Bank Account:

• Create a Bank Account: For this you need a Local ID card from Skatteverket and personal number. Some banks open account without Personal number, they open based on your passport, migrationsverket card and Job offer letter. Ask your friends.
• If you are dependable Spouse and doesn’t have job in Sweden: Some Bank can deny opening the account. Say to them you have a Kid, and you will receive Barnbidrag (Child benefit). No Kid then say I am bringing money from home country to Sweden to invest in ISK Account, hence I need an account.
• Learn how to get all you Bills like Electricity, Credit card and Insurance payments via E-Faktura to your bank account online. Then you have right to approve or decline the payment. Auto Giro Means the money is debited automatically from your bank account.
• Learn what is Bankid (It’s like your password to login to all services in Sweden) and how to use it.
• In Sweden you can open Multiple accounts within the same Bank. Open one more account where most of the money is parked. Account linked with debit card shall have max of 10 000 Kr, just to prevent online fraud.

Purchase of Apartment in Sweden:

It can be tempting to buy an apartment to escape the constant 2^nd hand rental or moving from different rental places. Stockholm apartments are highly priced and most expensive market in Sweden. Even Gothenburg and other small town apartment purchase are very much affordable (But Risk of BRF (Building Association) economy needs to be evaluated).

The biggest Risk in buying an apartment on Work Permit is when a person losses their job, they have 3 months only in year 2025 to find the next job, else they have to move out of Sweden and 3 months it’s a short time to sell an apartment or to even find a new job.

Its better to buy an apartment once the person /family has received an Permanent Residence in Sweden or when both person in the family are working hence in case of job loss the situation is manageable.

Single Income Person /Family better to buy an apartment after Permanent Residence in Sweden.

Investing in Sweden:

• ISK is a special account available for all resident in Sweden, open with any bank or online fintech companies like Avanza/Nordnet.
• Capital Gain is tax free, there is holding tax on this account, but upto 150 000 Kr tax free per person in year 2025 and upto 300 000 Kr tax free in year 2026.

Försäkringskassan:

Register here with form 5456: Information when moving to or working in Sweden. Only when you are registered, you will get Child benefits, Sick pay, Parental leave & VAB pay etc.

EU-Kort from Försäkringskassan:

Försäkringskassan provides you a medical card which is valid for 2 years, which is important if you travel to EU countries and if you fall sick this card acts as an insurance card and you can get medical treatment for free.

Order your EU-Kort here

Insurance:

• Especially important to have home insurance for your rental apartment.
• Medical expenses are covered by Swedish Government. Explore for 2 years and then decided if you need a private health insurance.
• Financially dependent spouse / kids / having loans: Life Insurance is a good instrument to safeguard the financial risk in the family.
• Dental is a costly affair in Sweden. Check Abonnemangstandvård (Subscription Dental care) from Folktandvarden.

Union & AKassa (Unemployment Insurance):

It is important to be a Part of Akassa and pay the fees towards it. Akassa payment has a ceiling for payout incase of job loss. We would recommend people to be part of Union, as this membership will give you 80% of your salary if you become unemployed via income insurance.

Friskvårdsbidrag (Wellness Allowance)

For most of employee in Sweden, this wellness allowance is part of your salary. This can range from 2000 Kr to 5000 Kr depending on your company. You can use this money for Gym, Exercise, sports, Online Yoga, Online Meditation or Breathing exercise. You need to use it within the specified year. Ask you friends in your company.

To know what all activities are covered here , Please do a google search with this keyword : “Friskvårdsaktiviteter A–Ö” and go to website with Skatterverket.se

Kivra (Kivra.se)

Register for Digital Mailbox to receive post via digitally. It’s very convenient.

Swish (You need BankID)

Easy way to make payment to friends and to restaurant or for bus ticket. Set a Limit in Swish.

Arbetsformedlingen (Unemployment services) & Jobbsprånget

If your partner/spouse is unemployed and living in Sweden. Register them from day one with arbetsformedlingen. Jobbspråanget is a great way to get internship with Swedish companies.

Pension:

Government pension is called Allmans pension. (check minpension.se or pensionsmyndigheten.se)

Employer paid pension is called Occupation pension (tjänstepension).

Most white collar jobs have ITP1 occupation pension agreement. Avtalat

Employers who don’t have a collective agreement, have occupation pension in a separate bank.

You can choose Repayment Protection (Återbetalningsskydd): Meaning your pension capital will transfer to your partner/child if you pass away. Refer: Repayment Protection

You CANT withdraw your pension when you leave Sweden, but you will get the money only in your retirement age. In some cases, you can withdraw occupation pension, Refer: Withdraw Pension

Check minpension.se to see your complete pension earning.

Taxation in Sweden:

When you are resident in Sweden, then all your global income (it can be from India or USA or any country) needs to reported in Sweden and its mostly taxable in Sweden with credit of tax paid in home country shall be provided.

Inheritance (Arv) Law in Sweden:

Allmänna arvsregler (General Inheritance): If you are married and registered in skatteverket the estate (all money/house etc) will go to your spouse. Refer:

Domstol Inheritance Law

Konsumenternas Guide

Swedish Inheritance Fund (Arvsfondsdelegationen): If you have no relative, no parents, no siblings, niece or nephew then the money goes to this fund.

Will (Testament): You can write a will in Sweden.

Read More in Survivor Guide

Driving License in Sweden:

Your Indian or home country driving License is Valid for 1 yr in Sweden from your date of Registration in Sweden population register and you can extend it if you have a Fixed date of last day of employment in job contract.

Use this 1 Yr to practice driving in Sweden by renting car from Circle K, Or from renting company like Hertz/Avis/Europcar etc as its economical.

Because 50 minutes of practice driving in Driving school will cost around 600 to 700 SEK.

Before you drive your car, ask for basic rules like roundabout rules and giving way to right in Non priority road etc.

Refer: www.transportstyrelsen.se

Medical Visit in Sweden Before getting a Personal Number:

If you plan to visit Hospital in Sweden, ask then to create a Co-ordination number, hence only basic amount of 200Kr per visit is charged.

Or paying using a credit card via card machine in Hospital and once you get the Personal number, go visit them and ask them return the money back to the credit card.

1177.se:

1177 is a helpline number available 24 hours to discuss or ask for advice for medical issue for anyone in the family.

Emergency:

Call 112 in case of emergencies, such as urgent medical conditions, active crimes or fires.

Folktandvården:

This is a public dental care clinic. You need to visit the nearby folktandvården and register yourself there.

Vårdcentral:

This the public care hospital. Visit to the nearest vårdcentral and register yourself there. Any further health issue your 1st point of contact is vårdcentral.