What is an Sole trader?
Sole trader is Sweden’s simplest company type. The company is always connected to a person and suits you who alone wants to start a small business.
You as sole trader are personally responsible for contracts and for depts paid. You must also have business finances separate from your personal finances. Your Swedish social security number will be the company’s corporate identity and you as the owner called “innehavare” meaning holder.
The sole trader is simple with fewer procedural requirements than other types of company, you need, for example, no board, and can also make a ‘simplified’ financial statements so long as the movement has annual sales of over 3 million annually. We recommend our smallest Accounting Package Start-Up (link) for help with the start up of the accounts.
- There is no demand for a start-up capital or a board for sole traders
- Simplified accounting and reporting forms for tax and VAT
- You are personally responsible for the depts in order to avoid this start a Swedish Limited Company.
- All profits are yours after you have paid income tax to Skatteverket (The Swedish Tax Agency)
- You generally have less access to social protection with a sole trader. For example you cannot claim benefits such as sick pay or holiday pay
What we can do for you:
Advice Accounting help you with the administration required to register your individual company with the authorities and get started! We want to simplify the start-up process, which for many feels tricky! Order your company here online or call a corporate advisor and your business idea will soon be reality.
+46 8 12 20 41 51