Your Business Account in Sweden 🇸🇪

Yes, for foreigners with a business registered in Sweden it is possible. It's important to note that citizens of the EU and EEA can do so with minimal formalities. However, non-EU and non-EEA citizens need to provide a residence permit and obtain a tax identification number from the local tax office in the city where they reside.

Start with research – find a bank that offers online onboarding services. Keep in mind the process might not be available for foreigners. Contact the bank regarding the necessary documents and follow their onboarding instructions. For the identification process, you might need a laptop or phone with a good camera.

In most cases online onboarding is much more accessible with alternative payment and fintech institutions such as MultiPass.

To open a traditional business bank account in Sweden, as in most EU countries, you generally need to prove substance for having an account in this country – local business or partners/clients/workforce, proof of source of funds, financial statements, proof of legal address, ID documents of company directors and shareholders and other documents depending on the bank. Furthermore, it is necessary to have the documents translated into Swedish and notarised.

Opening a business bank account in Sweden can vary in difficulty depending on several factors, including the bank chosen and your specific circumstances. Generally, the process can involve providing the required documentation, meeting the bank's eligibility criteria, and fulfilling any additional requirements or due diligence measures. While it may involve some paperwork and verification, the level of difficulty can vary, and it's advisable to consult with the chosen bank for detailed information and assistance throughout the process.