Simpler regulations for branches

Content

A number of changes regarding branches have been proposed to take place during spring 2011. This means simpler rules for foreign enterprises starting a branch in Sweden.

Changes as of 1 April 2011

Here we shall present some of the changes:

• Formalities in connection with the application for registration of a branch are eased up. For instance the copies of the articles of association and the annual report filed for the foreign enterprise need no longer be certified.
• It will be free of charge for the auditors to report their own resignation.
• Bolagsverket shall inform the following persons when they have been registered in a branch: Managing director, deputy managing director, person authorized to receive service of process, auditor, deputy auditor and signatories for branches of foreign banking enterprises. We shall also inform of the deregistrations that we make.

The changes of the Foreign Branch Offices Ordinance (1992:308) apply as of 1 April 2011.

Changes as of 1 July 2011

Here are some of the proposed changes:

• The business name of the branch need no longer contain the business name and nationality of the foreign enterprise.
• The requirement to have a person in Sweden who is authorized to receive service of process should be changed and only apply when the managing director of the branch is domiciled outside the EEA.
• The managing director of a branch of a foreign insurance enterprise need no longer live in Sweden. The new requirement will be that the managing director must be domiciled within the EEA. The changes of the Foreign Office Branch Act (1992:160) are proposed to apply as of 1 July 2011.

Published 9 March, 2011