Foreign business operations – management company passport

Management companies subject to UCITS 4 that want to establish a branch in Sweden (Chapter 1, section 6, first point of the Swedish UCITS Act)

A management company domiciled in the EEA and that in its home state has authorisation to conduct such operations as referred to in Directive 2009/65/EG of the European Parliament and of the Council may conduct business from a branch in Sweden.

The management company, in such a case, shall notify the competent authority in the management company's home state.

Fee

No fee is charged.

Processing time

The operations may commence two months after FI has received a notification from the competent authority in the managing company's home state.

Change to the operations

If the management company intends to change something specified in the notification that has been submitted to the competent authority in the home state after the operations have commenced, the company must inform FI in writing at least one month before the change is implemented.

Management companies subject to UCITS 4 that want to provide services in Sweden (Chapter 1, section 6, second point of the Swedish UCITS Act)

A management company domiciled in the EEA and that in its home state has authorisation to conduct such operations as referred to in Directive 2009/65/EG of the European Parliament and of the Council may conduct business by offering and providing services in Sweden from its home state.

The management company, in such a case, must notify the competent authority in the management company's home state.

Fee

No fee is charged.

Processing time

The operations may commence as soon as FI has received a notification from the competent authority in the managing company's home state.

Change to the operations

If the management company intends to change something specified in the notification that has been submitted to the competent authority in the home state after the operations have commenced, the company must inform FI in writing before the change is implemented.

Authorisation for management companies to manage a UCITS (Chapter 1, section 6b of the Swedish UCITS Act)

A management company that may conduct business in Sweden may be given authorisation from FI to manage a UCITS. The authorisation is granted in the form of approval of the fund rules.

Fee

A fee of SEK 52,500 must be paid to FI.

Processing time

FI makes a decision within 60 days provided the application is complete.

FI will begin processing the matter when the fee has been paid.

In addition to the documents specified under "Approval of new fund rules", the following documents must be submitted:

• copy of the agreement with the depositary.
• copy of any outsourcing agreement for management or administration.

However, these documents do not need to be submitted if the management company already manages a UCITS and previously submitted the same information to FI.

Change to the operations

If the management company intends to make significant changes to the points above after the operations commenced, the company must notify FI about it.

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