Vialto Partners Sweden

NEWS ALERT! - New minimum salary for Swedish work permits It has just been released that the new minimum salary for work permit applications is SEK 28 480. The new salary requirement goes into effect immediately, i.e. today. This is an increase of SEK 1 120 (+3,9 %) from the previous salary level of SEK 27 360. #salary #immigrationtosweden #vialtopartners

A new digital system for passport verification soon to come for Swedish work permit applicants!

Changes to the Swedish Citizenship Law This past Wednesday, the Swedish parliament passed a series of amendments to the Citizenship Law, which will come into effect on October 1, 2024. A major change is that there will be new requisites in order for youth between the ages of 15 and 21 to be granted Swedish citizenship. The new requisites are that the individual must not:  - be reasonably suspected for serious crime - be condemned for serious crime or repeated criminal offenses - be a threat to national security or public safety - have connection with groups or organizations that commits abuse against others Also from October 1, 2024, citizens of the Nordic countries will no longer be able to submit their applications for Swedish citizenship to the County Administrative Board (Länsstyrelsen), but instead must submit them to the Swedish Migration Agency. This means that the The Swedish Migration Agency will be the sole authority that handles citizenship cases after October 1, 2024. Citizenship cases for Nordic nationals are estimated to be around 3 000 applications per year. The Migration Agency is preparing for this additional volume but we at Vialto Partners Sweden expect that it will initially impact the authority’s processing times in citizenship cases. #immigrationtosweden #citizenship #vialtopartners

Vialto is, and always will be, a place of equity and belonging. We are committed to cultivating an environment that is inclusive and fosters a sense of acceptance, empowering our people to confidently bring their authentic selves to work. But how do we do this? At Vialto, we deeply value allyship. Our comprehensive inclusion programs across our global network help educate our teams on the non-negotiable importance of inclusivity and equip them with the right tools to support their LGBTQIA+ colleagues. We celebrate diversity through events and discussions that promote understanding and acceptance. Together, we’re building platforms for advocacy and support, ensuring every voice is heard and respected. We’re championing allyship every day, all the way. Happy #Pride2024! 🏳️🌈 #VialtoValues #VialtoPartners #Pride2024 #Inclusion #PrideMonth #GlobalMobility #Diversity #LifeAtVialto #CelebratePride

The European Commission asks Sweden to amend its rules on preliminary income taxation of foreign contractors The European Commission has decided to open an infringement procedure by sending a letter of formal notice to Sweden drawing its attention to the potential incompatibility of its legislation on preliminary income taxation with EU law. Swedish clients paying for work carried out by foreign companies are obliged to withhold a preliminary income tax at a rate of 30 per cent on the relevant remunerations unless the foreign contractors have been approved for F-tax by the Swedish Tax Agency. The Commission deems that such an obligation to withhold preliminary income tax in situations where foreign contractors have no Swedish permanent establishment – and hence no income tax liability in Sweden – could infringe the freedom to provide services. Sweden needs to reply to the arguments raised by the Commission within two months. The Commission may hereafter decide to send a reasoned opinion, which is a formal request to comply with EU law. https://lnkd.in/gwYqg-ha

The European Commission asks Sweden to amend its rules on preliminary income taxation of foreign contractors The European Commission has decided to open an infringement procedure by sending a letter of formal notice to Sweden drawing its attention to the potential incompatibility of its legislation on preliminary income taxation with EU law. Swedish clients paying for work carried out by foreign companies are obliged to withhold a preliminary income tax at a rate of 30 per cent on the relevant remunerations unless the foreign contractors have been approved for F-tax by the Swedish Tax Agency. The Commission deems that such an obligation to withhold preliminary income tax in situations where foreign contractors have no Swedish permanent establishment – and hence no income tax liability in Sweden – could infringe the freedom to provide services. Sweden needs to reply to the arguments raised by the Commission within two months. The Commission may hereafter decide to send a reasoned opinion, which is a formal request to comply with EU law. https://lnkd.in/gwYqg-ha

Government’s proposal - what does the Swedish Migration Agency say? The Swedish Migration Agency has shared its views on the government's proposed new rules for labor immigration (SOU 2024:15 Nya regler för arbetskraftsinvandring m.m). The proposals are designed to tighten the conditions for labor immigration while also promoting highly qualified professionals. The Swedish Migration Agency supports the wage requirement, based on the median salary (currently 34,200 SEK) because of its clarity and transparency. Certain professions may be exempt from this wage requirement in cases of national or regional labor shortages. The government will create and update the list of exempt professions annually, based on the Swedish Public Employment Service's occupational forecasts. The Swedish Migration Agency also supports the proposal that newborns should not be required to leave Sweden to get a residence permit. The system where former asylum seekers could be granted a work permit from within Sweden after a rejected asylum may be abolished. This means that those who have had their asylum applications rejected must leave Sweden before they can apply for and be granted a work permit. The Swedish Migration Agency points out certain risks with this change: former asylum seekers might choose to stay in the country and work illegally and they might be less inclined to clarify their identity during the asylum investigation. Overall, the Swedish Migration Agency is positive about the proposals, but sees some risks that parts might be unclear, leading to different interpretations and uncertainties. The proposals add new steps to the assessment process, and unclear rules in an already complex system could cause difficulties, possibly resulting in longer processing times. The proposed changes are expected to come into effect during 2025. If you have any questions regarding immigration requirements, do reach out! #immigration #upcomingchanges #vialtopartners

The Swedish Migration Agency is launching a pilot where applicants will be able to verify their passports digitally. Read more about it below.

SWEDEN - DENMARK NEW ÖRESUND SOCIAL SECURITY AGREEMENT Monday this week the new Öresund agreement on social security was published. Please find below some practical considerations about the new agreement. If you have any questions or would like to discuss please do not hesitate to contact us. #globalmobility #socialsecurity Vialto Partners https://lnkd.in/dkFftHX4

Avoid surprise currency gains taxation when selling shares! Sweden normally tax capital gains with 30%. When an individual buys and sells shares in another currency than Swedish Krona (SEK) each transaction is to be recalculated to SEK using the transaction day currency rate. This basically results in that investing in shares in another currency will not only result in capital gains or loss for the share but also a currency gain and loss. During the last 3 years SEK has been weak and lost about 25% against USD and 15% against EURO. This could result in an additional currency gain for selling shares in USD or EUR with between 10% to 25% which will be added to the gain or loss of the share gain or loss. This can be frustrating for individuals coming to Sweden who have invested in shares a couple of years ago in their normal USD or EUR accounts and now, when residing in Sweden being taxed for a currency gain which they do not feel like they have taken advantage of. We recommend looking into this before moving to Sweden and to investigate the possibility of selling the shares before entering Sweden. The gain will then likely only be taxed in the country the individual was resident in before coming to Sweden. By eliminating the tax in Sweden, the surprise of currency “gain” will not be in effect. Rebuying the shares will update both the cost basis and the exchange rate to the new purchase date. Please reach out to Magnus Westman or Vialto Partners Sweden for more information.