There are different types of powers of attorney in Sweden: power of attorney, manager’s power of attorney and procuration.
As a sole trader you have signatory power. Only you can sign on behalf of your business with legally binding effect. You decide whether to sign contracts, to take a mortgage, to hire staff, etc.
Power of attorney
By issuing someone a power of attorney (fullmakt) you give a person the legal right to act on your behalf. The person you issue the power of attorney to is called an “attorney”. In the power of attorney you define the powers you have given to the attorney. You may want to empower an attorney to run your bank errands, to buy and sell products for your business, to hire and fire employees, etc.
Manager’s power of attorney
If you are a sole trader residing in a country outside the European Economic Area (EEA), you must appoint a manager for your business in Sweden. The manager will act on your behalf. You must register your manager and the manager’s power of attorney with Bolagsverket. Read more about manager’s power of attorney on the page Residing abroad, see the menu.
Procuration (prokura) is another type of power of attorney. Issuing a procuration you allow someone else signatory power and to represent you in all matters concerning your business. Read more on the page Procuration, see the menu.