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Company formation in Norway
Comprehensive assistance in company formation, including banking services
How to form a company in Norway
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Norway and opening a bank account in Norway
2
Payment of services
Payment of our services for company formation in Norway
and/or bank account assistance in Norway
and/or bank account assistance in Norway
3
Company formation
We register a new company in Albania for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to forming a company in Norway
Interest and royalties withholding tax rate is 0%.
1. Founders of a company in Norway can either be resident or non-resident in Norway. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a director in Norway. However, it is required to set up a company in Norway with a resident individual or an EEA resident individual as one of its directors.
3. One individual can be simultaneously a shareholder and a director in a company in Norway if such company is registered as a AS (a limited liability company).
4. There is no requirement for creating substance in Norway - no need to hire local employees or rent an office in order to establish a company in Norway or to conduct business in Norway.
5. Minimum share capital that is required to register a company in Norway as a AS (a limited liability company) is NOK 30,000.
6. Information about company founders, shareholders and directors after a company registration in Norway is complete is publicly available in the state corporate register.
7. A company in Norway can be registered remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Oslo for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a director in Norway. However, it is required to set up a company in Norway with a resident individual or an EEA resident individual as one of its directors.
3. One individual can be simultaneously a shareholder and a director in a company in Norway if such company is registered as a AS (a limited liability company).
4. There is no requirement for creating substance in Norway - no need to hire local employees or rent an office in order to establish a company in Norway or to conduct business in Norway.
5. Minimum share capital that is required to register a company in Norway as a AS (a limited liability company) is NOK 30,000.
6. Information about company founders, shareholders and directors after a company registration in Norway is complete is publicly available in the state corporate register.
7. A company in Norway can be registered remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Oslo for 1 day in order to open a corporate bank account.
Cost of services
Formation of a AS
Timeframe - 12 business days
Timeframe - 12 business days
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Advantages of forming a company in Norway
Attractive business-environment
- Access to major EU markets
- Access to the North Sea and to the Barents Sea, as well as to the Arctic Ocean allows to establish maritime trade
- High productivity and innovation
- Stable economic growth
- Highly-qualified workforce
- Low inflation
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- Corporate income tax incentive for group taxation
- Interest withholding tax rate is 0%
- Royalties withholding tax rate is 0%
- Corporate income tax incentive for R&D
- Multiple double tax treaties
No foreign exchange controls
- Norway state regulations do not impose foreign exchange controls. Individuals and business-entities, either resident or non-resident in Norway may open bank accounts in local banks in any currency
Ease of establishing and doing business
- Remote company formation in Norway is available
- Bank account assistance in leading European banks is available
More about Norway
The Kingdom of Norway is located in Northern Europe on the Scandinavian Peninsula. Norway has a territory of 385,207 square kilometers. Norway has access to the Norwegian Sea and to the Barents Sea, as well as to the Arctic Ocean. Norway borders Sweden, Finland and Russia. The capital city of Norway is Oslo, the largest city and the location of key government institutions.
Norway has a population of 5,43 million people.
Norway has a population of 5,43 million people.
Official currency of Norway is Norwegian krone (NOK).
Norway has a highly-developed mixed economy with state ownership in strategic sectors. The government has large ownership positions in key industrial sectors, such as the strategic petroleum sector (Statoil), hydroelectric energy production (Statkraft), aluminium production (Norsk Hydro), the largest Norwegian bank (DNB), and telecommunication provider (Telenor). The country is richly endowed with natural resources including petroleum, hydropower, fish, forests, and minerals. Large reserves of petroleum and natural gas were discovered in the 1960s, which led to a boom in the economy. Norway has obtained one of the highest standards of living in the world in part by having a large amount of natural resources compared to the size of the population.
The GDP of Norway grew by 3.9% in 2021 and amounted to USD 482.2 billion. Tertiary sector makes up 52.51% of the GDP of the country, followed by industry sector at 35.6%, agriculture at 1.6%.
In terms of foreign trade the largest exports of the country are oil, natural gas, petroleum, crude, electrical energy, chemicals, ships, unwrought aluminium, unwrought nickel, fish, fish fillets and fish meat.
Imports of Norway consist of cars and vehicles, electrical equipment, consumer goods, medicaments, structures, plastics, furniture, optical equipment, communication equipment.
Primary trading partners of Norway are Germany, United Kingdom, Sweden, Netherlands, Denmark, Finland, Poland, USA, Belgium, China, Italy and France.
Norway has a highly-developed mixed economy with state ownership in strategic sectors. The government has large ownership positions in key industrial sectors, such as the strategic petroleum sector (Statoil), hydroelectric energy production (Statkraft), aluminium production (Norsk Hydro), the largest Norwegian bank (DNB), and telecommunication provider (Telenor). The country is richly endowed with natural resources including petroleum, hydropower, fish, forests, and minerals. Large reserves of petroleum and natural gas were discovered in the 1960s, which led to a boom in the economy. Norway has obtained one of the highest standards of living in the world in part by having a large amount of natural resources compared to the size of the population.
The GDP of Norway grew by 3.9% in 2021 and amounted to USD 482.2 billion. Tertiary sector makes up 52.51% of the GDP of the country, followed by industry sector at 35.6%, agriculture at 1.6%.
In terms of foreign trade the largest exports of the country are oil, natural gas, petroleum, crude, electrical energy, chemicals, ships, unwrought aluminium, unwrought nickel, fish, fish fillets and fish meat.
Imports of Norway consist of cars and vehicles, electrical equipment, consumer goods, medicaments, structures, plastics, furniture, optical equipment, communication equipment.
Primary trading partners of Norway are Germany, United Kingdom, Sweden, Netherlands, Denmark, Finland, Poland, USA, Belgium, China, Italy and France.
International business expands to Norway and incorporates a company in Norway primarily for:
Restricted for foreign entrepreneurs are the following sectors:
- renewable energy
- wholesale and retail trade
- life sciences
- space
- battery tech
- ocean tech
- ICT
- digitalisation
- tourism
- maritime services
- seafood sector.
Restricted for foreign entrepreneurs are the following sectors:
- defense industry
- television
- telecommunications and radio
- air transport
- postal services.
- Corporate income tax - 22%. Tax returns are filed on an annual basis. Advance income tax payments are made three times a year
- Dividend withholding tax - Standard tax rate 25%
- Interest withholding tax - Standard tax rate 0%
- Royalties withholding tax - Standard tax rate 0%
- Capital gains tax - 22%
- VAT - Standard tax rate 25% or reduced rates from 0% up to 12% or tax exempt. Tax returns are filed on a bimonthly or an annual basis
- Personal income tax - from 0% up to 22%.
Apart from such traditional business entity types as a private limited company (Aksjeselskap - AS) and a public limited company (Allmennaksjeselskap - ASA), corporate law in Norway offers to establish a business as:
1. General partnership (Ansvarlig selskap - ANS og DA)
2. Limited partnership (Kommandittselskap - KS)
3. Cooperative company with a limited liability (Andelslag med begrenset ansvar - BA)
4. European company (Societas Europaea)
5. Norwegian branch of a foreign company (Norskregistrerte utenlands foretak - NUF)
To receive a detailed description of the company formation procedure in Finland and information about documents necessary for company formation in Finland please contact our experts.
1. General partnership (Ansvarlig selskap - ANS og DA)
2. Limited partnership (Kommandittselskap - KS)
3. Cooperative company with a limited liability (Andelslag med begrenset ansvar - BA)
4. European company (Societas Europaea)
5. Norwegian branch of a foreign company (Norskregistrerte utenlands foretak - NUF)
To receive a detailed description of the company formation procedure in Finland and information about documents necessary for company formation in Finland please contact our experts.
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London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
