Together with the application form, you must provide documentation which enables the Swedish Energy Agency to secure identity and, if necessary, make background checks on the account holder.
The following documentation must be attached to the application form when you apply for a trading account:
- Evidence of the account holder's identity
- Evidence of address of permanent residence for the account holder
- Evidence of open bank account for the account holder
- Annual report
- Extract from the criminal record for the company’s signatories
Below is a description of each required item and what should be attached to the application.
According to the Registry regulation, the Swedish Energy Agency can also request an extract from the criminal record regarding the beneficial owners.
The difference between a natural and a legal person
To understand the requirements that apply to your application, it might be good to understand the difference between a natural and legal person.
Natural person is a legal term for a person or individual in the true sense, a human being, as opposed to a legal person which may, for example, consist of a company, an association or a natural person's estate.
Evidence of the account holder’s identity
Evidence of the account holder's identity shall include a copy of all the following:
a. If legal person:
- A copy of the instruments establishing the legal entity.
- A copy of a document proving the registration of the legal entity; (For Swedish organisations, this can be provided by an extract from the Swedish Companies Registration Office).
- A confirmation of VAT registration.
- Information on the legal entity's beneficial owner as defined in Directive 2005/60/EC including the type of ownership or control they are exercising, see Clarification about beneficial owner.
- A list of directors. If a Power of attorney must be submitted, this must also contain information on persons with right to sign for the firm.
b. If natural person:
1. An identity card or passport issued by a state that is a member of the European Economic Area(EEA) or the Organisation for Economic Co-operation and Development(OECD) or other passport.
Clarification about beneficial owner
Extract from Article 3 in 2005/60/EG:
(6) 'beneficial owner' means the natural person(s) who ultimately owns or controls the customer and/or the natural person on whose behalf a transaction or activity is being conducted. The beneficial owner shall at least include:
(a)in the case of corporate entities: (i) the natural person(s) who ultimately owns or controls a legal entity through direct or indirect ownership or control over a sufficient %age of the shares or voting rights in that legal entity, including through bearer share holdings, other than a company listed on a regulated market that is subject to disclosure requirements consistent with Community legislation or subject to equivalent international standards; a %age of 25 % plus one share shall be deemed sufficient to meet this criterion;
(ii) the natural person(s) who otherwise exercises control over the management of a legal entity:
(b)in the case of legal entities, such as foundations, and legal arrangements, such as trusts, which administer and distribute funds:
(i) where the future beneficiaries have already been determined, the natural person(s) who is the beneficiary of 25 % or more of the property of a legal arrangement or entity;
(ii) where the individuals that benefit from the legal arrangement or entity have yet to be determined, the class of persons in whose main interest the legal arrangement or entity is set up or operates;
(iii) the natural person(s) who exercises control over 25 % or more of the property of a legal arrangement or entity.
Evidence of permanent address
Evidence of permanent address may be a copy of any of the following:
a. If legal person:
- Evidence of the registered address of the legal person, if this is not clear from document attached as evidence of identity.
b. If natural person:
- Evidence of the address of permanent residence may be copy of any of the following:
• The evidence of identity document if it contains the address of permanent residence.
• Any other government-issued identity document that contains the address of permanent residence.
• A statement from the local authorities confirming the address of permanent residence.
Evidence of open bank account
- You must supply evidence of an open bank account within the European Economic Area (EEA). The evidence may be a certified copy of a bank statement or a document signed by the bank.
A copy of the annual report or the most recently audited annual report must be submitted. If no audited annual report is available, we accept a copy of the financial statements stamped by the tax office or CFO.
The annual report can be sent digitally via e-mail.
Extracts from the criminal record
According to the Registry regulation, the Swedish Energy Agency also requests extracts from the criminal record for the account holder's signatories.
This is done to preserve the security of the Union Registry and to protect our account holders from fraud and other irregularities in the Registry.
The account holder's signatory needs to submit an extract from the police's criminal record, or equivalent. It must be requested by the applicant and sent to the Swedish Energy Agency in the unopened envelope in which was delivered.
The envelope containing extract must be sent unbroken to the Swedish Energy Agency.