How to open a bank account in Sweden? Foreign bank accounts Open an account in Swedish kronor.

Sweden is one of the few countries that was able to easily overcome financial crisis 90s of the last century. Her sustainable economy contributed to the growing popularity of registration of non-residents in national banks. Today banking system Sweden is reliable and attractive for economic activity. Almost every businessman or company whose activities are carried out around the world strives to open a bank account in Sweden.

The procedure for opening a bank account in a Scandinavian country is a long, tedious process, including preparation of documents, registration, receipt bank card etc. UraFinance offers assistance in obtaining an account abroad, as well as solving problems encountered during registration.

We will select a reliable one credit institution for your business!

Open a bank account in Sweden

The most common reason for opening a bank account in Sweden is a deposit. Safe storage cash in Swedish banks allows you to make deposits without worrying about the premature bankruptcy of financial institutions. The ability to withstand the crisis impacts of Swedish banks is characterized by extreme resistance to sharp fluctuations in the global economy.

Both individuals and legal entities can open an account in a Swedish bank. Registration of individuals is accompanied by the provision of documents (or notarized copies) of identification, and it is also necessary to have a personal tax number (identification code). It is worth noting that in most financial institutions Sweden requires personal presence at the time of registration.

To open a bank account in Sweden, a foreigner must provide a tax identification number, which can be obtained from any local tax office. This code will allow the tax office to track the receipt of income in Sweden and the payment of tax fees.

Obtaining a bank account by legal entities requires providing additional documents. Thus, to register a company, you need to provide personal documents of the founders and official representatives. Banks may also require registration securities companies and certificate from tax service. In order to obtain a company bank account, in addition to the standard list of documents, you must provide a certificate of registration (certificate of incorporation), which allows you to engage in activities in the country.

Features of the Swedish banking sector

• Customer service is provided in Swedish and English languages. Some credit financial institutions, loyal to CIS citizens, provide services in Russian;
• Opening most types of accounts for individuals does not require any additional payments. However, transactions are subject to established by the bank commission;
• The list of documents for registration is issued in individually every non-resident. The list of documents is compiled based on the client’s citizenship, the purpose of opening an account, financial stability and the amount of the contribution;
• A non-resident who does not have official income in Sweden has the right to open a bank account, but his options will be limited. For example, such clients are not provided with Internet banking services and overdraft facilities.

Bank account in Sweden for deposits

The high percentage of profit on deposit attracts more and more new clients to Sweden. Banks offer interest rates up to 1.5% per annum, regardless of the currency of savings. It is worth noting that a deposit of more than 280 thousand US dollars not only does not have interest income, but is also subject to annual tax.

Famous banks in Sweden

Name	Peculiarities
Forex Bank AB	A well-known Swedish financial institution with branches throughout Europe. The bank has gained popularity all over the world due to favorable currency conversion.
	Serves more than 2 million people in the country. Offers to open corporate and investment banking accounts.
SkandiaBanken	It is a so-called Internet bank. All financial activities occur via the World Wide Web, and data is stored in the cloud.
	The bank operates as a branch of the Icano Group. Provides financial services almost throughout the European Union
Carnegia Investment Bank	One of the oldest banks in Sweden. Specializes in investment services and VIP banking.
Handelsbanken	One of the most famous banks in Sweden, has a subsidiary of the same name in Russia. Serves primarily corporate accounts around the world. Characterized by affordable service rates.
	Famous financial institution throughout Europe. It has a representative office in Russia, thanks to which the service is provided in Russian. The main direction of development is cooperation with business companies.
ScandinaviskaEnskildaBanken	provides retail, corporate and investment banking services for locals and foreigners. The bank is registered in Russia as OJSC SEB Bank. Serves business clients and individuals.

Help opening an account

UraFinance provides licensing services financial activities in offshore jurisdictions around the world. By contacting specialists, the client can solve any problem that has arisen and get an answer to his question.

The method of organizing an offshore business is determined based on the needs of the client. At the same time, UraFinance experts are ready to offer the execution of the operation as soon as possible

Deposits in Swedish kronor may be of interest to those who earn income in Sweden or plan to connect their lives with this country, despite the fact that their profitability is significantly lower than on deposits in rubles, dollars or euros.

The costs of converting rubles into Swedish krona and back, as well as fees for wire transfers, can significantly reduce profitability. Check these terms with your bank in advance.

Deposits in Swedish krona in Russian banks are covered by the state Deposit Insurance Scheme. Sum insured paid in rubles at the exchange rate of the Central Bank of the Russian Federation on the date of revocation of the bank’s license. The payment amount cannot exceed 700 thousand rubles. The client receives not only the deposit amount, but also interest for the time the money is actually in the bank.

As of spring 2014, almost all Russian banks do not accept deposits in Swedish kronor in large quantities, making an exception for wealthy clients, for example:

Deposit "Premium Reserve" at Promsvyazbank.

The deposit is valid only for wealthy clients. Minimum amount– 2 million Swedish kronor (more than 11 million rubles). For a deposit period of 367 days, the rate is 3% per annum.

Cities where the bank operates: in which cities the private banking service is available, please check with the bank.

Deposit "Universal" in Sberbank

The return on the deposit is symbolic – 0.01% per annum.

Keeping money in a foreign bank– an option on how to protect your funds from surprises in the domestic economy.

Reasons why you should open a deposit in a foreign bank

The main purpose of depositing abroad is the reliable preservation of funds. Rates abroad are low, mostly 1-2%, and only in some places – up to 5%. Western financial institutions have strict conditions for early termination of deposits, as well as high taxes on interest.

Many people set a high threshold for depositing funds (especially in Switzerland) – 10-25 thousand euros. The minimum guarantee amount (payment of compensation to the investor in the event of bankruptcy) according to European Union standards is at least 20,000 euros. In some countries it reaches 100,000 euros, for example, in Lithuania. Placing money abroad is beneficial for those who study or work there, as well as those who own a business or buy real estate.

Popular countries for deposits in Europe

For many years, Russians placed deposits in Cyprus. But after problems in the country's banking system, when many lost money, his popularity decreased. Placement of funds in the Baltic states is now common.

Also known among investors are countries such as Germany, Austria and Denmark, and the classic of the genre - Switzerland, where very low rates and a large minimum deposit. Deposits in foreign banks, the interest rates of which are very low, are considered as a way to safely store money, but not to earn money.

Deposits in foreign banks - TOP 10 most advantageous offers*

The proposal for deposits by country is as follows.

1. In Cyprus best offers reach 4.5% (individually up to 6%) per annum in $ - Bank of Cyprus, Cyprus Popular Bank Ltd, as well as AlphBank.
2. In Latvia, Citadele Bank is interesting, offering up to 3% per annum in $. BIGBANK announces up to 2.65% in euros.
3. USA: Edward and Jones Vanguard Group offer up to 2.96% in dollars.
4. In the UK, Bank of London and the Middle East announces up to 2.8% on sterling.
5. Italy. ING Direct Italia in euros – 1.4%.
6. Belgium - ING Belgium – 1.25% (euro).
7. Deposits in Germany: ING DiBa offers Euro rates of up to 1% per annum.
8. Sweden – Nordea raises funds at 1% in Swedish krona.
9. Netherlands. ABN AMRO for deposits in euros – up to 1% per annum.
10. Switzerland. Postfinance Bank – 0.15% per annum in Swiss francs. Of the deposits in Switzerland, this is the most advantageous offer, taking into account the costs of servicing the deposit. Credit Suisse has the highest rates in Switzerland (0.72%), but service costs exceed income.

Requirements for non-resident depositors

The main requirement of foreign financial institutions for non-resident investors is transparency of the source of origin of money. Therefore, the verification of this factor is very serious. You will need different types of certificates and statements, different from the usual documents accompanying the opening of a deposit.

Recommendations from a domestic bank are welcome if it is a subsidiary of a foreign one. Recommendations from business partners who collaborate with this institution will also be very helpful. If the depositor has a business in the country where the deposit is placed, this is a big plus.

A high minimum deposit threshold (thousands of dollars) excludes people with low and moderate incomes.

How to open a deposit in a foreign bank

To open an account in a foreign bank you must:

1. Select the appropriate country, bank (reliability rating “A”) and type of deposit.
2. Enter into correspondence to clarify the opening conditions (in person or with the help of intermediaries).
3. Collect necessary documents(personally or through intermediaries), have them translated, notarized.
4. Send documents to the bank.
5. Get a positive decision (or refusal).
6. If the decision is positive, sign the agreement by traveling abroad (for VIP clients, the bank can send its own clerk).
7. Place money.
8. Notify local authorities of all necessary information about opening an account abroad.

Requirements of domestic legislation

Starting from 2015, citizens who have placed funds abroad are required to submit a tax office information about the movement of funds in accounts. These reports must be accompanied by supporting documents translated into Russian and notarized.

The opening and closing of an account abroad must be reported to the tax office at your place of residence within a month (otherwise you will face a fine of 5,000 rubles).

You can transfer funds to the deposit only through Russian financial structures.

• Calculate all income/expenses so as not to end up at a loss. Low interest rates on deposits, as well as the cost of servicing it, commissions for transferring funds and withdrawing them, converting them, lead to the fact that when placing less than 50 thousand dollars, the investor may be in the red.
• If a foreign bank does not give consent and requests more and more documents, then in this way it tells the depositor that it is undesirable for them to place a deposit. Abroad, it is not customary to talk about this directly.

*Data update date – April 2015.

Sweden: Don't load currency in suitcases
From Belgium our correspondent went straight to Sweden. Looking back on the path we have traveled, we must admit that we paid too little attention Northern Europe. And in vain. The Scandinavian countries, due to their geographic proximity to Russia, have recently become an arena of active activity by domestic businessmen, although the “invasion of entrepreneurs” from the republics of the former Union creates certain problems for the Swedes and is not to everyone’s liking.

According to an employee of one of the Swedish banks, today the country has a not very flattering opinion about immigrants from the CIS and Baltic countries. The press, as he put it, “is buzzing like an agitated beehive.” A real campaign was launched in the newspapers for tightening control over money coming from the East. We have already noted in our previous publications that the fight against money laundering is intensifying in the West. According to reports from Sweden, a special law will soon be passed to prevent the use of Swedish banks for illegal transactions. The main provisions of this law will comply with the requirements of the EEC (Sweden is expected to join the European Community after some time). Such bills oblige commercial banks report to the competent authorities of their countries any transactions that raise their suspicions. And suspicions can cause major money transfers from countries with bad reputation or the use of Swedish bank accounts for transit transactions in favor of third countries. Moreover, even small amounts are considered “large”. According to a representative of one of the Swedish banks, all receipts exceeding SEK 50,000 (less than $7,000) should be reported to the Central Bank. In addition, as is known, the primary operation in the process of laundering funds obtained illegally or hidden from taxes is most often the deposit of cash into bank accounts. Therefore, banks in countries with traditionally strong banking controls are especially careful about these types of transactions. Now imagine how Swedish bankers must have felt when a stream of people with suitcases, or even just suitcases, stuffed with dollars poured into their country from Russia and the Baltic republics. As a result, today, as experts testify, some large Swedish banks, well aware that Russian citizens and companies can open accounts abroad only with permission Central Bank, require Russian individuals and legal entities to obtain an appropriate license. At the same time, the bank is often interested in the source of funds coming into the account. Of course, there are no rules without exceptions, and with due persistence you can find a bank where they will turn a blind eye to your citizenship, but in general the situation is not as favorable as in some other places. However, even if we ignore purely opportunistic issues, even then Sweden, in comparison with other countries, does not look very liberal. The country has strong traditions government regulation economy. Of course, no "anonymous" accounts are allowed in Swedish banks. On the contrary, for greater control, the account numbers of residents coincide with the numbers of their cards social insurance(social security number).
Let us return, however, to opening accounts. Swedish law allows non-residents to open accounts in local banks. A private person must present a passport and fill out a special form. Legal entities submit a certificate of registration. In addition, company representatives opening an account must have identification with them. In some cases, at the request of the bank, the company submits a balance sheet and other statements that give an idea of ​​its financial situation. In addition, some banks require references from both individuals and firms.
Accounts are opened for free, but for servicing corporate accounts an annual fee is charged, the amount of which depends on the number of transactions on the account. A transfer to another Swedish bank can cost up to SEK 70 (about $10), a transfer abroad SEK 50--300 ($7--40). Issuing a letter of credit will cost you 0.4-1.5% of the amount. For some services you have to pay quite a lot. For example, preparing a bank statement about payments made on an account for presentation to auditors or for other needs will cost approximately SEK 1,400 (approximately $190), a statement about a transaction made on your account more than six months ago - SEK 500 ($68), canceling or correcting an already completed operation - SEK 300 (more than $40).
Current and savings accounts are opened for clients. There is no minimum balance required to open a current account in kroons. However, if you open an account with foreign currency, you must deposit at least $25,000 or an equivalent amount in another currency.
Almost anyone with an account can get a checkbook or ATM card. A check can be written for any amount; There are restrictions on the ATM card - no more than SEK 2,000 at a time and no more than SEK 8,000 per week. To obtain a credit card, as in other countries, additional efforts are required. The bank may require you to provide information about your income, a reference (for example, from an employer) or a security deposit. According to a representative of one of the Swedish banks, the issuance credit cards to non-residents is not “usual practice”. The annual fee for using the card is approximately SEK 225 (about $30). A lost or stolen card can be placed on the “stop-list” by calling the 24-hour phone number. It will cost SEK 187 (about $25).
Checking accounts provide their owners with very little income, typically up to 2% per year. Savings accounts in Swedish krona earn an average of 6-8% per year. Maximum bet for accounts with a balance of at least SEK 100,000, the interest rate reaches 10% per annum.
Almost all Swedish banks have Asset Management Departments - asset management departments that provide clients with temporary placement services free funds in securities.
The client himself chooses the method of account management. You can send written instructions to the bank by mail, transmit instructions by fax or telex. In all cases, to protect the account from use by strangers codes apply.
More detailed information about the rules for opening and maintaining accounts in Swedish banks is available at commercial bank Escado, the first Russian bank to open a representative office in Stockholm.