Examples

Innovative business and financial regulations

In order to be able to provide guidance regarding applicable financial regulation, the Innovation Center has gathered information regarding rules that often apply to innovative businesses and examples of which authorisations are needed for certain types of activities. Additional information on the topic will be published regularly.

Depending on how the business will be run and if it will offer other services as well, additional authorisations or registrations may be needed. An assessment of the required authorisation or registrations for an intended business must always be carried out on a case-by-case basis.

Applications for authorisation and registration

Under the Banking tab and Apply for authorisation is a list of authorisations and registrations that may be relevant for companies that want to conduct innovative business. It may also be necessary to look at other authorisations and registrations.

Below each type of authorisation and registration are general information, references to applicable laws and regulations, information about processing times and fees as well as a link to application firms. For each form there is a checklist of the appendices that must be included in the application and references to the requirements for the appendices.

Authorisation and exemption from the authorisation obligation according to the Payment Services Act

According to the Payment Services Act (2010:751), it is possible to apply for authorisation or exemption from the authorisation obligation. A company that will have a turnover for payment services exceeding EUR 3 million per month must apply for authorisation and is considered by law to be a payment institution. A company with a turnover lower than this threshold may apply to be exempt from the authorisation obligation and is called a 'registered payment service provider'.

The exemption makes it possible for a company to conduct payment service activities on a smaller scale as a registered payment service provider. The company must regularly ensure that its turnover does not exceed the limit for being exempted from the authorisation requirement.

Payment services

Example 1

A company wants to offer its customers the service of paying issued invoices, for example an invoice from an electrical company. The service will be provided via a website or mobile app. The customer registers the card for payment and the company carries out the payment transaction.
The company's activities are subject to the Payment Services Act (2010:751). More information about Payment Services (in Swedish).

Example 2

A firm wants to provide a technical platform to intermediate loans between investors and capital-seeking businesses.

The firm's activities require authorisation as a provider of crowdfunding services pursuant to Regulation (EU) 2020/1503 of the European Parliament and of the Council. More information on crowdfunding (in Swedish).

In cases where the firm must also administer interest rate payments and amortisation payments between borrowers and lenders, the firm must also apply for authorisation or exemption from the authorisation obligation pursuant to the Payment Services Act (2010:751). More information about Payment Services.

Loan-based crowdfunding

Example 1

A company wants to provide a technical platform with the aim of brokering unsecured loans between investors and capital-seeking consumers. The company will provide support services, such as conducting credit assessments and preparing credit agreements between lenders and borrowers.

The company's activities are covered by the Certain Consumer Credit-related Operations Act (2014:275). More information about Consumer Credit-related Institutions (In Swedish).

In the event the company will also administer interest rate payments and amortisation payments between borrowers and lenders, the company must apply for authorisation or exemption from the authorisation obligation in accordance with the Payment Services Act (2010:751). A company that has authorisation in accordance with the Payment Services Act (2010:751) as a payment institution does not need to apply for authorisation in accordance with the Certain Consumer Credit-related Operations Act (2014:275). However, this does not apply to a company that received an exemption from the authorisation obligation.

More information about Payment Services (in Swedish).

Example 2

A company wants to provide a technical platform with the aim of brokering loans between investors and capital-seeking companies.

The company's activities must be registered in accordance with the Certain Financial Operations (Reporting Duty) Act (1996:1006) since the company wants to broker loans to companies.

More information about Foreign Currency Exchange and other financial operations.

In the event the company will also administer interest rate payments and amortisation payments between borrowers and lenders, the company must instead apply for authorisation or exemption from the authorisation obligation in accordance with the Payment Services Act (2010:751). A company that has received authorisation or exemption from the authorisation obligation according to the Payment Services Act (2010:751) does not need to be registered in accordance with the Certain Financial Operations (Reporting Duty) Act (1996:1006).

More information about Payment Services (in Swedish).

Cryptocurrencies

Example 1

A company wants to offer the purchase of Bitcoins to its customers from its own holdings.

The company's activities must be registered in accordance with the Certain Financial Operations (Reporting Duty) Act (1996:1006) since the company is providing a means of payment.

More information about Foreign Currency Exchange and other financial operations.

Under 2024 will a new EU legislation, the MiCA Regulation, come into force, establishing uniform rules for companies that issue or provide services related to crypto-assets.

More information regarding the MiCA Regulation (in Swedish).