Registration of Company in Norway

Norway (which full title is the Kingdom of Norway) is one of the countries of the Scandinavian Peninsula, located in the north-western part of Europe. Eastern neighbor of the state is Sweden, and Norway also shares border with Finland and the Russian Federation in the north-east. The area of state is about 385 000 km2.

Norway is the unitary state existing on the basis of the principles of constitutional monarchy and parliamentary democracy. The state and executive power is headed by the King of Norway. Legislative functions are performed by bicameral parliament, known as the Storting.

The capital of the state is the city of Oslo.
The number of Norway's population is close to 5 million people.
According to its administrative arrangement the country is divided into 19 regions (counties).

The official language is Norwegian, which exists in two forms.

The landscapes of Norway are very picturesque. Here it is possible to see magnificent mountain ranges, rugged by glaciers, narrow fjords and green valleys. Most of the country’s territory (70%) is occupied by the Scandinavian mountains. Permafrost and ice sheets cover huge areas of Norway.

In the north of Norway the climate conditions correspond to subarctic climate, and coastal areas are under the influence of the oceanic climate.

Stability of economic and political situation are the main factors that influence the investment attractiveness of the country. Therefore, more and more entrepreneurs tend to register a company in Norway.

Approximately a quarter of all foreign enterprises registered in Norway are involved in sales and rentals of real estate. In addition, highly profitable business in Norway is associated with the processing of fish. This field of activity is really cost-effective. Another type of successful companies in Norway is travel agencies or entertainment centers.

Forms of doing business

Business in Norway is constantly growing and developing.

Company registration in Norway is possible in the following forms:

• Limited Liability Company (LLC);
• Public Joint Stock Company (PJSC);
• General Partnership;
• Limited Liability Partnership.

The most popular forms of business in Norway is LLC and JSC.

Registration of LLC company in Norway. Peculiarities.

• Minimum share capital is NOK 30 000.
• The company's shares can not be made public and freely transferred.
• The company can have one shareholder and two or more directors.

Registration of joint stock company in Norway. Main provisions.

• The amount of the minimum share capital is NOK 1000000.
• The company is obliged to provide the public an opportunity to acquire shares.
• Property rights are regulated by the rules of the company.

What do you need to know about registration the general partnership in Norway?

• Activities are regulated by special Act on partnership.
• Two or more participants (general partners) can establish company.
• Minimum capital is not required.

Registration of partnership with limited liability

• At least two participants are required for registration of this type of company in Norway.
• Minimum authorized capital is not fixed.
• The company has two types of partners (general and limited).

The following requirements are necessary to establish company in Norway:

- Three names of company;

- Set of documents that certify the identities of all directors;

- Opening bank account;

- Submission of documents to the Register of Commerce.

Each company should have a registered office in Norway. Any person can be the company's shareholder. The Board of Directors shall consist of at least two people. The founder of the company in Norway shall be over 18 years old.
Foreigners are required to have residence permit.

Taxes in Norway

General tax rate equals to 25%.

VAT is 25%.

Tax on dividends is 25%.

For investors from the OECD countries, tax on dividends equals to 15%.

Bookkeeping in Norway

Annual report shall be submitted.

The company shall undergo mandatory audit of the financial report.

The company discloses information about income in annual report and balance sheet.

It is now simple to register or buy company in Norway. Registration of companies and enterprises abroad is one of the main fields of our activity. You can clarify information concerning possibility of establishing offshore company in Norway during the personal conversation with our lawyers or by phone.

Let business registration in Norway become a successful business start for you!