Opening a bank account in Sweden

Sweden is a country with a stable economy and a developed banking system. It is, therefore, popular for immigration and for opening businesses, including branches of foreign companies. However, you cannot do without a bank account in Sweden. People need it to obtain residence permits and citizenship, make deposits, purchase property, etc. Legal entities open accounts to work freely with counterparties from the eurozone. Lawtter Solutions offers clients the opportunity to open a bank account in Sweden quickly and profitably.

The cost of the service

1 500 EUR*

Term for opening a bank account

1-3 months

Support

Multilingual

Account opening type

With personal visit

Opening an account

Basic information

More than 100 banks have a banking license in Sweden. The country’s financial regulator,

Finansinspektionen (FI), monitors compliance by organizations that serve local and foreign citizens and companies.

Non-residents in Sweden can open two types of accounts: payment accounts (with the subtypes Betalkonto, Privatkonto, Lönekonto, Transaktionskonto, or Personkonto) and savings accounts. Sweden offers quite high deposit rates, so savings accounts are popular there. Foreign citizens can also get a bank card.

Legal entities can open an account in Sweden to conduct business activities abroad. The country does not offer offshore accounts. Registration can take place online, but you must visit a branch of a financial organization for verification. It is not possible to pass it while abroad.

Advantages of opening a bank account with a Swedish bank

Many people and companies seek to open a bank account in Sweden because it allows you to get a number of advantages. The main ones are as follows:

1

Sweden is a member of the European Union

Because of this, all transactions within the eurozone will be fast and have low fees.
2

Stability

Sweden has a stable political situation, economy, and banking system. Political and economic shocks are extremely rare, so money in this country is safe.
3

State guarantees

The state guarantees protection of deposits and compensation to depositors if the bank is declared bankrupt or loses its license.
4

Comparatively low fees

The cost of account maintenance and transaction fees in Swedish banks is lower than in financial institutions of a number of other eurozone countries.
5

Affordable lending

Swedish banks offer customers the opportunity to obtain loans. Interest rates here are also among the most attractive in the eurozone.