Author: AdmaD

Reasons to Invest in Sweden

UPDATED AUGUST 20, 2020

Sweden and Singapore continue to top the rankings of The Global Information Technology Report 2020, Transformations 2.0, released by the World Economic Forum.

 

Sweden Economy

Sweden hosts one of the most internationalized economies in the world. Whether judged by international trade and investment flows or the extensive presence of Swedish businesses abroad and foreign companies in Sweden, Sweden ranks among the top ten countries in most comparative assessments.

Sweden Investment Climate

The US Department of State has recently made an assessment of the Investment Climate of Sweden. In brief, it is a very positive summary. Recommended for everyone with an interest of doing business in Sweden.

It is the Bureau of Economic, Energy and Business Affairs that have published a statement on the Swedish investment climate. Here are some highlights:

• • Sweden offers an extremely competitive, largely corruption-free economy with access to new products and technologies, skills, and innovations. As the largest market in the Baltic Sea region, it is an attractive location and gateway to Northern Europe/the Baltic Sea region.
  • Sweden’s taxation structure is straightforward and corporate tax levels are low. Sweden has a corporate tax of 26.3 percent in nominal terms. The effective rate can be even lower as companies have the option of making deductible annual appropriations to a tax allocation reserve of up to 25 percent of their pretax profit for the year.
  • Sweden’s labor force of 4.6 million is disciplined, well educated, and experienced in all modern technologies. About 71 percent of the workforce belongs to labor unions. Swedish unions have helped to implement business rationalization, and strongly favor employee education and technical progress. Management labor cooperation is generally excellent and non-confrontational.
    

    Innovation

    Sweden is the leading country of the EU nations in regard to innovative ability, according to Innovation Union Scoreboard 2010. This is an annual report by Pro Inno Europe.

    Stockholm, the capital of Sweden, is the world leader in areas of innovation, health, and security according to a new study from PwC and Partnership for New York City. Stockholm climbs five places in the rankings and ends up as number four in total.

    Sweden has an impressive track record as a leading supplier of innovative solutions and products in a wide range of industry sectors on a global scale. The Swedish culture is open-minded and readily embraces new ideas and technologies.

    Market

    In Sweden, you get access to the prospering domestic and Scandinavian markets, but also the world’s largest free-trade market – the European Union – with 27 countries and 500 million consumers. The country is known for adopting new technologies and setting new consumer trends.

    Easy to do business

    Sweden is the Most Respected Country in the WorldReputation Institute Releases Results of its 2010 Country Reputation Study.

     

    Effective Government

    Effective Government offers a favorable environment for doing business, run by an effective government, adopted progressive social and economic policies, and a responsible participant in the global community

    • Advanced Economy – produces high-quality products and services, an inventive country, technologically advanced, an important contributor to global culture

    • Appealing Environment – a beautiful country, an enjoyable country, offers an appealing lifestyle

    Sweden a country people will recommend as a place to visit, invest, live and work,” says Nicolas Trad, Managing Partner of Reputation Institute, a global, private advisory firm specializing in corporate reputation management.

    Sweden has an international business environment, modern, open minded and business-friendly.  Sweden has skilled professionals, easy business procedures and open to international partnerships, Sweden is an easy country to operate in.  To start a company in Sweden is quick and straightforward. Information about the process and necessary forms are readily available online and in English.

    High productivity

    Empowerment of personnel and delegation of decision-making ensures a bottom-up; problem-solving approach that shows impressive results with regards to productivity. Sweden has a long track record of very high productivity, even though there are generous labor regulations regarding vacations, parental leave etc.

    Location

    Sweden is a prime location for centralized market operations in Northern Europe. And the preferred choice for regional headquarters and multi-country distribution centers, contact centers and shared service centers. It is the only country that offers 24-hour distribution to all major destinations in the region, with advanced distribution and communication infrastructure from ten logistics hubs.

    Education and Training

    The Swedish education system enjoys a very good international reputation. Virtually any Swede has ample knowledge of foreign languages and especially English. Exceptional study programs and in-house training have created a successful climate between students and the local trade and industry. University and high-school education is readily available in the region.

    Modern workplace

    Highly skilled labor, high female participation in the workforce and a consensus on economic restructuring, Sweden has a good platform for a globalized world. The workforce participation of elderly people is high. Workplace education and training, a delegation of authority, and inclusion in decision-making helps spur innovation and growth.

    Research & Development

    Sweden’s science infrastructure is world-class. High investment in higher education and basic research has propelled Sweden to a prime position among European economies in terms of university enrollment, workforce skills and R&D. Synergies generated by the close connection between Swedish universities, research institutes and the private sector further leverage the R&D output. R&D conducted by multinationals in Sweden exceeds the volume of publicly financed R&D three-fold.

    Excellent infrastructure

    Sweden hosts an excellent infrastructure. It outperforms any other European country. Extensive public investment ensures a nationwide network of roads, railroads, waterways, harbors, and airports. The challenging exposure to hot summers as well as arctic winters have contributed to high quality and reliability in building and construction, transportation and communications.

    Attractive corporate taxation

    Sweden is one of the most competitive locations for corporate taxation in Europe. This is confirmed in comparative surveys and in the analysis by international tax consultants. Besides offering an attractive package, Sweden’s corporate tax system is transparent and enables easy access to information. The national tax authority is efficient and service-minded. A number of online services save the investor time and money.  A number of tax advantages

    Here are examples of the advantages a foreign investor may benefit from:

    • No foreign exchange control
    • Low corporate tax rate
    • Extensive tax treaty network
    • Dividend participation exemption
    • No Swedish tax liability on outbound interest payments
    • No debt/equity limitations

     

    Quality of life

    The quality of housing, education, and healthcare in Sweden is excellent. Sweden offers good scope for balancing a career with family life and work with leisure.  Sweden has long been distinguished for its environmental work and for pioneering reductions of air and water pollution. In most parts of the country, there is plenty of free space and easy access to outdoor activities.

    What are the best places to retire to in Sweden?

     

    Some top places you could consider retiring in Sweden are:

    • • Stockholm
      • Gothenburg
      • Malmo
      • Sandhamn

    What are the visa requirements?

    Requirements for American and Australians retirees

    Americans and Australians planning to stay for more than three months, they’ll have to apply for a Schengen visa

    EU Nationals are allowed to stay in Sweden for unlimited periods of time. However, they must register with local authorities once their visit exceeds 90 days.

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UPDATED AUGUST 20, 2020

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Sweden ranks as the most reputable country in the world

2018 Country RepTrak ranking, announcing Sweden as the most reputable country in the world.

Based on more than 58,000 individual ratings among the general public across the G8 economies, the study evaluated 55 of the world’s largest countries by GDP, and reflects the willingness to visit, live in, work in, invest in and study in these countries. Sweden is seen as the number one most ethical country with high transparency and low corruption, as well as the country with the most progressive social and economic policies.

“What sets Sweden apart is that it is perceived as a highly principled, altruistic, egalitarian, and environmentally-conscious country”, said Nicolas George Trad, President, Strategic Accounts at Reputation Institute, the company behind the study.

The study also revealed that country reputation is not determined by the largest economy, population, nor geographic area. Only two out of the world’s top 10 countries by economy and geography are among the top 10 most reputable countries.

The Top 10 most reputable countries in 2020 are:

1. Sweden
2. Finland
3. Switzerland
4. Norway
5. New Zealand
6. Australia
7. Canada
8. Japan
9. Denmark
10. Netherlands

 

Reference to 2018 updates Business Sweden News

Source: Reputation Institute (RI)

Source of information

Reputation Institute Press Release

World Economic Forum

More Information on the new study from PwC and Partnership for New York City.

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