Norway

Company Formation in NorwayNorway is located in Northern Europe, west of Sweden, bordering the North Sea and the North Atlantic Ocean. The Norwegian economy is a prosperous one, with a vibrant private sector and a large state sector. The country has rich natural resources, mainly petroleum, hydropower, fish, forests, and minerals. It is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 20% of government revenue. Norway is the world’s second-largest gas exporter and the seventh largest oil exporter. Norway saves state revenue from the petroleum sector in the world’s second largest sovereign wealth fund. It is valued at over $500 billion in 2011 and the country uses the fund’s return to help finance public expenses. CompanyRegistrationsWorldwide.com can assist you in setting up a company in Norway.

The most popular forms of incorporation in Norway are:

  • Private Limited Company (AS)
  • Public Limited Company (ASA)
  • Branch Office of a foreign company

 

Setting up a Private Limited Company (AS) – what are the main features/requirements?

  • Most popular format for small and medium businesses
  • Minimum share capital 100,000 NOK (€12,836) and must be fully paid up
  • There must be at least one shareholder
  • A board of directors is required
  • If the shareholder/director is a non EU citizen then 50% of board members must be Norwegian residents
  • VAT threshold is NOK 50,000
  • An Accountant and Auditor must be appointed prior to incorporation.

 

Setting up a Public Limited Company (ASA) – what are the main features?

  • Minimum share capital is 1m NOK (€128,360) and must be fully paid up
  • There must be at least one shareholder
  • A board of directors required
  • If the shareholder/director is a non EU citizen then 50% of board members must be Norwegian residents

 

Setting up a Branch Office in Norway – what are the main features?

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

 

Can I get a Norwegian VAT number?

CompanyRegistrationsWorldwide.com can assist you with getting your new Norwegian company VAT registered. CompanyRegistrationsWorldwide.com work with fiscal advisers based in Norway. In order to obtain an Norwegian VAT number, you may have to have trading activity in Norway or have human and technical resources in Norway. A nominee director can help with this. We can act as secretary and supply a nominee director if needed.

Contact us today to see how we can help.

Is it possible to purchase a ready-made company in Norway?

CompanyRegistrationsWorldwide.com has a number of Norwegian ready-made companies available.  Ready-made companies in Norway allow for a speedy company set up without cutting corners. All transfers can be completed in a 2-3 working days. Contact us today for a quote.

Banking in Norway:

Banking in Norway is relatively easy and straightforward.

In order to open a corporate bank account for your Norwegian company, a face to face meeting with the bank may be required. We work with major Norwegian banks including Danske bank. Some of the corporate account features include:

 

  • Internet banking/remote access
  • Debit/credit cards
  • Low transaction fees
  • Multi-currency accounts

 

Speak with us today to see how we can open a Norwegian bank account for your Norwegian company.

Accounting in Norway:

Accounting and bookkeeping are an essential part of any new business. CompanyRegistrationsWorldwide.com can provide you with a tailor made accountancy/bookkeeping package to keep your Norwegian company compliant and in good standing with the authorities. We will be happy to meet with you face to face and work out the best solution for your Norwegian company. Contact us today to arrange a meeting.

Additional services

CompanyRegistrationsWorldwide.com can assist you in setting up a company in Norway, as well as a whole range of professional services which include:

  • Registered/virtual office services in Norway
  • Norwegian bank account introduction
  • Accounting/payroll services in Norway
  • Licencing requirements in Norway
  • Warehouse/premises identification in Norway

 

Contact CompanyRegistrationsWorldwide.com for more information on company incorporation in Norway.

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