Business-Based Immigration to Sweden
The country of Sweden is located in Europe, nestled between Norway and Finland. Sweden has long been a favorite travel destination for international tourists, who come to the nation in droves every year to shop in the “Kingdom of Crystal” from the world’s most famous glassmakers, to view the natural phenomenon that is the Northern Lights, and to visit the world-renowned Drottingholm Palaca and Theater, the Kunglia Slottet Palace, and the country’s numerous awe-inspiring castles and cathedrals.
Along with these many attractions, foreign investors in particular are interested in Sweden as the country boasts the eighth highest per capita income and the fourth most competitive economy in the world. The nation’s economy rests upon its successful timber, hydropower, iron ore, and engineering industries.
In order to welcome foreign investors, Sweden has enacted investment-based immigration programs designed to encourage skillful businesspeople and entrepreneurs to relocate to the country.
Sweden’s Self-Employed Residence Permits
Foreign nationals who are seeking to establish businesses in Sweden may qualify for the country’s Self-Employed Residence Permit (SERP).
In order to qualify, foreign nationals must prove that they possess significant experience in their field of expertise and past experience in running their own businesses. Additionally, they must also have demonstrable proficiency in the Swedish or English language, prove that they will be running the business in Sweden and will own at least half of the commercial enterprise, show how the commercial enterprise’s goods or services will be sold in Sweden, and possess sufficient money to support themselves and their families during the first two years of their stay in Sweden. Finally, they must also show that after the initial two-year period, the commercial enterprise will support them and their families.
Along with proof that the foreign national meets these requirements, the national should also enclose any of the following documents that are applicable to the case:
- Copies of the national’s passport pages
- Copies of the national’s bank statement
- The contract of sale if the national has purchased or intends to purchase an existing
commercial enterprise in Sweden, along with proof of purchase if the sale has been completed
- Copies of contracts with customers and/or suppliers for goods and services
- Copies of the national’s degrees and educational certifications
- Employment verification letters from the national’s previous employers
- Copies of any certificates of registration for companies the national owns (both inside and outside of Sweden)
Applicants must submit proof of these requirements to the Swedish Migration Board which will review the applicant’s business plans for their financial viability and likelihood of success. Once the application is approved, the foreign national and accompanying spouse and children can obtain their SERPs from the Swedish embassy in their home country.
Importantly, an SERP prevents the foreign national from working for any other employer in Sweden.
Swedish Permanent Residence Permits
After living in Sweden for five years, the foreign national and family are eligible to apply for permanent residence permits. After five years of permanent residence, they will be able to apply for Swedish citizenship.