Asset management license in Sweden

Charges of third-party funds supervisors include distributing, maintaining and organizing the accounting of assets of fund-structured or other organizations with a view to increasing them. If the Swedish Financial Instruments/Accounts Act applies to such assets, their register is processed by the Swedish Central Securities Depository. Business-activities connected with acceptance and controlling of any type of assets are permitted only with corresponding permission.

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Overview of asset management licensе in Sweden: key regulatory parameters

If a company’s share register is maintained by an entity other than the Swedish central securities depository, permission from Finansinspektionen (Financial Inspection) (nominal permit) is needed to register as an asset manager.

When transferring asset management to specific firm authorized as manager of such assets or shares, the specified manager may be entered in the register instead of the shareholder. It is important that the register clearly indicates that the share in the fund is being managed on behalf of another person.

If the shareholder register is maintained by an entity other than Central Securities Depository, supervisory authorities are in charge of granting the permission needed to register as funds managing party. Permission to register as a manager may be granted subject to special conditions in order to protect public and private interests.

Supervision Authority might approve asset management license in Sweden with mext-mentioned powers:

• the right to receive and transmit orders for one or more financial instruments in accordance with Swedish Law or rights to execute orders at the direction of clients;
• as an additional service – holding corresponding instruments for customers and receiving assets with accounting obligations, with exception of providing top-level securities accounts.

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To get asset management license in Sweden: what is required

In order to obtain asset management license in Sweden and for supervision authority to review your application, you need to submit next-mentioned data.

1. Provide a statement indicating the request is for permission to be officially-registered.
2. Name and registration number of enterprise applying for authorization.
3. Describe in detail any existing permits the applicant has.
4. Justify why the applicant needs permission to carry out its activities.
5. Explain how the authorization will be used in the business, including procedures for informing clients.
6. Provide data about applicant’s technical systems for managing deposits and the shareholder register, including a detailed description of process for adding restrictions to shareholder register, as well as information about mortgaged property or trustees under family law.
7. Explain the procedures for reconciling assets with management company’s registration, particularly, regular reconciliations of assets and completed transactions.

If entity submitting the application is a foreign institution, provide a detailed description of how client’s funds are protected and right to separation is exercised.

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Opening a firm in Sweden

Before you can implement your idea to obtain asset management license in Sweden, you need to launch a firm locally. This procedure involves choosing a suitable form of ownership, and the characteristics of each of them should be taken into account.

Open joint stock organization

1.  Ideal for large businesses.
2. Minimum initial capital is 60 thousand euros.
3. Management is implemented by board of directors.
4. Key decisions are made at the shareholders meeting.

Private limited firm

1. Suitable for small or medium businesses.
2. Minimum capital must be at least 18 thousand euros.
3. Registration is available for 2 owners.
4. Management is carried out at the general meeting.

Next-mentioned forms of entrepreneurial activity are also possible for foreign businessmen:

• individual entrepreneurial activity: suitable for individuals wishing to conduct business on their own behalf;
• partnership and representation of the institution abroad: provides various options for cooperation and representation in other countries.

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Apply for authorization

Firms providing such services are required to apply for permission from supervision authority to carry out their activities. During the application process, a review of the company’s capital, business plan, owners and corporate governance is carried out. Company’s operations may need supplementary licenses from the FI.

1. The application is accepted and receives a unique number.
2. The administrator responsible for completing the task provides an acknowledgment with a unique number (written or verbal) notifying that the application has been received by FI.
3. After paying the registration fee, the administrator checks the application for completeness and correctness of the data.
4. If some information is missing, the FI may request additional data, and sometimes information from other authorities is also needed.
5. The assessment process may involve regulators with different areas of expertise.
6. Once your application is completely completed and in accordance with normative points, the FI will make a decision. A copy of the decision is sent to you, and all information related to the task is recorded in the regulator’s register.

If you wish to submit materials to Swedish regulative authorities, please use services of our experts. We guarantee to process your request within the specified time frame. Our lawyers will also provide you with comprehensive assistance when transferring a Sweden asset management licensed company for sale.

Advantages of starting a business in Sweden

1. High level of development of the country.
2. One of the lowest tax burdens among European countries for legal entities.
3. Opportunity to invest, acquire and sell companies without the need to obtain Swedish resident status.
4. A simple business registration system.
5. Reliable banking system.
6. Competitive and open economy.
7. Low level of corruption.
8. Transparency in the work of government bodies.
9. Ease and reliability in establishing trade relations.
10. Possibility of obtaining a residence permit.

Services of our experts

Our company specializes in providing services for obtaining permits in other jurisdictions and offers a number of significant benefits to clients.

1. Our experts have a deep understanding of legislation and licensing normative points, providing highly-professional support at all stages of getting such permits in other jurisdictions.
2. We provide customized advice tailored to each company’s unique needs and characteristics.
3. The company offers a full range of services, including preparation of necessary documents, interaction with regulatory authorities and advice on compliance with all standards.
4. Ready-made asset management license in Sweden for sale and in other countries.
5. Our lawyers maintain excellent relationships with regulators, ensuring more efficient communication and reducing the time required to obtain a license.

Thanks to our experience and professional approach, we help clients speed up the process of getting asset management licensed company for sale in Sweden and optimize costs. We possess many offers for sale of ready-made licenses for asset management in Belgium, Latvia, Portugal and other countries.