Norway Company Formation

Opening a company in Norway

Why start a company in Norway? What are the advantages in Norway?
Norway, a country that is part of the European Union, is a convenient solution for many.

The local currency is the Norwegian Krone (NOK).

Norway is an important country that is part of the Scandinavian countries, with a local market that understands the English language very well.

A country in Northern Europe, part of the Scandinavian countries, and it is a very important strategic location for import/export operations from Europe. Oslo's positive position as a port city for import/export from or to Europe can export or import goods to European countries and thus reach more than 500 million consumers.

Investors see Norway as one of the most unique investment destinations. The tourists are fascinated by the Norwegian hospitality and friendliness, by the cultural heritage of Norway and the natural wealth of the country.

The process of opening a company in Norway
Opening a company in Norway begins with the signing of incorporation documents. Unlike the process of opening a company abroad in most countries, in order to open a company there is no need to sign the incorporation documents in front of a notary. The documents are sent electronically to register companies in Norway (the Norwegian company register is called Erhvervsstyrelsen). When then you have to deposit the equity.

In Norway, all incorporation documents are also in English, which makes the process of setting up a company in Norway very convenient.

A company form is issued from the commercial register, and it can work with the Norwegian certificate of incorporation.

The requirement for local directors for a limited company in Norway
In Norway, at least 50% of the board will be Norwegian or someone who lives in one of the EU countries. Do not open the company without this requirement.

However, Norway does not require a local owner. In Norway you also do not need any European citizenship to open a company. You can open a Norwegian company even if you are a foreign citizen. This means that it is possible to open the company with 100% shareholding in the name of a foreign citizen - in your name, or even in the name of a foreign company. The director can be foreign, but as mentioned above, 50% of the actors will live in Norway or one of the European Union countries.

Equity Capital
Opening a company in Norway requires a minimum equity deposit of 30,000 Norwegian kroner, which is approximately 4,022 euros.

Opening a bank account in Norway - current account for the company
In Norway, the actual deposit of the aforementioned equity is before the company is opened. Therefore, in order to establish the company in Norway, a bank account must be opened for the purpose of depositing the equity. Arrive in the country.

The account where the equity is deposited is actually an active current account for all intents and purposes.

VAT registration
After the opening of the company, to open the current bank account for the company, the registration of the new company in VAT will also be carried out. The company will receive a VAT number and can start trading.

Tax number for foreigners
The foreign directors and CEO must apply for the D number (ID number for foreigners) needed to be registered as CEO and director in the Norwegian Companies Register.

A director can also assume the role of CEO and vice versa.

EORI number
information and you will need it, we can obtain an EORI number for you to import or export with the company within Europe.
EORI is an abbreviation of Economic Operator Registration and Identification Number.

Company maintenance
The company requires annual maintenance of payment of fees, annual submissions, local address (which we will provide for you), as well as submissions to the tax authority.

Tax in Norway
The corporate tax rate in Norway is 22%.
For sales to the domestic Norwegian market, the VAT is 25%.

Questions and answers
Question: Do you have to physically fly to Norway to open a Norwegian company?
Answer: Every act is legal and at no point is it necessary to physically arrive in Norway. There is no need to fly to Norway to open the company, let alone the company's bank account for which you will move to Norway and open the account physically at the branch.

Question: Who provides the local address for the new company?
Answer: We will provide the local address.

Question: How can I find a good account that our company can?
Answer: We will connect you with a local accountant.

Question: If I want to Norway to open a bank account, what should I do?
Answer: We will try ahead of time to arrange a meeting for you at the branch. You need to sign the account opening forms, so that everything is in order before you arrive, so that you don't wander around just trying to find which branch will accept you and open a bank account for your new company in Norway.

Question: What type of Norwegian company should I open?
Answer: Norway has only one type of society, there is really no reason to hesitate. This type is the usual and well-known limited liability company. In Norway, the company is called "Action Company", or for short - "AS".

Question: Is it necessary to restrain a European in order to start a normal company?
Answer: There is no need for a European passport. We can open a company in Norway for any foreign citizen as long as he has a valid passport.

Question: How long does it take to open a company in Norway?
Answer: Opening the company is very fast and can only take about one week. After that, opening the bank account takes about 3 weeks, depending on the readiness of the banks to accept the new company as a customer. Of course, these are times that depend on the jazz side and evaluation only.

Question: Is it possible to open a company in Norway for a person with American citizenship or a person living in the USA?
Answer: Yes. We know how to open a company in Norway for a person with American citizenship or a person living in the USA.

On the face of it, it seems trivial that a person with ties to the USA could open a company in Norway, but we assure you that this is not the case. Today, all banks in Norway without exception refuse to open an account for a new Norwegian company if its owner has any ties to the USA. Therefore, we are probably the only ones, and certainly one of the few in Norway, who know how to open a company in Norway for a person with American citizenship or who lives in the USA.

Question: Is it possible to define that any foreign company will be the subsidiary of a company in Norway?
Answer: Yes, absolutely, we know how to do such a process with the foreign Registrar of Companies without any problems and in a completely smooth manner.

Question: How much does it cost to open a company in Norway?
Answer: Click here and get in touch and get a current quote without obligation!