Sweden can be ranked amongst the world's most highly developed post-industrial societies. Unemployment is low and the economy strong. Public-private partnership is at the core of "the Swedish model": a mixed economy traditionally featuring centralised wage negotiations and a heavily tax-subsidised social security network. And Sweden has a lot more to offer.
Sweden has a favourable tax regime, low administrative regulation and a good judicial system. This in combination with its good infrastructure makes it an excellent platform for international holding structures and an attractive place to encourage the establishment of companies for foreign subsidiaries.
From our two local offices, one in Malmö and one in Stockholm, we provide local services as well as access to our global network. Working with some of the sharpest minds in corporate law and finance, we pull together the right blend of services to suit each client’s unique situation.
Geography |
Northern Europe, bordering the Baltic Sea, Gulf of Bothnia, Kattegat, and Skagerrak, between Finland and Norway - 62 00 N, 15 00 E |
Capital |
Stockholm |
Time zone |
UTC +1 |
Population |
9,059,651 (July 2009 est.) |
Nationality |
Noun: Swede(s) - Adjective: Swedish |
Languages |
Swedish, small Sami- and Finnish-speaking minorities |
Government type |
Constitutional monarchy |
Legal system |
Civil law system influenced by customary law; accepts compulsory ICJ jurisdiction with reservations |
Economy overview |
Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a skilled labor force. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output and exports. Agriculture accounts for only 1% of GDP and 2% of employment. Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This and robust finances offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, and streamlining the state's role in the economy. Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and growth continued downward in the fourth as deteriorating global conditions reduced export demand and consumption. On 3 February 2009, the Swedish Government announced a $6 billon rescue package for the banking sector. |
Currency |
Swedish krona (SEK) |