What is independent contracting?
Being an independent contractor is somewhere between being employed and running your own company. As an independent contractor you are an employee of Cool Company, but you carry out your assignments as if you ran your own company. You find your own clients, determine your own prices, your own payment terms and how quickly you want your money.
As an independent contractor with Cool Company, you do not need to be registered for corporation tax as we are responsible as your employer. We deal with bookkeeping and also take care of taxes, contributions and VAT, making sure they’re paid in time – leaving you to focus all your time and energy on your clients and your assignments.
Can anyone be an independent contractor?
Yes, you can issue invoices as an independent contactor, without registering a company and without corporation tax, provided that:Yes, you can issue invoices as an independent contactor, without registering a company and without corporation tax, provided that:
- You are at least 18 years old and legally competent
- You have not been disqualified from trading for any reason
- Have a work permit for Sweden or are a citizen of the EU
What are the similarities between being an independent contractor and being employed?
Being an independent contractor means having the same peace of mind as an employee, but the same freedom as an independent business owner. Similarities with employment:
- You are a general fixed-term employee and are paid as a contractor.
- We deal with all contact with the Swedish Tax Agency.
- We take care of your statutory payments such as tax, contributions and VAT.
- You are also insured, provided you pre-register your assignments before carrying them out.
Differences with employment: You are freer as an independent contractor as you don’t have a boss. You determine your own salary and working hours, and which assignments you accept and decline.
When do I get paid as an independent contractor?
You get paid within 24 hours of us receiving payment from your client. You can select payment terms of 10, 20 or 30 days for your invoices (i.e. the number of days your client has to pay). We notify you by email when we receive your client’s payment.
Need to be paid even quicker? You can apply for Cool Company’s ExpressPay® service. That way, you get paid as soon as we’ve approved your ExpressPay® application and the client has approved your invoice.