Sweden client case studies in 2024
Japan-headquartered battery manufacturing conglomerate establishes Sweden branch
Background
- Our client contacted Healy Consultants Group in late 2018 for our assistance to establish a fully-fledged trading business in Sweden;
- A broad strategy was devised by our team, comparing a Limited Liability Company with branch office. A tailored proposal was then prepared and delivered to the client on the same day, and the Client opted for the branch office proposal;
- The Client was given a list of documents that Healy Consultants Group would require to complete branch office setup. Our team also prepared an invoice, and sent this to our Client.
Engagement planning
- Upon receiving the green light from the Client as well as payment, Healy Consultants Group expanded on the engagement strategy, mapping out a detailed Engagement Project Plan outlining the specific steps, as well as timeframes, to engagement completion;
- Healy Consultants Group prepared a checklist of documentation required from the parent company for the legal setup of the branch. This included i) corporate registration documents ii) two years financial statements iii) organisational chart iv) a power of attorney appointing the Client’s preferred managing director for the branch office and v) attested passport copies.
Branch office registration
- Our Client signed the branch registration form which was pre-filled by Healy Consultants in Swedish;
- Over the following three weeks our team compiled remaining documents, and these were then couriered directly to the Swedish Companies Registration Office (Bolaksverket);
- Within four days of receiving the original signed application and supporting documentation, Healy Consultants obtained the ‘organisationsnummer’ for the new entity.
Tax registration
- Healy Consultants Group’s team compiled and emailed our Client a checklist of documents and information needed to advance ‘F-skatt’ registration with the Swedish Tax Agency (Skatteverket);
- Information requested included i) details about customers and suppliers ii) expected annual turnover and iii) expected number of employees, their positions and salaries over the next 12 months;
- Due to the size of our Client’s organisation, we advised our Client that there was a small probability the Swedish Tax Agency may revert to request for a tax clearance certificate from our Client’s home country, as evidence that the company was financially sound and had no outstanding debts;
- Our Client couriered the complete signed ‘F-skatt’ registration directly to Skatteverket, who processed and approved the corporate tax number within 10 days. It was not necessary to submit tax clearance.
Corporate bank account opening
- Healy Consultants Group prepared a high quality business plan to support smooth bank account opening. The plan included all information banks require when onboarding new clients;
- Our team took two approaches to the bank account opening for our client: i) leveraging Healy Consultants Group’s bank network directly to generate interest in the Client’s business and ii) leveraging our multi-national Client’s existing banking relationships to obtain professional referrals between banks to support bank account opening;
- Healy Consultants Group successfully obtained a corporate bank account for the client within specified timeframes and budget. Nobody from the Client’s parent company was required to travel for account opening.
Engagement completion
The client requested Healy Consultants Group’s future in-country assistance, including i) ongoing government renewals and ii) provision of legal registered office services.
