Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to FI's decision, including banking and payment rails.
Get an investment license in Sweden.
A market of 10.6 million people under a statute that prints its own numbers: lag (2007:528) om värdepappersmarknaden gives Finansinspektionen the licence of 2 kap. 1 § for a Swedish aktiebolag with a board of at least three, capital under 3 kap. 6 § of €75,000 without client assets, €150,000 in the general case, €750,000 for dealing or underwriting and €5,000,000 for a firm that takes money on account, and an application fee of SEK 975,000 under förordning (2001:911). FI says it decides within six months of a complete, paid application. Fund managers are licensed separately at €125,000, with a three-month clock for an AIF-förvaltare that FI may extend by three. Corporate tax is 20.6%. We build the file from Stockholm, and the passport reaches 30 EEA states.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Sweden in brief
Four capital tiers, one printed fee and a six-month promise from FI.
Sweden licenses the investment firm as a värdepappersbolag. Under 2 kap. 1 § of lag (2007:528) om värdepappersmarknaden, värdepappersrörelse needs Finansinspektionen's tillstånd for nine services - order reception and transmission, execution, own-account dealing, portfolio management, advice, underwriting and placing, MTF and OTF operation - with custody and money on account as sidotjänster under 2 kap. 2 §. The applicant is a svenskt aktiebolag (3 kap. 1 §) with a board of at least three, a CEO who does not chair it and an auktoriserad revisor (3 kap. 5 §). 3 kap. 6 § sets the capital in four steps. €5,000,000 for a firm that takes money on account or falls under 1 kap. 2 § 7 g of lag (2014:968); €750,000 for own-account dealing or firm-commitment underwriting; €150,000 otherwise; €75,000 for a firm limited to services 1, 2, 4, 5 or 7 that holds no client money or securities.
FI states the clock itself: a decision within six months, provided the application is complete and the fee is paid. The act prints that six-month wording in 4 kap. 7 §, for third-country branches; for a Swedish applicant the period is FI's administrative commitment rather than a statutory clock. The fee is not in doubt. Förordning (2001:911) puts tillstånd att driva värdepappersrörelse in class T at SEK 975,000, payable before processing starts (6 §); a fondbolag pays SEK 525,000, an AIF-förvaltare SEK 690,000 under 3 kap. 1 § LAIF, a registered sub-threshold manager SEK 33,000. Every client is covered to SEK 250,000 by Investerarskyddet under lag (1999:158). FI publishes no count of licensed firms. Corporate tax is 20.6%, VAT 25% with financial services exempt, and dividends to non-residents carry 30% kupongskatt before treaty relief. We build the file from Stockholm.
A 10.6 million market under a statute that prints its numbers: FI's licence under 2 kap. 1 § lag (2007:528) - 3 kap. 6 § capital €75k/€150k/€750k/€5m, fee SEK 975,000, six months from a complete paid file on FI's statement, fondbolag and AIF-förvaltare at €125k, the 30-state passport.
20.6% corporate tax, 30% kupongskatt before treaties, Investerarskyddet SEK 250,000. Board of three, fee paid first. Built end to end from Stockholm.
The two builds
The värdepappersbolag - or the fund manager under LVF and LAIF.
Two FI licences under three acts: the värdepappersbolag under 2 kap. 1 § lag (2007:528) at €75,000-€5,000,000 by service set with a SEK 975,000 fee, and the fondbolag or AIF-förvaltare at €125,000 with fees of SEK 525,000 and SEK 690,000. We fix the act before the file.
The 2 kap. 1 § värdepappersbolag - or the €125k fund manager.
01 - VÄRDEPAPPERSBOLAG
The 2 kap. 1 § investment firm
Tillstånd att driva värdepappersrörelse for the nine services of 2 kap. 1 § - with 3 kap. 6 § capital at €75,000 for services 1, 2, 4, 5 or 7 without client money or securities, €150,000 as the general tier, €750,000 for own-account dealing or firm-commitment underwriting (services 3 and 6), €5,000,000 where money is taken on account.
Tillstånd att driva värdepappersrörelse for the nine services of 2 kap. 1 § - with 3 kap. 6 § capital at €75,000 for services 1, 2, 4, 5 or 7 without client money or securities, €150,000 as the general tier, €750,000 for own-account dealing or firm-commitment underwriting (services 3 and 6), €5,000,000 where money is taken on account.
- ✓2 kap. 1 § services 1-9 · custody under 2 kap. 2 §
- ✓€75,000 - no client money or securities
- ✓€150,000 - the general tier
- ✓€750,000 - services 3 and 6 · €5,000,000 money on account
- ✓Fee SEK 975,000 - class T, förordning 2001:911
- ✓6 months from a complete, paid file - FI's statement
02 - FONDBOLAG · AIF-FÖRVALTARE
€125,000 initial capitalThe fund manager under LVF and LAIF
The fondbolag under 1 kap. 4 § lag (2004:46) at €125,000 with a six-month clock, or the AIF-förvaltare under 3 kap. 1 § lag (2013:561) at €125,000 external and €300,000 internal (7 kap. 1 §), decided in three months plus three under 3 kap. 8 § - with discretionary portfolio management, advice and custody added on request under 3 kap. 2 §.
Fondbolag under LVF or AIF-förvaltare under LAIF at €125,000 (€300,000 internal), fees SEK 525,000 and SEK 690,000, three plus three months for an AIFM.
- ✓Fondbolag 1 kap. 4 § LVF · fee SEK 525,000
- ✓AIF-förvaltare 3 kap. 1 § LAIF · fee SEK 690,000
- ✓€125,000 external · €300,000 internal
- ✓3 + 3 months for an AIFM (3 kap. 8 § LAIF)
- ✓Registration only below €100m / €500m - SEK 33,000
- ✓Annual FI fee from SEK 150,000 · registered SEK 15,000
Costs and timelines are confirmed for your case before any work begins. The SEK 975,000 fee is class T of förordning (2001:911) as amended by SFS 2026:980 and is paid before FI starts; the annual fee under förordning (2007:1135) follows the balance sheet, and the minimum for a firm that does not run an MTF is itemised in your quote.
Why Sweden
The numbers Sweden prints, and the one it does not.
Sweden sells a 10.6 million market behind a statute that states its capital, its fee and its compensation cover in figures - and a regulator that states its clock in words.
✓
A market of 10.6 million
SCB counted 10,610,500 people registered in Sweden at mid-2026 - the client base one licence reaches before the other 29 EEA states are notified.Before any passport.
✓
Capital in four printed tiers
3 kap. 6 § sets €75,000, €150,000, €750,000 and €5,000,000 by service set - the IFR art. 9 ladder transposed verbatim, with the CRR tier kept for firms that take money on account.3 kap. 6 §, verbatim IFR.
✓
A fee you can read
SEK 975,000 for värdepappersrörelse, SEK 525,000 for a fondbolag, SEK 690,000 for an AIF-förvaltare, SEK 33,000 for a registration - every figure in the bilaga to förordning (2001:911).SEK 975,000, class T.
✓
Investerarskyddet at SEK 250,000
Riksgälden covers securities and cash held in investment services to SEK 250,000 per client and institution under lag (1999:158) - well above the €20,000 floor of Directive 97/9/EC.Riksgälden's Investerarskyddet.
✓
20.6% and a 30% headline
Bolagsskatt at 20.6% on the firm's profit; kupongskatt at 30% on dividends to non-residents, cut by treaty, with the EU FASTER relief system due from 2030.Firm and dividend.
✓
The clock FI states and the count it does not
FI promises six months from a complete, paid application, but for a Swedish applicant that is FI's administrative commitment rather than a statutory clock, and FI publishes no count of licensed firms. The fee is paid first and the board must be three deep. Budget for Swedish substance.FI's promise, not a paragraph.
How it compares
How Sweden differs from other routes.
The honest comparison: printed capital and a printed fee - against Nordic neighbours with a lower rate, a smaller fee or an older capital ladder.
Sweden vs other jurisdictions
| Feature |  Sweden | Other jurisdictions |
|---|---|---|
| Regime | Lag (2007:528) · 2 kap. 1 § - Finansinspektionen | Fondsmæglerselskab act 2021 Denmark · vphl. Norway |
| Capital | €75k / €150k / €750k / €5m - 3 kap. 6 § | Denmark § 18 same IFR tiers · Norway still €50k / €125k / €730k |
| Passport | 30 EEA states · registered AIFM none | Denmark investeringsrådgiver none · Norway EEA passport |
| Timeline | 6 months from a complete, paid file (FI) · no stats | Denmark 6 months, 12 absolute (§ 22) · Norway 6 months |
Regime
SwedenLag (2007:528) · 2 kap. 1 § - Finansinspektionen
Other jurisdictionsFondsmæglerselskab act 2021 Denmark · vphl. Norway
Capital
Sweden€75k / €150k / €750k / €5m - 3 kap. 6 §
Other jurisdictionsDenmark § 18 same IFR tiers · Norway still €50k / €125k / €730k
Passport
Sweden30 EEA states · registered AIFM none
Other jurisdictionsDenmark investeringsrådgiver none · Norway EEA passport
Timeline
Sweden6 months from a complete, paid file (FI) · no stats
Other jurisdictionsDenmark 6 months, 12 absolute (§ 22) · Norway 6 months
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Sweden | Värdepappersbolag - FI | 20.6% CIT | 3 kap. 6 § €75k-€5m, fee SEK 975,000 |
 Denmark | Fondsmæglerselskab - Finanstilsynet | 22% CIT · 26% financial | § 18 €75k-€750k, A/S, § 22 clock, 59 firms |
 Finland | Sijoituspalveluyritys - FIN-FSA | 20% CIT · 18% proposed 2027 | IFR tiers, 171 firms, 90% cover to €20,000 |
 Norway | Verdipapirforetak - Finanstilsynet | CIT confirmed per case · VAT 25% | vphl. § 9-39 €50k-€730k, 6 months, no fee |
SwedenLicense typeVärdepappersbolag - FI
Taxation20.6% CIT
Requirements3 kap. 6 § €75k-€5m, fee SEK 975,000
DenmarkLicense typeFondsmæglerselskab - Finanstilsynet
Taxation22% CIT · 26% financial
Requirements§ 18 €75k-€750k, A/S, § 22 clock, 59 firms
FinlandLicense typeSijoituspalveluyritys - FIN-FSA
Taxation20% CIT · 18% proposed 2027
RequirementsIFR tiers, 171 firms, 90% cover to €20,000
NorwayLicense typeVerdipapirforetak - Finanstilsynet
TaxationCIT confirmed per case · VAT 25%
Requirementsvphl. § 9-39 €50k-€730k, 6 months, no fee
Before you apply
Requirements for the Swedish licence.Requirements for the licence.
FI reviews under 3 kap. lag (2007:528), FFFS 2017:2 and Delegated Regulation (EU) 2017/1943, and its six-month promise runs only from a complete application with the fee paid. The checklist below is what a passing application contains.
01
Swedish aktiebolag - the applicant must be a svenskt aktiebolag (3 kap. 1 § 1); it may file before registration if the stiftelseurkund is under six months old (3 kap. 8 §).
02
Initial capital - €75,000, €150,000, €750,000 or €5,000,000 under 3 kap. 6 § by service set, composed under IFR art. 9 or CRR art. 72 as the tier requires.
03
Board of three - at least three ledamöter (3 kap. 5 §), the CEO not chairing without FI's exemption, and at least one auktoriserad revisor.
04
Ledningsprövning - board, CEO and qualifying owners assessed by FI in its ägarledningsprövning before the licence issues.
05
Business plan - the plan of 3 kap. 1 § on the content of Delegated Regulation (EU) 2017/1943, following FI's guide to that regulation.
06
Control functions - compliance, risk control and internal audit under 8 kap. and FFFS 2017:2 with Delegated Regulation (EU) 2017/565.
07
Prudential machinery - IFR arts 11-13 through 3 kap. 7 § and lag (2014:968): K-factors, a quarter of fixed overheads or the permanent minimum, live from day one.
08
Investerarskyddet - membership of the scheme run by Riksgälden under lag (1999:158), covering clients to SEK 250,000.
09
The fee - SEK 975,000 in class T of förordning (2001:911), paid as FI directs before processing starts (6 §).
10
Client assets - client money and instruments held separately under 8 kap. and FFFS 2017:2 where the service set holds them; a firm that holds none qualifies for the €75,000 tier.
01
Svenskt aktiebolag.
02
Capital per 3 kap. 6 §.
03
Board of three.
04
FI ledningsprövning passed.
05
Plan per Regulation 2017/1943.
06
Functions per FFFS 2017:2.
07
IFR own funds live.
08
Investerarskyddet member.
09
SEK 975,000 paid first.
10
Client assets separate.
Reflects lag (2007:528) as amended to SFS 2026:1066, LAIF, förordning (2001:911) and IFR/IFD as of 2026.Lag 2007:528 + LAIF + förordning 2001:911, as of 2026.
How it works
From first call to FI's register.
01
Act and tier
Lag (2007:528), LVF or LAIF decided, services fixed under 2 kap. 1 §, tier chosen - €75k, €150k, €750k or €5m - in writing before drafting.2007:528, LVF or LAIF.
02
Company and board
Swedish aktiebolag, capital paid, three board members and the owners ready for FI's ledningsprövning.Three ledamöter.
03
The application and the fee
Business plan, organisation and policies to FI's guide - complete at filing, SEK 975,000 paid, so FI's six months actually start.Complete, paid, clock starts.
04
FI review
Six months from a complete, paid application on FI's own statement; question rounds in between.Six months, FI's word.
05
Licence and passport
Företagsregistret entry, Investerarskyddet membership, EEA notifications - 30 markets open.30 markets open.
Quick facts
RegulatorFinansinspektionen
LicenceVärdepappersrörelse, 2 kap. 1 §
No client assets€75,000
General tier€150,000
Dealing · underwriting€750,000
Application feeSEK 975,000 (class T)
Clock6 months - FI's statement
Corporate tax20.6%
FI publishes no processing statistics and no count of licensed firms - so the honest plan is FI's six months plus the time it takes to make the file complete and the SEK 975,000 land.
On the ground in Sweden
Run from our Stockholm office.
Prifinance - Sweden
Stockholm · Sweden
Stockholm, Sweden
01
Company and capital
Svenskt aktiebolag with a three-member board and the 3 kap. 6 § tier paid - the licence conditions of 3 kap. 1 § closed before the file opens.3 kap. 1 § closed.
02
The FI file
Business plan, organisation and policies drafted to FI's guide to Regulation 2017/1943 and FFFS 2017:2 - and defended through FI's question rounds.To FI's guide.
03
Board and owners
Three ledamöter, a CEO and qualifying owners prepared for FI's ledningsprövning - sourced from Stockholm's regulated-firm bench.Three, prövning-ready.
04
Passporting and launch
Investerarskyddet membership, safeguarding accounts and EEA notifications at one month for services and three for a branch - with our Tallinn head office an hour's flight across the Baltic.30 states at launch.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in Sweden.
A 20.6% rate on the firm, a 30% headline on the dividend and a 25% VAT the mandate never sees.
Bolagsskatt 20.6%
Statlig inkomstskatt for legal persons is 20.6% for income year 2026, per Skatteverket - the number to model for the värdepappersbolag.Bolagsskatt.
Kupongskatt 30%
The main rule is 30% withheld on dividends paid to non-residents, reduced under tax treaties; the EU FASTER directive is to apply from 2030.Treaty relief.
Moms 25%
The general rate is 25% with 12% and 6% reduced rates; bank, financing and securities-trading services are exempt under mervärdesskattelagen, so overheads carry VAT and mandates do not.Finance exempt.
The FI fee, twice
SEK 975,000 once, at application, then the annual fee under förordning (2007:1135) on the balance sheet - a minimum of SEK 750,000 for a firm that operates an MTF, SEK 150,000 for a fondbolag or AIF-förvaltare.975,000 then annual.
Investerarskyddet
Financed by fees from member institutions - banks, värdepappersbolag, fondbolag and AIF-förvaltare providing investment services - and paid to Riksgälden.Member fees.
No sector levy on the firm
The riskskatt för kreditinstitut falls on banks only; an investment firm pays FI's fees and the Investerarskyddet fee and nothing else on the licence.Riskskatt is banks'.
Tax summary
Corporate tax20.6%
Dividend withholding30% · treaty relief
VAT25% · finance exempt
Application feeSEK 975,000
Annual FI feeBalance-sheet based
*Figures as of 2026 per Swedish law and Skatteverket. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Swedish aktiebolag, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
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Sweden · Finansinspektionen värdepappersrörelse licence
Launch your investment firm in Sweden with expert support.
Full-service assistance - from the Swedish aktiebolag and the FI file to the värdepappersrörelse licence, the three-member board, passporting and ongoing compliance - run through our Stockholm office.
Get a consultation →Free legal opinion
Is Sweden the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Swedish investment licence, answered.
Which licence does an investment firm need in Sweden?+
Tillstånd att driva värdepappersrörelse from Finansinspektionen under 2 kap. 1 § lag (2007:528) om värdepappersmarknaden, for the nine services from order reception to OTF operation, with custody and money on account as sidotjänster under 2 kap. 2 §. Fund managers need a fondbolag licence under LVF or an AIF-förvaltare licence under LAIF instead.
What capital does 3 kap. 6 § require?+
€75,000 for a firm limited to services 1, 2, 4, 5 or 7 of 2 kap. 1 § that holds no client money or securities; €150,000 otherwise; €750,000 for own-account dealing or firm-commitment underwriting (services 3 and 6); €5,000,000 for a firm that takes money on account. A fondbolag or external AIF-förvaltare needs €125,000, an internal one €300,000.
How long does FI take?+
FI states that it decides within six months, provided the application is complete and the fee is paid. For a Swedish applicant that is FI's administrative commitment rather than a statutory clock - the act's six-month wording, 4 kap. 7 §, covers third-country branches - and FI publishes no processing statistics. Completeness at filing is the only lever.
What does the licence cost at FI?+
SEK 975,000 for värdepappersrörelse covering 2 kap. 1 § 1-7, class T in the bilaga to förordning (2001:911), paid before processing starts; SEK 525,000 for a fondbolag, SEK 690,000 for an AIF-förvaltare, SEK 33,000 for a sub-threshold registration. The annual fee under förordning (2007:1135) follows on the balance sheet.
Who has to be in place?+
A board of at least three members (3 kap. 5 §), a CEO who does not chair it without FI's exemption, an auktoriserad revisor, and qualifying owners - all assessed in FI's ledningsprövning and ägarprövning. The act prints no residency rule and no staff minimum; the organisational rules of 8 kap. and FFFS 2017:2 set what the functions must do.
Is there a lighter Swedish route?+
Not for advice: Sweden has no MiFID art. 3 adviser regime on FI's pages, and advice is service 5 of 2 kap. 1 §. What exists is the anknutet ombud under 6 kap. for a person acting for one licensed firm, and the registered AIF-förvaltare under 2 kap. 2-3 § LAIF below €100 million, at SEK 33,000.
Does the licence passport across the EEA?+
Yes - the full MiFID passport into 30 EEA states under 5 kap. lag (2007:528), one month for services and three months for a branch under MiFID II arts 34-35. Inbound firms use 4 kap.; a third-country branch is decided within six months of a complete application under 4 kap. 7 §.
How are Swedish investment firms taxed?+
20.6% bolagsskatt on profit, 30% kupongskatt on dividends to non-residents before treaty relief, 25% moms with financial services exempt, FI's annual fee on the balance sheet and the Investerarskyddet fee. The riskskatt applies to credit institutions, not to a värdepappersbolag.
Sweden or Denmark for a new firm?+
Denmark is cheaper to enter - no printed application fee, a § 22 clock with a 12-month backstop - but taxes at 22%, 26% for financial companies, and covers investors to €20,000. Sweden charges SEK 975,000 up front, taxes at 20.6% and covers SEK 250,000. Copenhagen for the lean start; Stockholm for the larger market and the lower rate.
Why Prifinance for Sweden?+
A Stockholm office for the FI file, a three-member board and qualifying owners prepared for ledningsprövning before filing, and the SEK 975,000 fee sequenced so FI's six months start on day one. Our Tallinn head office is an hour's flight across the Baltic, and Investerarskyddet membership and the EEA notifications run as part of launch.
Which licence?+
2 kap. 1 § värdepappersrörelse.
Capital?+
€75k/€150k/€750k/€5m.
How long?+
Six months, FI's statement.
Fee?+
SEK 975,000 first.
People?+
Board of three.
Lighter route?+
None for advice.
Passport?+
30 EEA states.
Taxes?+
20.6%, WHT 30%.
Or Denmark?+
Cheaper entry vs lower rate.
Why you?+
Stockholm office, Tallinn HQ.
Client notes
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of Finansinspektionen or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.