Norway is a northern European country with a developed economy. Investors consider a state a good place for a business. If you decide to open a Norwegian branch, remember, that all legal responsibility lies with the foreign parent company. Your representative must register in the Norwegian VAT Register. When establishing a commercial organization in Norway, you need to choose the appropriate legal form.
- LLC: the liability of participants is limited by a volume of their investments. LLC has rules, governing its ownership. An authorized capital is 30 000 NOK. Such a company should include: min 1 shareholder and 2 directors.
- AO: each owner is responsible for investments to the authorized capital. Primary requirements:
- A min authorized fund is 100,000 NOK.
- Shares of such firm must be registered.
- At least 1 shareholder, a general meeting and a board are required.
- Norwegian AS must have a registered office.
- AS shareholders are liable for debts of the firm within their equity contributions.
- a General Partnership can be established by at least 2 participants, who are responsible for company's profits/losses. Their responsibility is not limited.
- Min 2 directors. One of which must be a resident of Norway. No requirements for the residence of shareholders.
- A Board of Directors, consisting of 2-3 members and a deputy board of directors, is mandatory.
- Most members of the Board of Directors should consist of residents or citizens of Norway.
- A local registered office is mandatory.
- Partners must deposit the min paid-up capital (NOK 30,000).
- The company must apply for a VAT registration, it is possibly at the same time as the registration of the company.
- a photocopy of the passport;
- the identity card or driver’s license;
- a bank statement as a proof of residence.
These documents must, also, be submitted, when opening an account in Norway along with other application forms or documents, requested by the bank.
Foreign investors must apply for a D number at the Brønnøysund Registration Center. After receiving the D-number, investors can start preparing documents for registering the Norwegian company and open a bank account in Norway for making the authorized capital. Thereafter, the auditor will issue a certificate, that all money is blocked. The certificate will be added to the company registration file.
- an income tax is 27%;
- a standard VAT charge is 25%;
- dividends are 25%.
An accounting and auditing are required.
If you decide to set up an enterprise in Norway, or open an account in Norway, contact experienced YB Case team. We will provide you with support at all stages of the business registration abroad.