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The Local _ Finance _ Sending money outside EU

Posted by: omerkay 30.Sep.2013, 07:25 PM

Hi,

Is there any maximum limit on how much money (in a month or year) can one send outside of EU?
The money is intended as a loan to friend so she can start a business. Honestly speaking I do not see myself making any money, I will be happy if I get the principal amount back in a couple of years smile.gif.

I am thinking of making a wire transfer through my bank.Should I inform skateverket? Or will the bank take care of it?

Thanks in advance for any sort of help.

Cheers

Posted by: Bender B Rodriquez 30.Sep.2013, 11:24 PM

QUOTE (omerkay @ 30.Sep.2013, 08:25 PM) *
Is there any maximum limit on how much money (in a month or year) can one send outside of EU?

No.

QUOTE (omerkay @ 30.Sep.2013, 08:25 PM) *
Should I inform skateverket?

No need to. Skatteverket does not care about money going out of the country; only money going in.

Posted by: AgeOfReason 1.Oct.2013, 08:29 AM

Skatteverket are only interested as far as whether the money you are sending has been taxed, assuming it is income from something! You do not need to inform them of anything it is the banks responsibility to notify authorities.

It is not only tax related money transfers that are reviewed, financial institutions are also responsible for tracking transfers of funds into/out of Sweden with regards money laundring laws and funding of terrorists etc. So, depending where and how much you are sending you might sooner or later get questions, especially if the destination country has links to terrorism, known destinations for money laundring and such. Reasonable amounts during the year are insignificant, since it is common that visiting workers are sending money back home on a regular basis.

Posted by: Essingen 1.Oct.2013, 09:16 AM

QUOTE
You do not need to inform them of anything it is the banks responsibility to notify authorities.

Is it not the case though, that since a bank does not know the reason for the cross-border transaction it will send you a form to complete, which you then return to them who forward it to the relevant authority.

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