. We wish here to celebrate Elevon’s growth in Sweden and abroad. Going forward, we hope to continue our support and strengthen our relationship.

Elevon provides tailored project logistics exclusively to the wind industry. In Sweden, Elevon has become a leader in port management and transport solutions to support efficient delivery of wind projects.

We always want to give our clients the best service regardless (almost!) of their core business. It is, however, especially exciting when their core business involves solutions to current environmental issues and aims at improving our collective future.

Here’s to Elevon’s achievements over the past year, their continued success in Sweden and growth in the wind industry!

We are excited to welcome Claudia Cantell, as Administrative Assistant at Scandicorp.

She joined in mid-September and will be working with us while finalising her law degree. Claudia brings years of administrative expertise both from global corporate services providers and Finland’s second largest bank. She speaks Swedish, Finnish and English and will be working out of the Stockholm office.

Fun fact! Except from being an administrative genius our new team member won the Finnish championships in cheerleading twice and finished second in the World Championships!

We are excited to welcome Pavel Teplykh, newly appointed Managing Director of Scandicorp.

Based in Stockholm, Pavel brings over 10 years of experience in the legal field, most recently as Senior Lawyer at a global Corporate Services Provider.

“I’m really pumped up to start delivering at Scandicorp! As this is my first MD appointment I was a bit nervous the first day or so, but I have to say, now three weeks in it feels like home already. Time to roll up the sleeves and get down to business!” Says Pavel Teplykh.

Establishing a business in another country, starting a branch or subsidiary, needs careful preparation and specific knowledge of the country. Getting started with registration and submitting an address is not always easy. The threshold will be significantly lower if you request help from Scandicorp.

Says Till Sahlgren, responsible for business development at Scandicorp, located in Sweden, Finland and Norway. We help foreign companies to establish operations in the Nordic market, both large groups and smaller entrepreneurs. It can also be, for example, Finnish companies who want to reach the Swedish market and vice versa.

Register and run your business in the Nordics

It is difficult to administrate the registration process, understand the laws and run a business in a new country. It is a completely new culture with many details to keep track of; to understand different regulations, tax legislation, customs management, corporate information and paperwork. This is where we have our expert competence, emphasizes Till Sahlgren.

It is about creating tailor-made solutions and services in business administration to international companies ready to establish their operations in the Nordics. But it can also be Swedish, Norwegian or Finnish companies that plan to start a branch or subsidiary here in another country in the Nordic region. In most cases, it is a matter of selling services and goods.

Subsidiaries in the Nordic region

We have a large number of European customers within the Nordic region, also from the USA and India. Most of them expanded to Sweden, the Nordic region’s most important and interesting market from an international perspective. This is not a surprise, says Till Sahlgren and points out the fact that Sweden is the Nordic region’s largest economy with very strong consumers. International companies therefore often initiate an investment abroad in Sweden in particular by establishing an office in Stockholm. The same applies to Nordic companies.

Solutions according to the customer’s needs

Some customers are satisfied with the initial help, registering the company and a company address. Others want help with most things until you are running your own office and your own employees. We structure and streamline customers’ operations with a range of administrative services, such as accounting, payroll management, tax and financial statements. We are flexible and put together different solutions according to the customer’s needs and wishes, says Till Sahlgren.

The ambition for the future is continued growth with the establishment of offices also in Copenhagen and that we will thus be comprehensive in Scandinavia.

In collaboration with the Finnish-Swedish Chamber of Commerce (FINSVE)

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“The outlook for Nordic banks is stable as operating conditions will remain supportive for banks in 2019 amid robust economic growth”, says Moody’s Investors Service in a report published on the 12th of December. The credit rating agency expects economic growth of 2 to 2.5% across the Nordic region to support loan quality in 2019, and protective features built into banks’ underwriting standards will mitigate the risks posed by high household debt and fast-rising house prices.

“Nordic banks are among the most strongly capitalized in Europe and we expect this to continue to be a key attribute,” said Jean-Francois Tremblay, an Associate Managing Director, at Moody’s. “Most banks have material headroom above their regulatory capital requirements and strong capital generation capacity.”

Large Nordic banks will remain more profitable than most of their European peers, supporting their robust capital levels. The banks are among the most cost-efficient in Moody’s rated universe.

Access to capital markets, an important source of funding for Nordic banks, will remain strong over 2019, although funding costs may rise marginally. Reliance on volatile market funding will be partly mitigated by the wide use of more stable covered bonds.

The report is available to subscribers here: moodys.com.

The Swedish government plans to lower corporate taxes in two stages from 22% down to 20.6%. The rate is to fall to 21.4 percent from Jan. 1, 2018 and to 20.6 percent in 2021, Finance Minister Magdalena Andersson said on Wednesday.

At the same time, the intention is to take measures against aggressive tax planning and make the tax system more transparent. This will involve new rules on deductible interest payments which have been quite generous so far. The proposal includes restrictions for deductible interest payments in certain cross-border situations (hybrid rules) as well as restrictions for deductible interest in certain internal loans. New rules on financial leasing agreements are also to be expected.

The original plan was to reduce the corporate tax rate to 20% (the prevailing rate in Finland).

Despite cultural, economic and business differences the Nordic countries have many positive aspects in common. The choice of where to locate a business in this part of the world will naturally depend on the specific nature of the business in question. Scandicorp will happily discuss with you about the benefits of a specific country for your business. In this article, we will look at 10 good reasons for a foreign business to establish a presence in the Nordic countries (Norway, Sweden and Finland).

1. High international rankings

The Nordic countries rank very high in international benchmarks in the top places of the most secure and best places to live, least corrupt countries and one of the best health systems in the world.

2. Reliability

Everything works. If something doesn’t work, it will usually be addressed as soon as possible. You save a lot of time and nerves when you can rely on the infrastructure, logistics and timekeeping etc.

3. English

Most Nordic people are fluent in English and will be more than happy to practice their English with you. Although a basic understanding of the local language will make everyday life easier for you.

4. Highly skilled workforce

Thanks to a good public schooling system and a high overall level of education, recruiting locals will be relatively easy in most fields of business.

5. Moderate corporate taxes

The Nordic countries have traditionally been perceived as high-tax jurisdictions. However, the corporate tax rates are very moderate in international comparison.

6. Business environment

The Nordic countries have a very strong financial sector, a stable, ethical and predictable business environment. This provides a solid base for a long-term business solution. Good logistics thanks to modern airports, efficient ports and railways.

7. Lively startup scene and pioneering new technology

The governments of the Nordic countries as well as local communities have encouraged and supported research and development, the creation of start-up hubs and events. The atmosphere for start-ups has proved to be very inspiring.

8. Relatively easy to find local partners

It’s good to find local partners who you could collaborate with on common projects as this will help build your credibility.

9. Over 25 million consumers

In a consistent market with a strong purchasing power due to the relatively high GDP per capita.

10. Good places to test new ideas and products

Nordic consumers and businesses are among the first to adapt to technologically, new products and concepts. Testing your new products and technologies in the Nordics first before going global may be a smart move.

The Swedish government will propose a corporate tax cut to 20%, down from present 22% according to Finance Minister Magdalena Andersson and Deputy Finance Minister Per Bolund. The corporate tax rate of neighboring Finland has been 20% for some years now.

The proposed changes also include limitations to the deductibility of interest payments for companies. The aim of the proposal is to make equity financing more attractive compared to loans. The ministers stated that aggressive tax planning will become more difficult due to reductions in the deductibility of interest.

“With the proposals we want to strengthen competitiveness and create a more dynamic business climate,” they said on business daily Dagens Industri’s website.

The Finance Ministry will today circulate a Memorandum to interested parties.

The proposed changes would be implemented on July 1st, 2018.

Sweden is the best country in the world for women, at least according to a large american survey done by US News & World Report together with University of Pennsylvania and the brand consultants BAV Consulting. The survey ranks 80 countries around the world based on how closely people associate them with certain attributes such as human rights, gender equality, income equality, safety and overall progressive attitude. More than 21,000 respondents were interviewed and most of the respondents classified themselves as belonging to an ”informed elite” or being decision makers in business. The other Scandinavian countries also did well: Sweden was followed by Denmark and Norway. Finland came 6th.

According to New York Times this may come as a surprise to American conservatives, some of whom — like the Fox News host Bill O’Reilly have argued in recent weeks that criminal hordes of Muslim immigrants have forced frightened Swedish women to barricade themselves at home.

On the other hand some other studies suggest that Sweden may not be perfect paradise for women. Earlier this week, an organization promoting diversity in the workplace investigated a number of Sweden’s biggest private equity firms and found only 3 out of 92 top positions were held by women. Around 32 percent of board members of listed companies are women, and this figure appears to be growing.

Source: Read the US News story