Company Formation Norway
Norway is a very small country situated in Northern Europe and it has a very developed economy - that is why foreign investors will find it as a very suitable destination for company incorporation.
Any person of any nationality or residence can be a shareholder or a director in a Norwegian company. Norwegian companies must also have a board of directors formed by three members or by two members and a deputy board member. At least one half of the members of the board of directors must be Norwegian residents or citizens. Companies in Norway must hold a local registered office.
Steps for company incorporation in Norway:
The first step when registering a Norwegian company is to choose three company names, submit them with the Brønnøysund Register Centre and reserve the most appropriate one depending on its availability.
The next step will be providing identification documents such as:
- passport copies,
- identification cards or driver license,
- a recent utility bill or a bank statement as proof of residential address.
These documents must also be submitted when opening the share capital bank account, along with other application forms or documents requested by the bank.
Foreign investors are also required to apply for a D-number with the Brønnøysund Register Centre, as D-numbers are required for foreign investors that have to deal with the Norwegian authorities.
The D-number is issued by the Office of the National Registrar. The D-number applications will be submitted with the Population Register in Norway along with the notarized copies of the passports. After obtaining the D-number, investors can start preparing the documents for the registration of the company and open the share capital bank account. Once the share capital has been deposited, an auditor will issue a certification stating the money has been blocked. The certificate will be appended to the company’s registration file.
One of the key features of incorporating a company in Norway is that no presentation in front of a notary public is needed in order to submit the registration documentation.
The final step will be submitting the registration file containing all required documents with the Brønnøysund Register Centre and receive the company’s registration number.
Our team of agents provides company formation in Norway. Our assistance includes:
- drawing up the articles of association;
- drawing up documents for company incorporation in Norway: specimen signatures, identification papers copies, application form required by the Norwegian Company Registration Office;
- providing a registered office in Norway on demand; the registered office serves as headquarters for the company in Norway and it will be made public;
- setting up a bank account for the company in Norway; BridgeWest will help in setting up the share capital bank account, as well as a current bank account once the company is incorporated; - recommending a Norwegian accountant, as accounting services are needed for new businesses in Norway.
Types of companies in Norway- Limited liability company in Norway (Aksjeloven, AS) - The Norwegian limited liability company must have at least one shareholder, a general assembly and a management board. The Norwegian AS must also have registered office and must deposit a minimum share capital of 30,000 NOK (approximately 4,000 EUR). The shareholders of a Norwegian AS will be held liable for the company’s debts and obligations to the extent of their share contributions.
- Joint stock company in Norway (Allmennaksjeselskap, A.S.A.) - The Norwegian joint stock company requires a minimum share capital of 1,000,000 NOK (approximately 125,000 EUR). It requires minimum one shareholder, a management board and a registered office. The shareholders will be held liable to the extent of their participation for the company’s debts and obligations.
- Norwegian Branch, Subsidiary or Representative Office - Foreign companies are allowed to set up separate enterprises from the parent company, where the foreign company will be a shareholder in a Norwegian company. Foreign companies can also open extensions of the parent company in Norway.
Taxation in NorwayThe corporate tax in Norway is 27%.
The value added tax (VAT) in Norway is 25%, but a reduced rate of 15% applies to foodstuff.
The dividend tax in Norway is 25%, unless double taxation treaties apply. There is no withholding tax on interests and royalties.
BridgeWest is also able to offer ready-made Norwegian companies and VAT registration.
Please contact us for more information regarding how to open a company in Norway and prices.