Foreign Insurance Companies - crossborder business

Foreign Insurance Companies planning to conduct cross border business in Sweden in accordance with the Directive 92/96/EEC must, before the business activity begins, file an undertaking in writing to the Financial Supervisory Authority (Finansinspektionen). The company must undertake to furnish a statement of balance to the National Tax Board (Riksskatteverket) not later than 31 January of the year following the income year.

Any person who procures foreign insurances in Sweden must file to the National Tax Board a statement of balance which shall contain the name and address of both the insurer the insurant and also the the civic registration number of the insurant. The intermediary must forward an undertaking from the foreign insurance company where the latter assume responsability to furnish a statement of balance in accordance whith the first paragraph and a permission to look into the insurance from the holder.

The statement of balance shall contain the value of the insurance at the end of the year and at the end of the immediately preceeding year.

The undertaking shall be filed as soon as possible on the form "RSV 2745" which can be obtained at the National Tax Board.