Company Formation in Norway

Company Formation in Norway

Company formation in Norway, Europe’s northernmost country, is simple as our legal team takes care of all the documentation for the full setup. We offer a wide range of corporate services tailored to fit your needs, including but not limited to company formation, legal and tax advisory, bank account opening consultation, virtual office and chartered accounting. There is availability for Norwegian shelf companies with active VAT registrations, we also support with branch office establishments. We can provide you with a turnkey solution.

The most time and cost efficient approach to register a company in Norway is to purchase a new shelf company, because the founding process can be a challenge to non-residents due to various requirements (e.g. share capital payment). In most cases, non-residents opt for a new tailor-made shelf company to avoid bureaucracy as we have already taken care of all requirements. However, we do assist with new incorporations on request. We will help you to choose the best approach according to your objectives. Norwegian company setup pricing from 1980 EUR, for more information contact us for consultation and a detailed price quote »

Company in Norway

Company Formation in Norway
Priced from 1980 euros
Remote setup in 5 to 10 days
VAT active companies available

Limited Liability Company in Norway

The Norwegian private limited company (Aksjeselskaper or AS) is the most common formof business as its shareholders have no personal proprietary liability for the company’s obligations. Our new limited liability shelf companies are registered in the Commercial Registry with an active registration number and no previous activity. All Norwegian shelf companies come with our 100% clean balance sheet guarantee and the full share capital payment of NOK 30.000 registered – hence there is no need to put up the share capital. Alternatively, we also support with new incorporations and branch office establishments for foreign corporate entities. We hold the official authorized accountant certificate to support with all corporate services. There are some restrictions on the number and the nationality of the board member(s) outside of the EU/EEA regions.

The Norwegian company setup can be carried out at our office in Oslo, or remotely with a Power Of Attorney (PoA) issued to us or by scheduling an appointment at one of our offices. We prepare the full package of legal documentation and submit all applications on your behalf – we only require the basic information from your side to fill and submit the documentation. We also support to obtain the necessary registrations (e.g. D-number/local ID code) from the state authority. After the Commercial Registry has processed all changes we forward the full legal documentation to you. It usually takes 5-10 business days for the registry to update their database to show the new shareholder(s), board member(s) and company information.

Step 1: Get in touch for consultation
Let us know of your target objectives and we propose the best solution for your consideration. Preliminary consultation and detailed price quotes are free of charge.

Step 2: We take care of everything
We collect the necessary information from you, prepare all documentation and forward for your confirmation. We offer full remote service.

Step 3: Start business in Norway
We take care of all applications and set up any corporate services needed. We notify you when the process if finalized and when your company in Norway is ready for business.

Corporate Services in Norway

We provide a full range of corporate services in Norway including legal and tax advisory, virtual offices, accounting and bank account opening support. Secretary and nominee services on request.

Our virtual office service is a flexible solution for companies who do not need a physical office in Norway. Our legal address in Oslo will be used for registering with the Commercial Registry and as the administrative address for the company to receive postage. The postage sent to your company will be forwarded to you by e-mail (scanned copy) or by regular mail on request. We can also set up individual local telephone and fax numbers as well as a local domain name with web hosting for your company.

Our accounting department can take care of all of your Norwegian company bookkeeping, as well as consult about financial and tax questions. The monthly cost of bookkeeping depends on the company profile, for example on the number of transactions and payroll calculations. We can also provide the VAT registration form and assistance with its completion. Financial statements have to be submitted annually while VAT returns and social tax declarations have to be submitted monthly. We hold the official certified accountant status in Norway.

We work with several banks (e.g. Danske Bank) to ensure the most time efficient opening of a business bank account for your company in Norway. To set up the bank account, a board member has to be present for a face to face meeting during the first application stage. The payment card and online banking security token are received in the second stage. Our team member can be appointed to receive these on your behalf and they will then be forwarded to you. Our compliance team will consult on choosing the best bank for your business and provide support through the account opening process.

It is also possible to open a fully functioning business bank account with an individual IBAN and with a VISA payment card for your company in Norway, remotely over the Internet. We have covered this option in our Knowledge Center: Online bank account with IBAN and payment card

D-number is a number which can be assigned to foreign people who do not have a Norwegian national ID number (fødselsnummer), but need it in order to identify themselves to Norwegian authorities. It is required for company setup and further government services. We hold the necessary state certification to apply for a D-number on your behalf remotely.

Taxation basics in Norway

Norway levies a flat rate of 22% corporate income tax on all worldwide income. The general VAT rate is 25% and the registration threshold for VAT in Norway is NOK 50.000.

Norway levies a flat rate of 22% corporate income tax on all worldwide income. The tax base is the sum of operating profit/loss, financial revenues and net capital gains minus tax depreciation. The CIT is paid in two instalments in the year after the income year.

Non-resident shareholders are generally subject to withholding tax at a rate of 25% on dividends in Norway, but the actual tax withholding may be reduced or there may be an exemption from withholding tax under an applicable income tax treaty. Corporate EU/EEA-based shareholders are generally fully exempt from withholding tax on dividends under the domestic participation exemption (although subject to a substance requirement and a comparability criterion).

Until recently, the Norwegian tax administration operated a simplified procedure where the shareholder and nominees could receive their dividends with a reduced or even no withholding tax, as long as the company paying the dividends had positive knowledge of the shareholder’s identity and tax status. Now, the rules have been tightened and all foreign shareholders must document their identity and tax status in order to receive a reduced (or zero) withholding tax.

Norway levies a 25% VAT rate on most goods and services. There is a 12% reduced rate on certain cultural/sporting activities and transport services; a 15% reduced rate on foodstuff and beverages as well as a 11.11% reduced rate on supply of raw fish. The registration threshold for VAT is NOK 50.000.

The employer’s contribution is differentiated regionally and ranges between 0% and 14.1% on gross earnings. There is also mandatory occupational pension, which is paid by the employer and the minimum rate is 2% of gross income. Norway has no defined minimum wage, but wages are based on collective agreements between employers and trade unions/workers.

If a company’s turnover in Norway exceeds NOK 6 million, the company will be subject to an audit obligation in the following financial year. Foreign companies that are obliged to keep accounts in accordance with the Norwegian Accounting Act are obliged to have a Norwegian public accountant (registered or state-authorised public accountant) – we hold the license.

Questions? Let us know!

Questions regarding company formation in Norway will be promptly answered by contacting us through the form below. Our legal team will respond shortly with more information to address your case.

Interested in starting a business in Norway? Our legal team will guide you through the process!

In the first step please let us know of your objectives for setting up a company in Norway. In the second step we propose the best solution with a step-by-step overview and a detailed price quote for company formation in Norway. In the third step we take care of all legal documentation and applications.