Setting up a company in Norway starts from €1000 + VAT.
What do you need to know before setting up a ocmpany in Norway?
In order to ensure a smooth incorporation process in Norway, it is important to contact professionals for assistance with the various mandatory procedures. Fortunately, it is also possible to set up a new company in Norway remotely. However, you may need to visit the country once to complete the bureaucratic formalities. This is necessary in order to register you as a natural person and obtain a special code from the local register.
A registration address is of course required in Norway. However, it is sufficient to tick the box. However, if the company wishes to provide services "in person" (licensed professionals), a physical place of business may be required.
Why start a business in Norway?
Starting a business in Norway can be a great option if you are looking for new investment opportunities. It would be hard to find a more business-friendly environment: Norway is one of the world’s richest countries, renowned for its large oil exports and extremely high standard of living, and an active and modern society with the lowest unemployment rate in Europe at just 3%.
The national economy is a clear example of wealthy capitalism, where the free market and minimal state control go hand in hand. Such control applies to the oil sector in Norway, as well as subsidised agriculture and fisheries. In addition to oil and gas production, shipbuilding and shipping account for the largest share of Norway’s gross domestic product. The industrial sector is private, with the exception of railways, postal services, power plants and some large Norwegian companies such as Statoil.
Other important sectors of the Norwegian economy are forestry, pharmaceuticals, wood and paper, and mining and quarrying. Since ancient times, Norway has been famous for its abundant fisheries: 90% of the fish caught is exported, and Norway ranks first in the world for salmon sales.
The most common form of company in Norway is an AS (Aksjeselskap - the Estonian equivalent of OÜ).
In order to ensure a smooth incorporation process in Norway, it is important to contact professionals for assistance with the various mandatory procedures. Fortunately, it is also possible to set up a new company in Norway remotely. However, you may need to visit the country once to complete the bureaucratic formalities. This is necessary in order to register you as a natural person and obtain a special code from the local register.
How is a company set up in Norway?
Registering a company in Norway is more convenient than ever – once selected, we offer our services to clients remotely, with professionals sending all the documents. The registration itself usually takes 5-7 weeks.
The prospective entrepreneur will receive a questionnaire and a list of documents to fill in. We will liaise with the notary and, if necessary, ask you for further details.
When founding an Aksjeselskap you have to pay a share capital of 30000 NOK (about 3000€).
Setting up a company in Norway involves several types of taxes:
14
In Oslo, the income tax is around 14% and the tax for employees is calculated according to the TABEL card, which gives a pre-calculated indication of how much a person plans to earn.
25
Norway’s standard VAT rate is 25%, with a reduced rate of 15% for food, 12% for transport and 11.1% for the supply of raw fish.
25
Dividend tax in Norway is 25%
Advantages:
Setting up a new business in Norway is a great opportunity for new investment. The Scandinavian approach to work, the attitude of the people and the growing economy are just some of the reasons why foreign investors choose this country. Although Norway is not a member of the EU, its market is intertwined with many European countries. A simple regulatory framework for new entrepreneurs has time and again been successful in attracting large numbers of foreign investors.