The case management process

The case management process consists of two steps – an assessment phase (phase 1) and a screening phase (phase 2). Cases that do not proceed to an in-depth screening are concluded in phase 1.

Submission of a direct investment notification

The notification should preferably be submitted via Kundwebben, a web-based tool for companies dealing with the ISP. Information on how to connect your organisation to Kundwebben can be found in Swedish here.

Alternatively, the notification can be sent by e-mail to: registrator@isp.se .

If the investor fails to notify the ISP of an investment despite the obligation to do so, the ISP may compile data for the notification.

Who is obliged to notify

The notification must be made by the investor. If the notification is made by an authorised representative, a power of attorney authorising the representative to represent the investor must be attached to the notification.

Requirement for a complete notification

When a notification is received by the ISP, its completeness is assessed. The notification is complete only when the information specified in the ISP's notification instructions has been provided. If the notification is not complete, additional information will be requested. The ISP will promptly notify the investor or its representative if the notification lacks mandatory information. The ISP may choose to assess an investment despite the absence of mandatory information. This applies if the information is not available or necessary for the ISP's assessment.

Phase 1 – assessment phase – 25 working days

Once the notification is complete, the ISP has 25 working days to examine the notification and issue a decision. In this phase, the ISP investigates whether there is a foreign direct investment in protection-worthy activities that may have a harmful impact on Sweden's security or on public order or public security in Sweden. For this assessment, the ISP may request more information from the investor than is required in the notification.

Decision in the assessment phase

When the assessment in phase 1 is complete, the ISP will decide whether to take no action or whether to initiate screening of the investment.

A notification will not lead to action if the ISP finds that there is no reason to assume that it concerns a foreign direct investment that may have a harmful impact on Sweden’s security or on public order or public security in Sweden. If this is not the case, the ISP will decide to initiate screening of the investment.

Phase 2 – screening phase  – three months

Once the ISP has decided to initiate screening, the Authority has three months to conduct the screening and decide to either prohibit or authorise the investment. If special grounds exist, the decision may be issued within six months.

In the screening phase, a deeper investigation is conducted. In this phase, the ISP can pose additional and more detailed questions to the investor, as well as to the company that is the subject of the investment. Both must, at the request of the ISP, provide the information or documents that the Authority needs for its screening. During the screening, the ISP may also obtain information from other authorities identified in the Ordinance on Screening of Foreign Direct Investments (2023:624). The ISP may also request information from municipalities and regions.

In its screening, the ISP must cooperate with the government agencies designated by the Government.

Decision

When the screening is complete, the ISP must decide to either prohibit or authorise the investment.

• The investment is prohibited
  A foreign direct investment in protection-worthy activities must be prohibited if this is necessary to prevent harmful impact on Sweden's security or on public order or public security in Sweden.

• The investment is authorised
  If there is no reason to prohibit an investment that has been screened, it must be authorised.

• The investment is granted conditional authorisation
  Authorisation of a foreign direct investment in protection-worthy activities may be subject to conditions, if this is necessary to prevent harmful impact on Sweden's security or on public policy or public security in Sweden.

Appeals

Decisions on prohibition and decisions on conditional authorisation may be appealed to the Government.