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Norway

Open a company in Norway

Why open a company in Norway?

The world’s third biggest oil exporter after Saudi Arabia and Russia, Norway is a wealthy, stable democracy with an enviable ability to balance free-market capitalism and social welfare. The business climate is surprisingly benign, with a flat corporation tax rate of 28%. It is fairly straightforward to open a Norwegian company, provided you comply with the formalities.

What are the main types of Norwegian company formation structures?

  • Aksjeselskap (AS): public limited company
  • Allmennaksjeselskap (ASA): private limited company
  • branch office of a foreign company

What are the main features of a private limited company?

  • Most popular format for small and medium businesses
  • Minimum share capital of 100.000 NOK (€12.836), fully paid up
  • At least one shareholder; board of directors required. If the shareholder/director is a non EU citizen then 50% of board members must be Norwegian residents. Nominees can be provided.

What are the main features of a public limited company?

  • Standard format for large companies
  • Minimum share capital is 1m NOK (€128.360), fully paid up
  • At least one shareholder; board of directors required. If the shareholder/director is a non EU citizen then 50% of board members must be Norwegian residents. Nominees can be provided.

How to set up a branch office in Norway?

A foreign company may establish a branch in Norway provided that the foreign company is registered in its home country. Companies resident outside the EU area must obtain permission from the Minister of Industry. The branch must be registered in the Register of Business Enterprises.

Is Norway really a high-tax country?

Norway imposes high rates of tax on individuals – the higher rate of personal income tax is more than 53% – but companies are treated more leniently. There is a flat rate of 28% on all capital income and in addition, Norway provides a full dividend credit. This means it has the lowest combined dividend tax rate in the OECD.

Are there any restrictions on foreign investment in Norway?

Generally speaking the Norwegian government places foreign investors on an equal footing with domestic investors, but there are exceptions where the authorities feel the country’s strategic interests would otherwise be threatened. For example, foreigners may own no more than 40% of a Norwegian fishing fleet. Foreign ownership of a Norwegian air transport company is restricted to 30% but the all-important oil sector is now largely free of restrictions for international investors considering Norway incorporation.

Norway Incorporation

How easy is it to recruit staff in Norway?

Norway has low unemployment and high labor costs, a combination that can make recruitment more difficult than in many other countries. There is a shortage of workers in certain sectors such as construction, but there are recruitment agencies throughout the country. Please note that there are restrictions on bringing in foreign personnel from abroad. Obtaining work permits, particularly for semi-skilled workers, can be somewhat problematic.

What is the regulatory environment like?

Norway has eased its regulatory regime significantly in recent years for foreign investors wishing to open a Norwegian company. Foreign exchange can be freely repatriated subject to Central Bank reporting requirements. All companies have to file accounts with the Register of Business Enterprises and a statutory audit has to be carried out each year.

What is the corporate tax rate in Norway?

The corporate tax rate is 28% on profits.

Company Registration Norway

Are there financial incentives available in Norway?

Norway offers no significant general tax incentives for either domestic or foreign investors but there are exceptions for specific regions and industrial sectors:

  • Companies investing in Norway’s far north pay lower employee taxes
  • Tax rates are minimal on the Arctic island of Spitzbergen
  • A state fund provides grants for investment in areas of low employment
  • Tax deductions are allowed for research costs in key sectors such as oil

How much does it cost to open a company in Norway?

The value is € 7,430 and the services included in this amount are: business opening in Norway, bank account opening and VAT registration.Registered address for 12 months in Norway: cost € 4,000.

How can I obtain more information about opening a company in Norway?

Please contact us if you have questions and/or want to receive more information on opening a company in Norway.

Support

The benefits of having your own company are virtually unlimited. Opening and managing a company with Europa Expert’s orientation is even simpler and easier. We provide all the needed support to open and manage your company in Norway

Services we provide
Consulting for new companies (company’s name, website, etc.)
Initial registration
Corporate documents
Bank account in Norwegian bank
Business Address and Mailbox in Norway
Fiscal registration (VAT)
Accountancy (according to Norwegian Law)
Annual tax declaration
Virtual Office in Norway

Norway

Open a company in Norway

Why open a company in Norway?

The world’s third biggest oil exporter after Saudi Arabia and Russia, Norway is a wealthy, stable democracy with an enviable ability to balance free-market capitalism and social welfare. The business climate is surprisingly benign, with a flat corporation tax rate of 28%. It is fairly straightforward to open a Norwegian company, provided you comply with the formalities.

What are the main types of Norwegian company formation structures?

  • Aksjeselskap (AS): public limited company
  • Allmennaksjeselskap (ASA): private limited company
  • branch office of a foreign company

What are the main features of a private limited company?

  • Most popular format for small and medium businesses
  • Minimum share capital of 100.000 NOK (€12.836), fully paid up
  • At least one shareholder; board of directors required. If the shareholder/director is a non EU citizen then 50% of board members must be Norwegian residents. Nominees can be provided.

What are the main features of a public limited company?

  • Standard format for large companies
  • Minimum share capital is 1m NOK (€128.360), fully paid up
  • At least one shareholder; board of directors required. If the shareholder/director is a non EU citizen then 50% of board members must be Norwegian residents. Nominees can be provided.

How to set up a branch office in Norway?

A foreign company may establish a branch in Norway provided that the foreign company is registered in its home country. Companies resident outside the EU area must obtain permission from the Minister of Industry. The branch must be registered in the Register of Business Enterprises.

Is Norway really a high-tax country?

Norway imposes high rates of tax on individuals – the higher rate of personal income tax is more than 53% – but companies are treated more leniently. There is a flat rate of 28% on all capital income and in addition, Norway provides a full dividend credit. This means it has the lowest combined dividend tax rate in the OECD.

Are there any restrictions on foreign investment in Norway?

Generally speaking the Norwegian government places foreign investors on an equal footing with domestic investors, but there are exceptions where the authorities feel the country’s strategic interests would otherwise be threatened. For example, foreigners may own no more than 40% of a Norwegian fishing fleet. Foreign ownership of a Norwegian air transport company is restricted to 30% but the all-important oil sector is now largely free of restrictions for international investors considering Norway incorporation.

Norway Incorporation

How easy is it to recruit staff in Norway?

Norway has low unemployment and high labor costs, a combination that can make recruitment more difficult than in many other countries. There is a shortage of workers in certain sectors such as construction, but there are recruitment agencies throughout the country. Please note that there are restrictions on bringing in foreign personnel from abroad. Obtaining work permits, particularly for semi-skilled workers, can be somewhat problematic.

What is the regulatory environment like?

Norway has eased its regulatory regime significantly in recent years for foreign investors wishing to open a Norwegian company. Foreign exchange can be freely repatriated subject to Central Bank reporting requirements. All companies have to file accounts with the Register of Business Enterprises and a statutory audit has to be carried out each year.

What is the corporate tax rate in Norway?

The corporate tax rate is 28% on profits.

Company Registration Norway

Are there financial incentives available in Norway?

Norway offers no significant general tax incentives for either domestic or foreign investors but there are exceptions for specific regions and industrial sectors:

  • Companies investing in Norway’s far north pay lower employee taxes
  • Tax rates are minimal on the Arctic island of Spitzbergen
  • A state fund provides grants for investment in areas of low employment
  • Tax deductions are allowed for research costs in key sectors such as oil

How much does it cost to open a company in Norway?

The value is € 7,430 and the services included in this amount are: business opening in Norway, bank account opening and VAT registration.Registered address for 12 months in Norway: cost € 4,000.

How can I obtain more information about opening a company in Norway?

Please contact us if you have questions and/or want to receive more information on opening a company in Norway.

Support

The benefits of having your own company are virtually unlimited. Opening and managing a company with Europa Expert’s orientation is even simpler and easier. We provide all the needed support to open and manage your company in Norway

Services we provide
Consulting for new companies (company’s name, website, etc.)
Initial registration
Corporate documents
Bank account in Norwegian bank
Business Address and Mailbox in Norway
Fiscal registration (VAT)
Accountancy (according to Norwegian Law)
Annual tax declaration
Virtual Office in Norway

IN THE USA: + 1 305 824-9100 FAX: 305 675-8584  409 NW 10th Terrace Hallandale Beach, FL 33009

IN BRAZIL:  +55 11 4063-6052 FAX: 11 3957-1612 Rua Maestro Cardim, 354 – Cjs 91 e 92 Bela Vista – São Paulo/SP                                01323-000 – Brazil

IN EUROPE: +44 020 8144-5686    

 IN THE USA: + 1 305 824-9100

 FAX: 305 675-8584
 409 NW 10th Terrace
 Hallandale Beach, FL 33009 

 IN BRAZIL: +55 11 4063-6052 

 FAX: 11 3957-1612

 Rua Maestro Cardim, 354 – Cjs 91 e 92 

 Bela Vista – São Paulo/SP

 01323-000 – Brazil 

 IN EUROPE: +44 020 8144-5686 

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