Sweden
Market information
Post-trade made easy
Table of contents
Sweden - Market basics
What's specific about this market link
Safekeeping
Settlement
Income
Market claims
Corporate actions
Voting
Tax
Lending and borrowing
Money transfer
Background market info
Sweden - Which securities can you hold in Euroclear Bank?
Sweden - Market links
Sweden - Market directory
Sweden - Settlement - Which settlement types are possible for each security type?
Sweden - Settlement - Restrictions
Sweden - Settlement - Settlement process
Execution and credit/debit of your account(s)
Sweden - Settlement - Recycling and cancellation
Recycling
General rule
Recycling timeline
Unsuccessfully positioned instructions
Unmatched instructions
Matched unsettled instructions
Cancellation
General rule
Special case
Failed delivery fee
Sweden - Settlement - Reporting
Reporting of reasons for unmatched/unsettled external instructions
Reporting of alleged trades
Sweden - Settlement - EUCLID instruction formats
Settlement in Euroclear Sweden AB PM and AM clearing via SEB - Dematerialised equities, warrants,
government and corporate debt securities
Free of payment or against payment receipt instruction (03)
Free of payment or against payment delivery instruction (07)
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (03)
Free of payment delivery instruction (07)
Sweden - Settlement - ISO 15022 instruction formats
Settlement in Euroclear Sweden AB PM and AM clearing via SEB - Dematerialised government and
corporate debt securities
Free of payment (MT 540) or against payment (MT 541) receipt instruction
Free of payment (MT 542) or against payment (MT 543) delivery instruction
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (MT 540)
Free of payment delivery instruction (MT 542)
Sweden - Settlement - EasyWay instruction formats
Settlement in Euroclear Sweden AB PM and AM clearing via SEB - Dematerialised government and
corporate debt securities
Free of payment (RFP) or against payment (RVP) receipt instruction
Free of payment (DFP) or against payment (DVP) delivery instruction
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (RFP)
Free of payment delivery instruction (DFP)
Sweden - Custody - Interest, dividend and redemption payments
Overview
Sweden - Custody - Market claims
Debt securities
Equities
Settlement timing of market claims
Reporting
Sweden - Custody - Corporate actions
Stock splits
Sweden - Custody - Voting
Annual and Extraordinary General Meeting notification
Registration
Voting procedures
Solicitation of a note holder's consent notification
Sweden - Tax - Service overview
Sweden - Tax - Equities - Relief at Source
Relief at Source procedure
Eligibility criteria
Documentation requirements
Important
Deadline for receipt of documentation
Special rules for distributions in kind
Special rules for residents of Sweden
Eligibility criteria
Documentation requirements
Deadline for receipt of documentation
Special rules for (non-) European UCITS funds
UCITS funds
Special rules for tax-exempt entities
Sweden - Tax - Equities - Quick Refund
Quick Refund procedure
Eligibility criteria
Documentation requirements
Important
Deadline for receipt of documentation
Special rules for distributions in kind
Special rules for proceeds from redemption and repurchase of shares
Special rules for residents of Sweden
Eligibility criteria
Documentation requirements
Deadline for receipt of documentation
Special rules for (non-) European UCITS funds
Special rules for tax-exempt entities
Sweden - Tax - Equities - Standard Refund
Standard Refund procedure
Eligibility criteria
Documentation requirements
Deadline for receipt of documentation
Special rules for distributions in kind
Special rules for proceeds from redemption and repurchase of shares
Special rules for tax-exempt entities
Sweden - Tax - DTA table - Equities
Notes
Sweden - Tax - Tax forms
Relief at Source
Equities
Quick Refund
Equities
Standard Refund
Equities
Sweden - Tax - Securities tax information
Terms and conditions
Sweden - Lending and borrowing
Eligible securities
Notice periods
Specific feature
SEK - Money transfer
Currency group
Cash Correspondents
Input and cancellation deadlines
Specific instruction requirements
Reporting
Sweden - Market basics
13/04/2017
Euroclear Bank Sweden Basics 5W - How much? 5W - How? 5W - What? 5W - When?
5W - Where? Equities Bonds
Safekeeping
Settlement
Custody
Income
Market claims
Corporate actions
Voting
Tax
Lending and borrowing
Money transfer
Background market info
What's specific about this market link
Tax services in EUR: We offer tax services for dividends payable in euro.
Safekeeping
Government
debt securities
Corporate debt
securities
Equities and
related securities
Funds1
Eligible securities
Yes
Yes
Yes
No
Holding restrictions
No
No
No
No
Disclosure requirements
Yes
Yes
Yes
Yes
Specific account opening procedure
No
No
No
No
Type of link
Direct/operated
Depositary
Euroclear Sweden AB
Central securities depository
Euroclear Sweden AB
Regulator
Finansinspektionen
Settlement
Government
debt securities
Corporate debt
securities
Equities and
related securities
Funds1
Internal settlement
Yes
Yes
Yes
No
Bridge settlement
Yes
Yes
Yes
No
External settlement
Yes
Yes
Yes
No
Stock exchange settlement
No
No
No
No
Physical securities settlement
No
No
No
No
Settlement restrictions
Yes
Yes
Yes
No
Settlement optimisation
No
No
No
No
Pre-matching
No
No
No
No
Matching
applies
Yes
Yes
Yes
No
is binding
No
No
No
No
Free of Payment delivery without matching
No
No
No
No
Settlement currencies
SEK
SEK
SEK
No
Government debt securities
Corporate debt securities
Equities and related securities
Funds1
Input deadline
See Settlement timing reference card
Recycling
Yes
Yes
Yes
No
Cancellation deadline
Until transmission to domestic
market
Until transmission to domestic
market
Until transmission to domestic
market
No
Settlement cycle
T+2
T+2
T+2
No
Transfer of legal
ownership
S
S
No
Reporting
See Settlement reporting - Quick card
See Settlement - Reporting page
Government
debt securities
How to format an instruction
Corporate debt
securities
Equities and
related securities
Funds1
Internal
EUCLID (data reference manual)
SWIFT ISO 15022 (data reference manual)
Bridge
EUCLID (data reference manual)
SWIFT ISO 15022 (data reference manual)
External
EUCLID (data reference manual)
EUCLID (market-specific)
SWIFT ISO 15022 (data reference manual)
SWIFT ISO 15022 (market-specific)
EasyWay (market-specific)
How to format an instruction for multi-deposited securities
Coming soon
Income
Government
debt securities
Corporate debt
securities
Equities and
related securities
Funds1
Cash distributions
PD - 5bds
PD - 5bds
Varies
No
Stock distributions
PD - 5bds
PD - 5bds
Varies
No
Government
debt securities
Corporate debt
securities
Equities and
related securities
1
Funds
Detecting
No
No
Yes
No
Processing
No
No
Yes
No
Detecting
No
No
No
No
Ex-date
Record date
Market claims
Over the counter
Stock exchange
Processing
No
No
No
No
Corporate actions
Reporting
See Custody reporting - Quick card
Voting
Proxy voting
Government
debt securities
Corporate debt
securities
Equities and
related securities
Funds1
No
No
Yes
No
Equities and
related securities
Funds1
How to vote
See Voting page
Tax
Government
debt securities
Corporate debt
securities
Withholding tax
See Tax - Service overview
Other taxes
No
No
No
No
Government
debt securities
Corporate debt
securities
Equities and
related securities
Funds1
Varies
Varies
Varies
No
Lending and borrowing
Eligible securities
Money transfer
Currency
Swedish krona (SEK)
Conversion restrictions
No
Holding restrictions
No
Cash Correspondent
Skandinaviska Enskilda Banken AB
Svenska Handelsbanken AB
Input deadlines
See Quick cash card
Cancellation deadlines
See Quick cash card
Reporting
See Cash and credit reporting - Quick card
How to format
See Money transfer page
Background market info
Time zone
Time difference between Brussels and domestic market
No
Daylight Saving Time (DST)
No
Short selling
No
(1) This only applies to funds held in your regular Securities Clearance Account and not to funds held in your FundSettle account. For more
information on funds eligible in FundSettle, consult our FundSettle page.
Sweden - Which securities can you hold in Euroclear Bank?
14/07/2015
Safekeeping Bonds 5W - What? Euroclear Bank Equities Sweden eligible
Form
Government debt securities
Treasury bills
Dematerialised
Registered
Treasury bonds
Dematerialised
Registered
Corporate debt securities
Commercial paper
Dematerialised or physical (2)
Registered or bearer
Medium-term notes
Dematerialised
Registered
Corporate bonds
Dematerialised or physical (2)
Registered or bearer
Mortgage bonds
Dematerialised or physical (2)
Registered or bearer
Bonds
Dematerialised or physical (2)
Registered or bearer
Equities and related securities
Equities (1)
Dematerialised
Registered
(1) Including Remote Market Equities: multi-listed equities listed/traded on the Stockholmsbörsen and held by:
Euroclear Sweden AB, as Remote Market CSD, through SIS for Swiss equities
FCSD/APK through Nordea Bank Finland Plc for Finnish equities
Euroclear UK & Ireland for UK equities (Astra Zeneca only)
(2) Very few Swedish securities are still in physical form. Most issues are dematerialised in Euroclear Sweden
AB.
Sweden - Market links
28/07/2015
External settlement Safekeeping 5W - Where? Euroclear Bank market link market set-up Bonds
market structure link set-up link structure link with local market link with domestic market
Equities Sweden
SEB = Skandinaviska Enskilda Banken AB
(1) Corporate debt securities settle either through NewClear PM or NewClear AM in Euroclear Sweden AB,
depending on the decision of the issuer and the approval of Euroclear Sweden AB.
(2) We have a direct account in Euroclear Sweden AB. This account is operated for us by SEB.
Sweden - Market directory
30/08/2013
Sweden Knowledge base Euroclear Bank
For information on the main market players in Sweden (Depository, stock exchange, CSP, etc.) , go to my.euroclear.com > My Apps > Market
directory and enter: Market: Sweden.
Sweden - Settlement - Which settlement types are possible for
each security type?
30/08/2013
Internal settlement External settlement Bridge settlement Fixed income - debt Equities Sweden
5W - What? Euroclear Bank accepted for settlement type of settlement instructions Bridge link
Bridge eligible settlement eligibility eligible for settlement Bridge-eligible cross border
cross-border
Internal settlement
Bridge settlement
External settlement
Treasury bills
Yes
Yes
Yes
Treasury bonds
Yes
Yes
Yes
Commercial paper
Yes
Yes
Yes
Medium-term notes
Yes
Yes
Yes
Corporate bonds
Yes
Yes
Yes
Mortgage bonds
Yes
Yes
Yes
Bonds
Yes
Yes
Yes
Yes
Yes
Yes
Government debt securities
Corporate debt securities
Equities and related securities
Equities (1)
(1) Including Remote Market Equities: multi-listed equities listed/traded on the Stockholmsbörsen and held by:
Euroclear Sweden AB, as Remote Market CSD, through SIS for Swiss equities
FCSD/APK through Nordea Bank Finland Plc for Finnish equities
Euroclear UK & Ireland for UK equities (Astra Zeneca only)
Sweden - Settlement - Restrictions
10/06/2015
Settlement Sweden Euroclear Bank Bridge settlement External settlement Internal settlement
5W - What?
Debt securities cease to be available for delivery out of the Euroclear System one calendar day before the
scheduled redemption date.
The maximum nominal amount for Euroclear Sweden AB settlement of any single transaction is SEK
500,000,000 (five hundred million). Consequently, we will reject any external receipt or delivery securities
transaction instructions for government or corporate debt securities settling through the PM Clearing that are
greater than this amount.
For securities denominated in EUR or traded in EUR on Stockholmsbörsen, external settlement is only
possible free of payment.
Cross-market transfers and realignments of Swedish or Remote Market Equities are only possible free of
payment.
If securities transaction instructions are input with a cash amount in decimals, the related settlement
confirmation will contain the related cash amount rounded down to the next unit.
Sweden - Settlement - Settlement process
14/10/2014
Sweden Euroclear Bank Funds order routing External settlement 5W - When? Market context
Equities Bonds Warrants
Settlement date
Local matching
Transfer of ownership
Treasury bills
T+2 (1)
On S-1
S
Treasury bonds
T+2 (1)
On S-1
S
Commercial paper
T+2 (1)
On S-1
S
Medium-term notes
T+2 (1)
On S-1
S
Corporate bonds
T+2 (1)
On S-1
S
Mortgage bonds
T+2 (1)
On S-1
S
Equities
T+2 (1)
-
-
Warrants
T+2 (1)
-
-
Government debt securities
Corporate debt securities
Equities and related securities
T = trade date
S = intended settlement date
(1) The T+2 settlement cycle applies to trades that settle in a CSD or an ICSD, if they are traded:
on a regulated market
on a Multi-lateral Trading Facility (MTF) or an Organised Trading Facility (OTF), if and when applicable
over the counter, unless both parties agree otherwise
Execution and credit/debit of your account(s)
(a) We credit certain Swedish government debt securities to your Securities Clearance Accounts in the batch process window dated the contractual
settlement date. This is provided we have confirmation from the Depositary that the transaction has been clearmarked by Euroclear Sweden AB
(‘Euroclear Sweden’) in line with the rules and regulations of Euroclear Sweden.
Such credits are made on the basis of an unconditional and irrevocable commitment by SNDO to deliver such securities to us.
(b) In the case of a contingency situation in Euroclear Sweden (‘Delayed Settlement’ as shown in the rules and regulations of Euroclear Sweden) we
may receive securities against payment from SNDO.
Any payment we make is determined by reference to public sources that both we and SNDO find acceptable. Any difference between the amount
payable and the amount indicated by you in your receipt instructions will be credited/debited to your Securities Clearance Account.
Sweden - Settlement - Recycling and cancellation
17/12/2013
Settlement Sweden Euroclear Bank 5W - When?
Recycling
General rule
We automatically recycle your external instruction if:
your instruction did
not
because
position successfully
for receipts, the cash/credit was not available
for deliveries, the securities were not available
match
either:
your counterparty did not send its instruction
the content of the matching fields did not correspond in your and your counterparty’s
instructions
settle
your instruction was sent to the domestic market to settle; but
we received negative settlement feedback from the domestic market
Recycling timeline
Unsuccessfully positioned instructions
A
Contractual settlement date
B
Recycling period of 4 local
business days after the
contractual settlement date
(A)
C
End of recycling period and
start of cancellation: if your
instruction still has not
successfully positioned by
the end of the recycling
period (B), we will cancel
it.
A
Contractual settlement date
B
Recycling period of either:
Unmatched instructions
30 calendar days after
the contractual
settlement date (A)
30 calendar days after
the input date, if the
contractual settlement
date has passed
C
End of recycling period and
start of cancellation: if your
instruction still has not
successfully positioned by
the end of the recycling
period (D), we will cancel
it.
Matched unsettled instructions
A
Contractual settlement date
B
Recycling period: we will
recycle your instruction
until:
it settles
you cancel it
Cancellation
General rule
Instruction status
Options
We have not yet sent your external instruction to the domestic market.
You can cancel your instruction.
We have sent your external instruction to the domestic market.
You can no longer cancel your instruction.
Special case
If you send us
then
an instruction with a past contractual settlement date
we will make at least one attempt to position it. After that:
if positioned, we will make one attempt to settle your instruction
if settlement fails, we will cancel your instruction
Failed delivery fee
Market practice in Sweden allows the buyer to charge a fee to any counterparty that fails to deliver Swedish
dematerialised debt securities. The fee is 800 basis points above the one-week Stockholm interbank offer rate,
as determined on S-2.
The fee is calculated on
for
the cash amount
an against payment transaction
the nominal amount of the securities
a free of payment transaction
The fee will be charged to your account, if you fail to deliver securities because they were not available in your
Securities Clearance Account on either S-1 or S.
Sweden - Settlement - Reporting
30/08/2013
Settlement Sweden Euroclear Bank Reporting 5W - What? 5W - When?
Reporting of reasons for unmatched/unsettled external instructions
The reason(s) why an external instruction has not been matched or settled will be reported via EUCLID or SWIFT MT 537 and MT 548, if and when
made available by SEB.
Reporting of alleged trades
We will report alleged trades to you via EUCLID and SWIFT:
if and when made available by SEB
provided the counterparty has supplied SEB with your account number
If the allegement can be coupled with your instruction, we will report to you the reference of the alleged trade before receiving the matching or
settlement feedback from the domestic market.
Allegements will be removed from your reports as follows:
Pending allegements will be removed upon receipt of positive matching and/or settlement feedback from the domestic market.
Unmatched allegements will be removed ten calendar days after the contractual settlement date.
Sweden - Settlement - EUCLID instruction formats
08/01/2016
Settlement Sweden Euclid PC Euclid server 5W - How? Instruction formats Euroclear Bank
On this page:
Settlement in Euroclear Sweden AB PM and AM clearing via SEB - Dematerialised equities, warrants, government and
corporate debt securities
Free of payment or against payment receipt instruction (03)
Free of payment or against payment delivery instruction (07)
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (03)
Free of payment delivery instruction (07)
Settlement in Euroclear Sweden AB PM and AM clearing via SEB Dematerialised equities, warrants, government and corporate debt
securities
Free of payment or against payment receipt instruction (03)
Deliverer of securities (:87C:)
Euroclear Bank code of the bank or broker in Euroclear Sweden AB that delivers the securities
The Euroclear Bank code to be used should be linked to the SWIFT BIC of the deliverer of
the securities. You can find this link on my.euroclear.com > My Apps > Counterparties search.
Delivering party (:85C: second line)
SWIFT BIC of the delivering counterparty (account holder with the bank or broker)
Trade date (:31P:)
This field is mandatory.
Narrative field (:77B:)
Unless strictly necessary, this field should be left blank.
What you need to know
Against payment possibilities in SEK.
What your counterparty needs to know
Where to transfer securities:
Euroclear Sweden AB-NewClear PM: to account 148919324 in Euroclear Sweden AB. The clearing member (i.e. receiving
agent) is SEB.
Euroclear Sweden AB-NewClear AM: to SEB as clearing member (i.e. receiving agent) in Euroclear Sweden AB.
Your counterparty must instruct its local agent, bank or broker on S-1 to deliver securities to SEB in favour of
Euroclear, specifying the Euroclear Bank Securities Clearance Account number nnnnn and the full name and
location of the Participant to be credited.
Free of payment or against payment delivery instruction (07)
Receiver of securities (:87C:)
Euroclear Bank code of the bank or broker in Euroclear Sweden AB that receives the securities
The Euroclear Bank code to be used should be linked to the SWIFT BIC of the receiver of
the securities. You can find this link on my.euroclear.com > My Apps > Counterparties search.
Receiving party (:88C: second line)
SWIFT BIC of the receiving counterparty (account holder with the bank or broker)
Trade date (:31P:)
This field is mandatory.
Narrative field (:77B:)
Unless strictly necessary, this field should be left blank.
What you need to know
Against payment possibilities in SEK.
What your counterparty needs to know
A matching instruction must be sent by your counterparty’s local agent (bank or broker) to allow matching
with SEB on S-1.
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (03)
Deliverer of securities (:87C:)
Euroclear Bank code of the bank or broker in Sweden that delivers the securities
The Euroclear Bank code to be used should be linked to the SWIFT BIC of the deliverer of
the securities. You can find this link on my.euroclear.com > Resources > My Apps > Counterparties
search.
Delivering party (:85C: second line)
SWIFT BIC of the delivering counterparty (account holder with the bank or broker)
Trade date (:31P:)
This field is mandatory.
Narrative field (:77B:)
Unless strictly necessary, this field should be left blank.
What your counterparty needs to know
Where to transfer securities: to SEB for account 01-001 168 593 in the name of Euroclear Bank
Your counterparty must instruct its local agent, bank or broker on S-1 to deliver securities to SEB in favour of
Euroclear, specifying the Euroclear Securities Clearance Account number nnnnn and the full name and location
of the Participant to be credited.
Free of payment delivery instruction (07)
Receiver of securities (:87C:)
Euroclear Bank code of the bank or broker in Sweden that receives the securities
The Euroclear Bank code used should be linked to the SWIFT BIC of the receiver of the
securities. You can find this link on my.euroclear.com > My Apps > Counterparties search.
Narrative (:77B:)
Full name and address of the party receiving the securities
Trade date (:31P:)
This field is mandatory.
What your counterparty needs to know
A matching instruction must be sent by your counterparty’s local agent (Swedish bank or broker) to allow
matching with SEB on S-1.
Sweden - Settlement - ISO 15022 instruction formats
27/10/2015
Settlement Sweden ISO 15022 SWIFT 5W - How? Instruction formats Euroclear Bank
instruction requirements
On this page:
Settlement in Euroclear Sweden AB PM and AM clearing via SEB - Dematerialised government and corporate debt
securities
Free of payment (MT 540) or against payment (MT 541) receipt instruction
Free of payment (MT 542) or against payment (MT 543) delivery instruction
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (MT 540)
Free of payment delivery instruction (MT 542)
Settlement in Euroclear Sweden AB PM and AM clearing via SEB Dematerialised government and corporate debt securities
Free of payment (MT 540) or against payment (MT 541) receipt instruction
Place of settlement
Sub-sequence: E1 - SETPRTY
Field: :95P::PSET//VPCSSESS
Delivering agent
Sub-sequence: E1 - SETPRTY
Field:
:95R::DEAG/ECLR/Euroclear Bank code of the delivering agent in Euroclear Sweden AB
The Euroclear Bank code used should be linked to the SWIFT BIC of the delivering agent. You can find this
link on my.euroclear.com > My Apps > Counterparties search.
or
:95P::DEAG//SWIFT BIC of the delivering agent in Euroclear Sweden AB
The delivering agent's SWIFT BIC should be recognised by Euroclear Bank for the Swedish
market. You can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Delivering party
Sub-sequence: E1 - SETPRTY
Field: :95P::SELL//SWIFT BIC of the account holder with the delivering agent
What you need to know
Against payment possibilities in SEK.
What your counterparty needs to know
Where to transfer securities:
Euroclear Sweden AB-NewClear PM: to account 148919324 in Euroclear Sweden AB. The clearing member (i.e. receiving
agent) is SEB.
Euroclear Sweden AB-NewClear AM: to SEB as clearing member (i.e. receiving agent) in Euroclear Sweden AB
Your counterparty must instruct its local agent, bank or broker on S-1 to deliver securities to SEB in favour of
Euroclear Bank, specifying the Euroclear Bank Securities Clearance Account number nnnnn and the full name
and location of the Participant to be credited.
Free of payment (MT 542) or against payment (MT 543) delivery instruction
Place of settlement
Sub-sequence: E1 - SETPRTY
Field: :95P::PSET//VPCSSESS
Receiving agent
Sub-sequence: E1 - SETPRTY
Field:
:95R::REAG/ECLR/Euroclear Bank code of the receiving agent in Euroclear Sweden AB
The Euroclear Bank code used should be linked to the SWIFT BIC of the receiving agent. You can find this
link on my.euroclear.com > My Apps > Counterparties search.
or
:95P::REAG//SWIFT BIC of the receiving agent in Euroclear Sweden AB
The receiving agent's SWIFT BIC should be recognised by Euroclear Bank for the Swedish
market. You can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Receiving party
Sub-sequence: E1 - SETPRTY
Field: :95P::BUYR//SWIFT BIC of the account holder with the receiving agent
What you need to know
Against payment possibilities in SEK.
What your counterparty needs to know
A matching instruction must be sent by the counterparty’s local agent (bank or broker) to allow matching with
SEB on S-1.
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (MT 540)
Physical settlement
Sequence: E - SETDET
Field: :22F::STCO//PHYS
Place of settlement
Sub-sequence: E1 - SETPRTY
Field: :95C::PSET//SE
Delivering agent
Sub-sequence: E1 - SETPRTY
Field:
:95R::DEAG/ECLR/Euroclear Bank code of the delivering agent
The Euroclear Bank code used should be linked to the SWIFT BIC of the delivering agent. You can find this
link on my.euroclear.com > My Apps > Counterparties search.
or
:95P::DEAG//SWIFT BIC of the delivering agent
The delivering agent's SWIFT BIC should be recognised by Euroclear Bank for the Swedish
market. You can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Delivering party
Sub-sequence: E1 - SETPRTY
Field: :95Q::SELL//name and address of the delivering party
What your counterparty needs to know
Your counterparty should instruct to SEB for account 01-001 168 593 in the name of Euroclear Bank.
Your counterparty must instruct its local agent, bank or broker on S-1 to deliver securities to SEB in favour of
Euroclear Bank, specifying the Euroclear Securities Clearance Account number nnnnn and the full name and
location of the Participant to be credited.
Free of payment delivery instruction (MT 542)
Physical settlement
Sequence: E - SETDET
Field: :22F::STCO//PHYS
Place of settlement
Sub-sequence: E1 - SETPRTY
Field: :95C::PSET//SE
Receiving agent
Sub-sequence: E1 - SETPRTY
Field:
:95R::DEAG/ECLR/Euroclear Bank code of the receiving agent
The Euroclear Bank code to be used should be linked to the SWIFT BIC of the receiving
agent. You can find this link on my.euroclear.com > Resources > My Apps > Counterparties search.
or
:95P::DEAG//SWIFT BIC of the receiving agent
The receiving agent's SWIFT BIC should be recognised by Euroclear Bank for the Swedish
market. You can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Receiving party
Sub-sequence: E1 - SETPRTY
Field: :95Q::SELL//name and address of the receiving party
What your counterparty needs to know
A matching instruction must be sent by your counterparty’s local agent (Swedish bank or broker) to allow
matching with SEB on S-1.
Sweden - Settlement - EasyWay instruction formats
27/10/2015
Settlement Sweden 5W - How? Instruction formats Euroclear Bank instruction requirements
EasyWay
On this page:
Settlement in Euroclear Sweden AB PM and AM clearing via SEB - Dematerialised government and corporate debt
securities
Free of payment (RFP) or against payment (RVP) receipt instruction
Free of payment (DFP) or against payment (DVP) delivery instruction
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (RFP)
Free of payment delivery instruction (DFP)
Settlement in Euroclear Sweden AB PM and AM clearing via SEB Dematerialised government and corporate debt securities
Free of payment (RFP) or against payment (RVP) receipt instruction
Place of settlement
Sequence: SETTLEMENT PARTIES
Field: Place of settlement: BIC - VPCSSESS
Delivering agent
Sequence: SETTLEMENT PARTIES
Subsequence for delivering agent
Field:
Delivering agent: Euroclear identification - Euroclear Bank code of the delivering agent in Euroclear Sweden
AB
The Euroclear Bank code used should be linked to the SWIFT BIC of the delivering agent. You can find this
link on my.euroclear.com > My Apps > Counterparties search.
or
Delivering agent: BIC - SWIFT BIC of the delivering agent in Euroclear Sweden AB
The delivering agent's SWIFT BIC should be recognised by us for the Swedish market. You
can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Delivering party
Sequence: SETTLEMENT PARTIES
Subsequence for seller
Field: Seller: BIC - SWIFT BIC of the account holder with the delivering agent
What you need to know
Against payment possibilities in SEK.
What your counterparty needs to know
Where to transfer securities:
Euroclear Sweden AB-NewClear PM: to account 148919324 in Euroclear Sweden AB. The clearing member (i.e. receiving
agent) is SEB.
Euroclear Sweden AB-NewClear AM: to SEB as clearing member (i.e. receiving agent) in Euroclear Sweden AB
Your counterparty must instruct its local agent, bank or broker on S-1 to deliver securities to SEB in favour of
Euroclear Bank, specifying the Euroclear Bank Securities Clearance Account number nnnnn and the full name
and location of the Participant to be credited.
Free of payment (DFP) or against payment (DVP) delivery instruction
Place of settlement
Sequence: SETTLEMENT PARTIES
Field: Place of settlement: BIC - VPCSSESS
Receiving agent
Sequence: SETTLEMENT PARTIES
Subsequence for receiving agent
Field:
Receiving agent: Euroclear identification - Euroclear Bank code of the receiving agent in Euroclear Sweden
AB
The Euroclear Bank code used should be linked to the SWIFT BIC of the receiving agent. You can find this
link on my.euroclear.com > My Apps > Counterparties search.
or
Receiving agent: BIC - SWIFT BIC of the receiving agent in Euroclear Sweden AB
The receiving agent's SWIFT BIC should be recognised by us for the Swedish market. You
can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Receiving party
Sequence: SETTLEMENT PARTIES
Subsequence for buyer
Field: Buyer: BIC - SWIFT BIC of the account holder with the receiving agent
What you need to know
Against payment possibilities in SEK.
What your counterparty needs to know
Your counterparty’s local agent (bank or broker) must send a matching instruction to allow matching with
SEB on S-1.
Physical settlement through SEB - Securities in physical form
Free of payment receipt instruction (RFP)
Physical settlement
Sequence: SETTLEMENT DETAILS
Field: Settlement transaction condition indicator: PHYS - Physical
Place of settlement
Sequence: SETTLEMENT PARTIES
Field: Place of settlement: Physical – Sweden
Delivering agent
Sequence: SETTLEMENT PARTIES
Subsequence for delivering agent
Field:
Delivering agent: Euroclear identification - Euroclear Bank code of the delivering agent
The Euroclear Bank code used should be linked to the SWIFT BIC of the delivering agent. You can find this
link on my.euroclear.com > My Apps > Counterparties search.
or
Delivering agent: BIC - SWIFT BIC of the delivering agent
The delivering agent's SWIFT BIC should be recognised by us for the Swedish market. You
can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Delivering party
Sequence: SETTLEMENT PARTIES
Subsequence for seller
Field: Seller: Name/free text - Name and address of the delivering party
What your counterparty needs to know
Your counterparty should instruct to SEB for account 01-001 168 593 in the name of Euroclear Bank.
Your counterparty must instruct its local agent, bank or broker on S-1 to deliver securities to SEB in favour of
Euroclear Bank, specifying the Euroclear Securities Clearance Account number nnnnn and the full name and
location of the Participant to be credited.
Free of payment delivery instruction (DFP)
Physical settlement
Sequence: SETTLEMENT DETAILS
Field: Settlement transaction condition indicator: PHYS - Physical
Place of settlement
Sequence: SETTLEMENT PARTIES
Field: Place of settlement: Physical – Sweden
Receiving agent
Sequence: SETTLEMENT PARTIES
Subsequence for receiving agent
Field:
Receiving agent: Euroclear identification - Euroclear Bank code of the receiving agent
The Euroclear Bank code to be used should be linked to the SWIFT BIC of the receiving
agent. You can find this link on my.euroclear.com > Resources > My Apps > Counterparties search.
or
Receiving agent: BIC - SWIFT BIC of the receiving agent
The receiving agent's SWIFT BIC should be recognised by us for the Swedish market. You
can check this on my.euroclear.com > Resources > My Apps > Counterparties search.
Receiving party
Sequence: SETTLEMENT PARTIES
Subsequence for seller
Field: Seller: Name/free text - Name and address of the receiving party
What your counterparty needs to know
Your counterparty’s local agent (Swedish bank or broker) must send a matching instruction to allow matching
with SEB on S-1.
Sweden - Custody - Interest, dividend and redemption
payments
08/01/2013
Income and redemption Fixed income - debt Equities Sweden 5W - When? 5W - How? income
5W - What? Market context Euroclear Bank
Overview
Maturity
Interest rate
Interest
calculation
Payment frequency
Record date
Currency
Government debt securities
Treasury bills
SEK
180 or 360
days
Discount to yield
N/A
N/A
PD – 5 bds
Treasury bonds
SEK/EUR
2 to 25 years
Fixed
360 days
Annual
PD – 5 bds
Corporate debt securities
Commercial paper
SEK/EUR
Up to 12
months
Discount to yield
N/A
N/A
PD – 5 bds
Medium-term
notes
SEK/EUR
1 to 10 years
Fixed, floating or zero
coupon
360 days
Semi-annual or
annual
PD – 5 bds
Corporate bonds
SEK/EUR
2 to 25 years
Fixed or zero coupon
360 days
Semi-annual or
annual
PD – 5 bds
Mortgage bonds
SEK
5 to 20 years
Fixed or zero coupon
360 days
Semi-annual or
annual
PD – 5 bds
Bonds
SEK
N/A
N/A
N/A
N/A
PD – 5 bds
N/A
N/A
N/A
N/A
Equities and related securities
Equities
SEK/EUR
SEK: PD – 3 bds
(1)
EUR: PD – 5 bds
Warrants
SEK
N/A
N/A
bd = local business day
PD = Payment Date
(1) Can also be PD – 5 bds, depending on the issuer’s decision.
N/A
N/A
N/A
Sweden - Custody - Market claims
31/07/2014
Market claims Sweden Euroclear Bank 5W - What?
Debt securities
We neither detect nor process market claims related to interest payments on Swedish debt securities.
Equities
We detect and process market claims related to custody distributions (cash and non-cash, including stock splits) on Swedish equities and depository
receipts for internal and external instructions, if:
the contractual settlement date of the instruction is before or the same as the Record Date
the actual settlement date is after the Record Date
We only detect, not process, market claims generated by Bridge instructions (03C, 07C).
Settlement timing of market claims
The expected settlement timing of market claims and the tax rate are shown in the table below.
Instructions generating market claims
Internal receipt instruction (01)
Cash distributions
Non-cash distributions
Market claims
Tax rate applied
Market claims
Up to 2 months(1) after S, value P
According to applicable certificate(2)
Up to a few days before the end of the offer period
Internal delivery instruction (02)
External receipt instruction (03)
External delivery instruction (07)
P = payment date
S = settlement date of the underlying settlement instruction
Notes
(1) If the market claim is still pending at that time, the parties to the trade must settle it themselves.
(2) The tax rate that will be applied cannot be guaranteed if the market claim settles after the Quick Refund deadline.
Reporting
From detection up to (but not including) settlement, pending market claims are reported in the Pending Market Claims Status Report. This report:
lists securities transaction instructions that have generated a market claim
indicates whether the market claim is being/will be processed through us
shows statuses reflecting the market claims process
Debits and credits resulting from the settlement of market claims are reported in the Income Payable Report (cash distributions) or in the Securities
and Related Cash Movements report (non-cash distributions).
Sweden - Custody - Corporate actions
28/03/2014
Sweden Euroclear Bank Corporate actions Reporting 5W - What? 5W - When?
You are informed of upcoming corporate actions affecting Swedish securities held in the Euroclear System through corporate action notifications
(DACE notices).
An overview of custody reporting is available in the Custody reporting – Quick card.
Stock splits
For stock splits, we will automatically update the balances in your Securities Clearance Accounts on the local record date according to the applicable
ratio. Participants should not modify their internal and external instructions that are pending on the local record date, as the adjustments will be
carried out via the market claims procedure. However, pending Bridge instructions should be adjusted by yourself.
Sweden - Custody - Voting
31/07/2014
Sweden Euroclear Bank Proxy voting for clients 5W - How? vote by proxy voting by proxy
proxy vote
Annual and Extraordinary General Meeting notification
Registration
Voting procedures
Solicitation of a note holder's consent notification
Annual and Extraordinary General Meeting notification
The place, date, time and deadlines for annual and extraordinary general meetings for Swedish Large Cap, Mid Cap and Small Cap companies listed
on the NASDAQ OMX Stockholm Stock Exchange and for the Swedish companies listed on the NGM Stock Exchange are provided through
corporate action notifications. These notifications contain a specific narrative summarising the procedure you need to follow to vote at the meeting.
You can find relevant meeting agenda summaries and additional meeting information in the Corporate actions app by entering the corporate action
event number provided in the corporate action notification.
The entitlement to voting rights is determined on the local record date.
Registration
The right to vote may be exercised only if shares are registered in the beneficial owner’s name on the local record date for that vote. The date by
which shares must be registered in the beneficial owner’s name is the fifth calendar day, excluding Sundays and Swedish public holidays before the
meeting.
A corporate action instruction requesting registration of the equities in the beneficial owner’s name must be sent to us using either:
a type 65 instruction (EUCLID proprietary format)
an MT 565, Corporate Action Instruction (ISO 15022-compliant format)
Voting procedures
Voting is possible through a proxy representative or by the physical presence of the beneficial owner at the meeting.
To exercise your voting rights through us, you must send us:
a corporate action instruction
a proxy form signed by the beneficial owner to SEB
To designate a proxy of your choice, in whose name an admission card will be issued, or to request that an admission card be issued in the name of
the beneficial owner to allow them to attend the meeting themselves, you must send us a corporate action instruction only (voting instruction field left
blank).
The corporate action instruction must be sent using either:
a type 53 instruction (EUCLID proprietary format)
an MT 565, Corporate Action Instruction (ISO 15022-compliant format)
Solicitation of a note holder’s consent notification
The date, time and deadlines for solicitation of a note holder’s consent are provided through corporate action notifications. These notifications
contain a specific narrative summarising the procedure you need to follow to cast a vote.
Relevant meeting agenda summaries and additional meeting information can be found on Corporate Actions Online by entering the corporate action
event number provided in the corporate action notification.
Sweden - Tax - Service overview
22/01/2015
Sweden Euroclear Bank Tax - At source Tax - Quick refund Tax - Standard refund Bonds
Equities 5W - What?
Withholding tax
Other taxes
Instruments
Tax rate
Tax relief
Proactive Tax Reclaim Service - PTRS
Market claims
Domestic debt securities
(1)
No
No
No
No
Equities
30% (2)
Relief at Source (3)
No
Yes
No
Quick Refund
Standard Refund
Notes
(1) If the beneficial owner is an individual resident in Sweden, you are responsible for paying the withholding tax, in compliance with local tax
regulations, directly to the Swedish tax authorities.
(2) Unless the beneficial owner is a corporate resident in Sweden, in which case dividend payments are not subject to withholding tax.
(3) Unless the beneficial owner is resident in Switzerland, in which case it is only entitled to Standard Refund of withholding tax through the
procedure applicable under the relevant Double Taxation Agreements (DTAs).
Sweden - Tax - Equities - Relief at Source
29/05/2017
Sweden Euroclear Bank Tax - At source Equities 5W - How?
Other
taxes
Withholding tax
Instruments
Tax
rate
Tax relief
Proactive Tax Reclaim
Service - PTRS
Market
claims
Equities
30%
Relief at Source
No
Yes
No
Special rules for distributions in
kind
Special rules for residents of
Sweden
Special rules for (non-)European
UCITS funds
Special rules for tax-exempt
entities
Relief at Source procedure
Eligibility criteria
You may obtain relief from withholding tax at Source if you hold Swedish equities on behalf of beneficial
owners that are resident in a country, other than Switzerland, that has a Double Taxation Agreement (DTA) in
place with Sweden.
For a list of DTA countries, consult the DTA table - Equities.
Exceptions
The following are not entitled to DTA benefits:
German funds such as Kapitalanlagegesellschaft (KAG) and special funds
Irish offshore funds
Luxembourg FCPs and SICAVs
Malaysian companies incorporated under Labuan legislation
If you hold securities on behalf of beneficial owners that are resident in Switzerland, you cannot obtain Relief
at Source.
Documentation requirements
To apply for Relief at Source, you must send us the following documents:
a duly completed and executed One-Time Certificate (SW_F001). You must send this document by post before the first
relevant dividend payment. In completing the One-Time Certificate, you certify that the Swedish equities you may hold, from
time to time, in your Securities Clearance Account(s) are held on behalf of beneficial owners (including yourself, if
applicable) resident in a DTA country other than Switzerland
an Amendment to One-Time Certificate/List of beneficial owners (SW_F002), if you hold the equities on behalf
of beneficial owners resident in more than one DTA country, other than Switzerland.
We must receive this information before each relevant dividend payment and for each relevant Securities Clearance
Account.You can send this information to us by authenticated SWIFT, post or email (using this template and attaching it to
your email). To send the list by email, you must be subscribed to our Tax breakdowns via email service. If sending by post,
the list must be authenticated by an authorised signature.
Important
If you apply for Relief at Source of withholding tax on dividend payments on Swedish equities, you must
provide us with:
the country of residence for tax purposes
the quantity of securities per country held per payment
all other relevant documentation or certification for each beneficial owner for which relief is claimed, upon request
Deadline for receipt of documentation
Please consult your Dace Notification (500/511) for confirmation of the deadline related to your payment.
To benefit from the relief available, you must comply with the above procedural requirements in a complete
and timely manner. Otherwise, your dividend payment(s) will be taxed at the maximum rate.
If you miss the deadline for Relief at Source, you can apply for a Quick Refund.
Special rules for distributions in kind
Distributions in kind on Swedish equities (such as purchase rights, securities, etc.) may be subject to the same
withholding tax regime as dividends distributed in cash.
Withholding tax is applied after the distribution, as the Swedish tax authorities establish the taxable value of
the distribution in kind some time after distribution.
When we have received the information related to the taxable basis, we will debit your Cash Account with the
withholding tax liability. If you are credited with distributions in kind, you are therefore requested to reserve an
amount for this purpose in your Euroclear Bank Cash Account.
You may apply for Relief at Source from withholding tax by complying with the procedural requirements as
described for cash dividends.
Special rules for residents of Sweden
Eligibility criteria
Dividends paid on Swedish equities to beneficial owners that are corporations resident in Sweden are not
subject to withholding tax. If you hold Swedish equities on behalf of such beneficial owners, you must report
the dividend payments to the Swedish tax authorities.
Documentation requirements
To apply for Relief at Source, you must send us the following documents:
a duly completed and executed One-Time Certificate (SW_F001)
in case of an omnibus account, an Amendment to the One-Time Certificate/List of beneficial owners (SW_F002) that are
residents of Sweden
You can send this information to us by authenticated SWIFT, post or email (using this template and attaching it
to your email). To send the list by email, you must be subscribed to our Tax breakdowns via email service. If
sending by post, the list must be authenticated by an authorised signature.
Dividends paid on Swedish equities to beneficial owners that are individuals resident in Sweden are subject to
withholding tax at a rate of 30%. According to Swedish regulations, beneficial owners that are Swedish
individuals must hold Swedish equities either directly themselves, or through a Swedish or foreign nominee.
Such a nominee is usually a bank, a broker, or another intermediary accountable to the Swedish tax authorities,
which is obliged to apply Swedish withholding tax on dividend payments to individuals resident in Sweden and
report such payments. If the equities are held by a foreign intermediary and the beneficial owner is a Swedish
individual, the individual must request the intermediary to report the following information to the Swedish tax
authorities at the end of the year:
the payment of dividends
the proceeds when selling
the number of securities to the Swedish tax authorities
Deadline for receipt of documentation
Please consult your Dace Notification (500/511) for confirmation of the deadline related to your payment.
To benefit from the relief available, you must comply with the above procedural requirements in a complete
and timely manner. Otherwise, your dividend payment(s) will be taxed at the maximum rate.
If you miss the deadline for Relief at Source, you can apply for a Quick Refund.
Special rules for (non-) European UCITS funds
UCITS funds
Undertakings for the Collective Investment in Transferable Securities (UCITS) can apply for Relief at Source,
if they are domiciled either:
within the EEA
in a state that has entered into a tax treaty that contains an article on exchange of information with Sweden
in a state that has entered into an agreement with Sweden on the exchange of tax information
To apply for Relief at Source, you must send us:
European UCITS
Non-European UCITS
a duly completed and executed One-Time
Certificate (SW_F001)
a duly completed and executed One-Time
Certificate (SW_F001)
a list of beneficial owners per dividend payment. This
breakdown should include the:
a list of beneficial owners per dividend payment. This
breakdown should include the:
name of the umbrella fund
name of the umbrella fund
name of the sub funds/compartments and their
holding
name of the sub funds/compartment and their
holding
an attestation referring to the Directive 2009/65/EG
a copy of the approval from the Swedish Financial
Supervisory Authority to market and sell units in the
fund in Sweden
Special rules for tax-exempt entities
As a general rule, foreign governments and other similar entities are treated as any other beneficial owner
resident in their country and can apply for Relief at Source from withholding tax through the procedure
applicable under the relevant DTA.
Swedish tax law provides a list of entities that are entitled to an exemption from withholding tax. However,
entities that are not included in the list may apply for recognition of tax-exempt status to the Swedish tax
authorities. Application must be made by providing proof of entitlement to such status.
If you hold securities for beneficial owners that are recognised as tax-exempt entities by the Swedish tax
authorities, you can apply for Relief at Source from withholding tax by complying with the procedural
requirements as described above. When lodging a claim, proof must be provided that the beneficial owner is
recognised as tax-exempt entity by the Swedish tax authorities.
Sweden - Tax - Equities - Quick Refund
29/05/2017
Sweden Euroclear Bank Equities 5W - How? Tax - Quick refund
Other
taxes
Withholding tax
Instruments
Tax
rate
Tax relief
Proactive Tax Reclaim
Service - PTRS
Market
claims
Equities
30%
Quick Refund
No
Yes
No
Special rules for distributions in kind
Special rules for proceeds from
redemption and repurchase of shares
Special rules for residents of Sweden
Special rules for (non-) European UCITS
funds
Special rules for tax-exempt entities
Quick Refund procedure
Eligibility criteria
You may obtain application of the DTA rate of withholding tax through a Quick Refund if you hold Swedish
equities on behalf of beneficial owners that are resident in a country, other than Switzerland, that has a Double
Taxation Agreement (DTA) in place with Sweden.
For a list of DTA countries, consult the DTA table - Equities.
Exceptions
The following are not entitled to DTA benefits:
German funds such as Kapitalanlagegesellschaft (KAG) and special funds
Irish offshore funds
Luxembourg FCPs and SICAVs
Malaysian companies incorporated under Labuan legislation
If you hold securities on behalf of beneficial owners that are resident in Switzerland, you cannot obtain a Quick
Refund.
Documentation requirements
To apply for a Quick Refund, you must send us the following documents:
a cover letter requesting a Quick Refund, giving general information about the dividend payment(s), refund(s) claimed and
your Cash Account number
a duly completed and executed One-Time Certificate (SW_F001). You must send this document by post before the first
relevant dividend payment. In completing the One-Time Certificate, you certify that the Swedish equities you may hold, from
time to time, in your Securities Clearance Account(s) are held on behalf of beneficial owners (including yourself, if
applicable) resident in a DTA country other than Switzerland
an Amendment to One-Time Certificate/List of beneficial owners (SW_F002), if you hold the equities on behalf of more
than one single beneficial owner, or category of beneficial owners. You do not have to send this document if you hold
Swedish equities either for your own account or on behalf of a single third party beneficial owner
We must receive this information before each relevant dividend payment and for each relevant Securities Clearance Account.
You can send this information to us by authenticated SWIFT, post or email (using this template and attaching it to your
email). To send the list by email, you must be subscribed to our Tax breakdowns via email service. If sending by post, the list
must be authenticated by an authorised signature.
Important
If you apply for a Quick Refund of withholding tax on dividend payments for Swedish equities, you must
provide us with the country of residence, the quantity of securities held per payment and all other relevant
documentation or certification for each beneficial owner for which relief is claimed upon request
Note: your One-Time Certificate (OTC) should be dated - at the latest - on the record date of the payment for
which you wish to request a Quick Refund
Deadline for receipt of documentation
Please consult your Dace Notification (500/511) for confirmation of the deadline related to your payment.
If you have missed this deadline, you can still claim a Standard Refund.
Special rules for distributions in kind
Distributions in kind on Swedish equities (such as purchase rights, securities, etc.) may be subject to the same
withholding tax regime as dividends distributed in cash.
Withholding tax is applied after the distribution, as the Swedish tax authorities establish the taxable value of
the distribution in kind some time after distribution.
When we have received the information related to the taxable basis, we will debit your Cash Account with the
withholding tax liability. If you are credited with distributions in kind, you are therefore requested to reserve an
amount for this purpose in your Euroclear Bank Cash Account.
You may apply for a Quick Refund of withholding tax by complying with the procedural requirements as
described for cash dividends.
Special rules for proceeds from redemption and repurchase of
shares
Proceeds from redemptions and repurchases of a company’s own shares are treated as dividends at the time of
the payment (i.e. as subject to withholding tax). However, for such payments made on or after 1 January 2005,
the beneficial owner is entitled to claim a Standard Refund of the withholding tax applied on the portion of the
proceeds that correspond to the acquisition price (including fees and commissions) of the redeemed or
repurchased shares.
The procedure to follow is the same as described above under Standard Refund with the additional requirement
to attach proof showing the acquisition price (copy of contract note or similar document). After redemption,
part of the acquisition cost shall be transferred from the parent shares to the redemption shares. The exact
percentage to transfer is decided by the Swedish tax authorities for each case. The same rules apply to
repurchase proceeds. However, for listed shares the beneficial owner is, as an alternative, permitted to calculate
the acquisition price as being equal to 20 percent of the redemption value of the shares (without any need to
provide proof of the real acquisition price).
Finally it may be noted that if the non-resident shareholder sells the redemption shares or redemption rights
there is no Swedish withholding tax. The same applies to repurchase shares and selling rights.
Special rules for residents of Sweden
Eligibility criteria
Dividends paid on Swedish equities to beneficial owners that are corporations resident in Sweden are not
subject to withholding tax. If you hold Swedish equities on behalf of such beneficial owners, you must report
the dividend payments to the Swedish tax authorities.
Documentation requirements
To apply for a Quick Refund, you must send us the following documents:
a duly completed and executed One-Time Certificate (SW_F001)
an Amendment to One-Time Certificate/List of beneficial owners (SW_F002) that are residents of Sweden
You can send this information to us by authenticated SWIFT, post or email (using this template and attaching it
to your email). To send the list by email, you must be subscribed to our Tax breakdowns via email service. If
sending by post, the list must be authenticated by an authorised signature.
Dividends paid on Swedish equities to beneficial owners that are individuals resident in Sweden are subject to
withholding tax at a rate of 30%. According to Swedish regulations, beneficial owners that are Swedish
individuals must hold Swedish equities either directly themselves, or through a Swedish or foreign nominee.
Such a nominee is usually a bank, a broker, or another intermediary accountable to the Swedish tax authorities,
which is obliged to apply Swedish withholding tax on dividend payments to individuals resident in Sweden and
report such payments. If the equities are held by a foreign intermediary and the beneficial owner is a Swedish
individual, the individual must request the intermediary to report the following information to the Swedish tax
authorities at the end of the year:
the payment of dividends
the proceeds when selling
the number of securities to the Swedish tax authorities
Deadline for receipt of documentation
Please consult your Dace Notification (500/511) for confirmation of the deadline related to your payment.
Special rules for (non-) European UCITS funds
Undertakings for the Collective Investment in Transferable Securities (UCITS) can apply for Relief at Source,
if they are domiciled either:
within the EEA
in a state that has entered into a tax treaty that contains an article on exchange of information with Sweden
in a state that has entered into an agreement with Sweden on the exchange of tax information
To apply for Relief at Source, you must send us:
European UCITS
Non-European UCITS
a duly completed and executed One-Time
Certificate (SW_F001)
a duly completed and executed One-Time
Certificate (SW_F001)
a list of beneficial owners per dividend payment. This
breakdown should include the:
a list of beneficial owners per dividend payment. This
breakdown should include the:
name of the umbrella fund
name of the umbrella fund
name of the sub funds/compartments and their
holding
name of the sub funds/compartment and their
holding
an attestation referring to the Directive 2009/65/EG
a copy of the approval from the Swedish Financial
Supervisory Authority to market and sell units in the
fund in Sweden
Special rules for tax-exempt entities
As a general rule, foreign governments and other similar entities are treated as any other beneficial owner
resident in their country and can apply for a Quick Refund of withholding tax through the procedure applicable
under the relevant DTA.
Swedish tax law provides a list of entities that are entitled to an exemption from withholding tax. However,
entities that are not included in the list may apply for recognition of tax-exempt status to the Swedish tax
authorities. Application must be made by providing proof of entitlement to such status.
If you hold securities for beneficial owners that are recognised as tax-exempt entities by the Swedish tax
authorities, you can apply for a Quick Refund of withholding tax by complying with the procedural
requirements as described above. When lodging a claim, proof must be provided that the beneficial owner is
recognised as tax-exempt entity by the Swedish tax authorities.
Sweden - Tax - Equities - Standard Refund
29/05/2017
Sweden Euroclear Bank Equities 5W - How? Tax - Standard refund
Other
taxes
Withholding tax
Instruments
Tax
rate
Tax relief
Proactive Tax Reclaim
Service - PTRS
Market
claims
Equities
30%
Standard Refund
No
Yes
No
Special rules for distributions in kind
Special rules for proceeds from
redemption and repurchase of shares
Special rules for tax-exempt entities
Standard Refund procedure
Eligibility criteria
You may obtain application of the DTA rate of withholding tax through a Standard Refund if you hold
Swedish equities on behalf of beneficial owners that are resident in a country that has a Double Taxation
Agreement (DTA) in place with Sweden.
For a list of DTA countries, consult the DTA table - Equities.
Exceptions
Irish offshore funds, Luxembourg FCPs and SICAVs and Malaysian companies incorporated under Labuan
legislation are not entitled to DTA benefits.
Documentation requirements
To apply for a Standard Refund, you must send us the following documents:
a cover letter (SW_F004), printed on letterhead paper, requesting a Standard Refund, giving general information about the
dividend payment(s), refund(s) claimed and your Cash Account number. You must send this letter by post for each relevant
dividend payment
the relevant completed and executed copy of the tax refund form (SW_F005) intended for the Swedish tax authorities. You
must send us this form for each relevant dividend payment and for each relevant beneficial owner (including yourself, if
applicable)
a power of attorney (SW_F006), if you execute the form on behalf of the beneficial owner. You must send this document by
post for each relevant dividend payment and for each relevant beneficial owner
a credit advice (SW_F007)
Deadline for receipt of documentation
To be effective, our Tax Operations - Sweden team must receive your documentation no later than six
weeks before the tax authorities’ deadline (five years, or two years if the beneficial owner is resident in
Austria, from the end of the calendar year in which the dividend was paid).
Special rules for distributions in kind
Distributions in kind on Swedish equities (such as purchase rights, securities, etc.) may be subject to the same
withholding tax regime as dividends distributed in cash.
Withholding tax is applied after the distribution, as the Swedish tax authorities establish the taxable value of
the distribution in kind some time after distribution.
When we have received the information related to the taxable basis, we will debit your Cash Account with the
withholding tax liability. If you are credited with distributions in kind, you are therefore requested to reserve an
amount for this purpose in your Euroclear Bank Cash Account.
You may apply for a Standard Refund of withholding tax by complying with the procedural requirements as
described for cash dividends.
Special rules for proceeds from redemption and repurchase of
shares
Proceeds from redemptions and repurchases of a company’s own shares are treated as dividends at the time of
the payment (i.e. as subject to withholding tax). However, for such payments made on or after 1 January 2005,
the beneficial owner is entitled to claim a Standard Refund of the withholding tax applied on the portion of the
proceeds that correspond to the acquisition price (including fees and commissions) of the redeemed or
repurchased shares.
The procedure to follow is the same as described above under Standard Refund with the additional requirement
to attach proof showing the acquisition price (copy of contract note or similar document). After redemption,
part of the acquisition cost shall be transferred from the parent shares to the redemption shares. The exact
percentage to transfer is decided by the Swedish tax authorities for each case. The same rules apply to
repurchase proceeds. However, for listed shares the beneficial owner is, as an alternative, permitted to calculate
the acquisition price as being equal to 20 percent of the redemption value of the shares (without any need to
provide proof of the real acquisition price).
Finally it may be noted that if the non-resident shareholder sells the redemption shares or redemption rights
there is no Swedish withholding tax. The same applies to repurchase shares and selling rights.
Special rules for tax-exempt entities
As a general rule, foreign governments and other similar entities are treated as any other beneficial owner
resident in their country and can apply for a Standard Refund of withholding tax through the procedure
applicable under the relevant DTA.
Swedish tax law provides a list of entities that are entitled to an exemption from withholding tax. However,
entities that are not included in the list may apply for recognition of tax-exempt status to the Swedish tax
authorities. Application must be made by providing proof of entitlement to such status.
If you hold securities for beneficial owners that are recognised as tax-exempt entities by the Swedish tax
authorities, you can apply for a Standard Refund of withholding tax by complying with the procedural
requirements as described above. When lodging a claim, proof must be provided that the beneficial owner is
recognised as tax-exempt entity by the Swedish tax authorities.
Sweden - Tax - DTA table - Equities
03/04/2017
Sweden Euroclear Bank Tax - At source Tax - Quick refund Tax - Standard refund Equities
DTA tables
Country
Withholding tax rate
Albania
15
Argentina
15
Australia
15
Austria
10
Azerbaijan
15
Bangladesh
15
Barbados
15
Belarus
10
Belgium
15
Bolivia
15
Bosnia and Herzegovina
15 (1)
Botswana
5
Brazil
25
Bulgaria
10
Canada
15
Chile
10
China
10
Croatia
15 (1)
Cyprus
15
Czech Republic
10
Denmark
15
Egypt
20
Estonia
15
Finland
15
France
15
Gambia
15
Georgia
10
Germany
15
Greece
0
Hungary
15
Iceland
15
India
10
Indonesia
15
Ireland
15
Israel
15
Italy
15
Jamaica
22.5
Japan
10
Kazakhstan
15
Kenya
25
Kosovo
15 (1)
Latvia
15
Lithuania
15
Luxembourg
15
Macedonia
15
Malaysia
15
Malta
15
Mauritius
15
Mexico
15
Montenegro
15 (1)
Namibia
15
The Netherlands
15
New Zealand
15
Nigeria
10
Norway
15
Pakistan
30
The Philippines
15
Poland
15
Portugal
10
Romania
10
Russia
15
Saudi Arabia
10
Serbia
15 (1)
Singapore
15
Slovak Republic
10
Slovenia
15 (1)
South Africa
15
South Korea
15
Spain
15
Sri Lanka
15
Switzerland
15
Taiwan
10
Tanzania
25
Thailand
30
Trinidad and Tobago
20
Tunisia
20
Turkey
20
Ukraine
10
United Kingdom
5
United States
15
Venezuela
10
Vietnam
15
Yugoslavia
15
Zambia
15
Zimbabwe
20
Notes
(1) The treaty concluded between Sweden and the former Yugoslavia (Macedonia excluded).
Sweden - Tax - Tax forms
22/01/2015
Tax - Standard refund Tax - Quick refund Tax - At source Euroclear Bank Sweden Equities
Forms
Relief at Source
Equities
Sweden - SW_F001 - One-Time Certificate
Sweden - SW_F002 Amendment to One-Time Certificate
Quick Refund
Equities
Sweden - SW_F001 - One-Time Certificate
Sweden - SW_F002 Amendment to One-Time Certificate
Standard Refund
Equities
Sweden - SW_F004 - Covering letter for Standard Refund
Sweden - SW_F005 - Claim for repayment of Swedish tax on dividends
Sweden - SW_F005_FIO - Claim for repayment of Swedish tax on dividents
Sweden - SW_F005b - Claim for repayment of Swedish tax on dividends for...
Sweden - SW_F005b_FIO - Claim for repayment of Swedish tax on dividends for...
Sweden - SW_F006 - Power of attorney
Sweden - SW_F007 - Credit Advice
Sweden - Tax - Securities tax information
30/08/2013
Sweden Euroclear Bank Tax - At source Tax - Quick refund Tax - Standard refund Equities
5W - What?
The ‘Securities tax information’ spreadsheet lists the tax services available through Euroclear Bank for Sweden per ISIN code. This document also
provides you with a high level overview of the tax documentation that needs to be submitted to benefit from Relief at Source, Quick refund or
Standard Reclaim whenever applicable.
For more details on the documentation requirements, consult the corporate action notifications (DACE notices).
Important
The information in the corporate action notifications (DACE notices) always prevails over the ‘Securities tax information’ spreadsheet.
Updates are available every Monday at 13:00 (Brussels time).
Terms and conditions
Please read these terms and conditions carefully. By accessing this securities tax information section of the Euroclear Bank website, you agree to be
bound by the terms and conditions below. If you do not agree with the terms and conditions, please do not access this section of the Euroclear Bank
website.
The information contained in this section of the website (the "Securities Tax Information Section") is designed to provide information on Euroclear
Bank tax relief at Source and refund procedures to Euroclear Bank Participants or their authorised agents. Access by any other party is strictly
prohibited.
The information included in this Securities Tax Information Section is intended for the benefit of Participants and their clients. This information may
not be re-distributed, re-used or re-sold to any other person except with the prior consent of Euroclear Bank.
The information provided in this Securities Tax Information Section of the Euroclear Bank website is for informational purposes only and is not and
should not be construed or treated as investment, financial, legal or tax advice.
Accordingly, it is each Participant's sole responsibility to verify the tax treatment of each security before acting upon the information contained in this
Securities Tax Information Section. Euroclear Bank disclaims any responsibility as to the accuracy and completeness of the information.
Sweden - Lending and borrowing
14/10/2014
Lending and borrowing Sweden Euroclear Bank 5W - What? SLB securities lending
securities borrowing
Eligible securities
All securities eligible for settlement in Euroclear Bank are eligible for the Euroclear Bank Securities Lending and Borrowing Programme, except:
commercial paper
warrants
stripped issues
Notice periods
(in Business Days)
Recalls
Pending deliveries
Treasury bills
3
6
Treasury bonds
3
6
Commercial paper
3
6
Medium-term notes
3
6
Corporate bonds
3
6
Mortgage bonds
3
6
Equities
2
6
Warrants
2
6
Government debt securities
Corporate debt securities
Equities and related securities
For more information on the Recall period, consult How recalls work.
Specific feature
When a second or subsequent tranche of a multi-tranche issue is distributed in the domestic market after the batch process dated the issuance date (S),
you may borrow securities to settle new-tranche securities transaction instructions through the batch process dated S.
SEK - Money transfer
Money transfer Sweden Euroclear Bank 5W - How? 5W - What? 5W - When? 5W - Where?
cash instruction cash transaction
This section gives you all the information you need to send money transfer instructions in the Swedish krona (SEK) via Euroclear Bank:
the currency group
the Cash Correspondent’s information
input and cancellation deadlines
specific instruction requirements
reporting
Currency group
SEK belongs to currency group A.
Cash Correspondents
Skandinaviska Enskilda Banken AB, Stockholm
SWIFT BIC: ESSESESS
Euroclear Bank account number: 52018532901
Svenska Handelsbanken AB
SWIFT BIC: HANDSESS
Euroclear Bank account number: 40367029
Input and cancellation deadlines
The Quick cash card gives an overview of the input and cancellation deadlines for money transfer instructions in EUCLID/SWIFT or telex/SWIFT
free format.
Specific instruction requirements
For your MT 210 instructions, you must input the SWIFT BIC of the relevant Euroclear Bank Cash Correspondent in field :56A:.
Reporting
For an overview of all money transfer reports, consult the Cash and credit reporting – Quick Card.