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Company Registration in Norway
Norway is one of the most attractive countries in Europe for international business expansion and foreign investment. Although Norway is not a member of the European Union, it participates in the European Economic Area (EEA), allowing businesses to benefit from close economic ties with the EU market.
The most common business structure for foreign entrepreneurs is the Norwegian AS (Aksjeselskap), a private limited liability company. This structure is commonly used by international entrepreneurs looking to establish a business presence in Norway.
Norway is known for its stable economy, transparent legal system, and strong business environment. CompyCo coordinates company registration in Norway together with banking, accounting, tax, and compliance solutions through a network of licensed professionals and trusted partners.
Forms Of Companies In Norway
- AS “Aksjeselskap”—Private Limited Liability Company
- NUF “Norskregistrert utenlandsk foretak”—Norwegian branch
- A.S.A “Allmennaksjeselskap”—Norwegian joint stock company
- ANS/DA “Ansvarlig selskap”/ “Selskap med delt ansvar”—Partnership
- ENK “Enkeltpersonforetak”—Sole proprietorship
What is the difference between AS and ASA companies in Norway?
An AS (Aksjeselskap) is the most common company structure used by foreign entrepreneurs registering a company in Norway. It is suitable for trading, consulting, technology, e-commerce, and other international business activities. An AS requires a minimum share capital of NOK 30,000 and provides limited liability protection to its shareholders.
At least half of the board members of a Norwegian AS must generally be residents of Norway, another EEA state, the United Kingdom, or Switzerland. Where this requirement is not met, an exemption may be required from the Norwegian authorities.
An ASA (Allmennaksjeselskap) is a public limited company generally used by larger businesses seeking public investment or stock exchange listing. Unlike an AS, an ASA requires a minimum share capital of NOK 1,000,000 and is therefore not commonly used by small and medium-sized foreign-owned businesses entering the Norwegian market.
NUF (Norskregistrert utenlandsk foretak) is a Norwegian branch of a foreign company. This structure may be suitable where an existing foreign company wishes to establish a presence in Norway without incorporating a separate Norwegian limited company. Tax, accounting, and permanent establishment implications should be reviewed carefully before choosing this structure.
Fundamentals Of A Limited Liability Company in Norway
Corporate Tax in Norway | VAT in Norway |
|---|---|
22% | 25% |
| Limited liability company | AS |
| Minimum Share capital | 30 000 NOK (approx. 2800 EUR) |
| Registered office required | Yes |
| Physical office required | No |
| Min. number of Shareholders | 1 |
| Min. number of Directors | 1 |
Board residency required | At least 50% of the board must generally be resident in Norway, another EEA state, the UK, or Switzerland |
| Other requirements | No |
| Bank signatory must travel | Yes |
| Timescale for company formation | 4 weeks |
| Timescale for bank account opening | 1 month |
| Timescale for obtaining VAT number | 2 weeks min |
| Statutory audit requirements | Not always required – exemptions available for many small companies |
| Shelf companies available | Yes |
How can I set up my company in Norway?
Registering a company in Norway is a straightforward process when the correct company structure, residency requirements, and documentation are prepared in advance. Non-residents most commonly establish an AS (Aksjeselskap), which is the standard Norwegian private limited company.
Step 1 – Choose the Company Structure
Most foreign entrepreneurs choose an AS (Aksjeselskap). Alternative structures such as ASA (public limited company) and NUF (Norwegian branch of a foreign company) may be suitable in specific circumstances.
Step 2 – Prepare Company Documentation
The company name, shareholders, directors, registered office address, and incorporation documents must be prepared before registration can begin. At the same time application for personal D-number for non-resident directors – board members must be prepared and submitted together.
Step 3 – Deposit Share Capital
A Norwegian AS requires a minimum share capital of NOK 30,000. The capital must generally be deposited before the company can be registered.
Step 4 – Register the Company
The company is registered with the Norwegian Register of Business Enterprises. Once approved, the company receives its organisation number and can commence business activities.
Step 5 – Banking, UBO and Tax Registrations
Following incorporation, businesses may need to complete beneficial owner (UBO) registration, VAT registration where applicable, accounting setup, payroll registration, and business banking arrangements depending on the nature of the activity.
Step 6 – Ongoing Compliance
Norwegian companies must maintain accounting records, submit annual filings, and comply with Norwegian corporate and tax regulations.
Alternative Option – Purchase a Shelf Company
Entrepreneurs who require a faster solution may consider purchasing a Norwegian shelf company from licensed local professionals. CompyCo coordinates shelf company acquisitions through trusted Norwegian partners, helping clients obtain an existing company that has already been incorporated.
Non-Resident Company Registration in Norway
Shelf Companies and EEA Board Requirements
For many non-resident entrepreneurs, purchasing a Norwegian shelf company is often the fastest and most practical way to register a company in Norway. Because the company has already been incorporated, there is no need to complete lengthy bank onboarding procedures before incorporation in order to deposit share capital. This can significantly reduce the time required to establish a business presence in Norway.
Norwegian companies must generally have at least half of the board members resident within the EEA. Where required, CompyCo can coordinate licensed local legal professionals to fulfil these EEA board requirements until a permanent solution is established.
Non-resident directors must obtain a Norwegian D-number for identification purposes. In many cases, the D-number application can be submitted together with the company registration documentation or share transfer documents in case of shelf company purchase.
Once the share transfer documentation has been submitted to the Norwegian Register of Business Enterprises, the company can generally begin operating immediately while the ownership changes are being processed. This allows entrepreneurs to start trading much sooner compared to a standard company registration process, where incorporation is often delayed by pre-incorporation banking requirements and share capital procedures.
For many international entrepreneurs, a Norwegian shelf company combined with the appropriate EEA board structure provides one of the quickest and most efficient routes to establish and operate a company in Norway.
Banking for Norwegian Companies
Opening a bank account is often one of the most important considerations when registering a company in Norway. However, many non-resident entrepreneurs are surprised to learn that a Norwegian company is not required to hold a bank account in Norway. Depending on the company’s activities and operational needs, it may be possible to use a business account provided by a regulated Electronic Money Institution (EMI) within the EEA.
What is important is ensuring that the chosen banking solution supports the company’s day-to-day operations, including the ability to hold and make payments in Norwegian Krone (NOK). This is particularly relevant for businesses that need to pay taxes, VAT, payroll, or other obligations to Norwegian authorities.
For non-resident owners, obtaining a traditional Norwegian bank account can be challenging. In practice, most high-street Norwegian banks are unlikely to open an account for a Norwegian company without a Norwegian resident actively involved in the company structure. Even where an application is accepted, onboarding procedures can be lengthy and may involve extensive compliance reviews, documentation requests, and in-person verification requirements.
Over the years, CompyCo has advised numerous international entrepreneurs on suitable banking options for Norwegian companies. Based on the company’s ownership structure, countries involved, business activities, and expected transaction profile, we help clients evaluate the available solutions and identify banking providers that may be appropriate for their circumstances.
As a result, many non-resident entrepreneurs are able to secure a suitable business banking solution without relying on a traditional Norwegian bank, allowing them to operate their Norwegian company efficiently while remaining fully compliant with local requirements.
Learn more about opening a bank account here and why banks reject clients.
Accounting and Taxation in Norway
Norwegian companies are required to maintain proper accounting records and comply with ongoing reporting obligations. Depending on the nature of the business, additional requirements may apply.
Key accounting and tax obligations in Norway include:
- Corporate income tax: 22%
- Standard VAT rate: 25%
- VAT registration required once the applicable threshold is reached
- Annual financial statements and corporate tax returns
- Ongoing bookkeeping and accounting records
- Payroll reporting and employer obligations (where employees are hired)
- Beneficial owner and company information kept up to date with the relevant authorities
For non-resident entrepreneurs, understanding Norwegian accounting, VAT, payroll, and tax compliance requirements can be challenging. CompyCo coordinates licensed local accounting professionals who can advise on bookkeeping, annual reporting, VAT compliance, payroll administration, and ongoing corporate obligations.
Whether you operate through a newly registered company or a Norwegian shelf company, maintaining proper accounting records and meeting tax deadlines is essential to keep the company in good standing and avoid unnecessary penalties.
How can you employ staff in Norway?
Norway operates under employment regulations aligned with the European Economic Area (EEA) framework and Norwegian labour legislation. If you plan to hire employees through your Norwegian company, it is important to ensure that all employment, payroll, and reporting obligations are met from the outset.
Employers should be aware that written employment contracts are mandatory, occupational injury insurance must be maintained, mandatory occupational pension requirements may apply, and applicable working time and employment regulations must be followed. These obligations can be complex for foreign business owners unfamiliar with Norwegian employment rules.
Norway offers access to a highly skilled and well-educated workforce across a wide range of industries. CompyCo coordinates licensed local professionals who can advise on payroll administration, employment compliance, employee onboarding, HR matters, and ongoing employer obligations.
For companies expanding into Norway, it may not always be necessary to establish a Norwegian company before hiring staff. In certain situations, a foreign company may be able to register as a non-resident employer and employ staff directly in Norway. The suitability of this approach depends on the specific business activity, number of employees, and long-term plans in the country.
Whether you hire through a Norwegian company or as a registered non-resident employer, ensuring compliance with Norwegian employment, payroll, pension, and reporting requirements is essential to avoid penalties and maintain good standing with the authorities.
Have any questions? Take a look at our HR services page for more information about our International HR services!
Why Choose Norway for Business?
Norway is one of Europe’s most stable and transparent business environments. Known for its strong economy, highly skilled workforce, and predictable legal framework, Norway offers attractive opportunities for entrepreneurs and international companies looking to establish a presence in the Nordic region.
Some of the main advantages of doing business in Norway include:
• Access to one of the world’s strongest and most stable economies
• Strategic location with easy access to Nordic and European markets
• Highly educated, English-speaking workforce
• Strong legal system and high levels of transparency
• Advanced digital infrastructure and efficient public administration
• Competitive industries including technology, energy, maritime, aquaculture, and engineering
• Business-friendly environment with straightforward company administration
• Stable banking and financial sector
• Strong reputation for innovation, sustainability, and corporate governance
Norway is particularly attractive for technology companies, consulting firms, engineering businesses, renewable energy projects, maritime companies, e-commerce businesses, and international entrepreneurs seeking access to the Nordic market.
If you are considering expanding into Northern Europe, Norway can provide a stable foundation for long-term business growth while offering access to highly qualified talent and a well-developed business ecosystem.
Frequently Asked Questions About Company Registration in Norway
Yes. Non-residents can register a company in Norway, although additional compliance and identification requirements may apply depending on the company structure and banking solution selected. D-number for board members -directors must be obtained in the process.
The minimum share capital required for a Norwegian AS (private limited company) is NOK 30,000. For newly incorporated companies, the share capital must normally be deposited before registration can be completed. This requirement does not apply when purchasing an existing shelf company, as the company has already been incorporated.
In many cases, yes. Non-residents can often complete the company registration process remotely through a power of attorney and electronic documentation. However, if you require a traditional Norwegian bank account, it is common for the director or beneficial owner to attend an in-person identification meeting as part of the bank’s compliance procedures. The exact requirements depend on the bank and the company’s ownership structure.
The timeframe for company registration in Norway depends on the company structure, documentation, and banking arrangements. A standard company registration typically takes between 2 and 6 weeks, while the purchase of a Norwegian shelf company can often provide a faster route to commencing business activities.
Not necessarily. A Norwegian company is not required to hold a bank account in Norway and may be able to use a business account provided by a regulated Electronic Money Institution (EMI) within the EEA. However, it is important that the chosen banking solution supports the company’s operational needs, including payments in Norwegian Krone (NOK) where required.
Yes. Non-residents can act as directors of a Norwegian company. However, at least half of the board members must generally be resident within Norway, another EEA country, the United Kingdom, or Switzerland. Non-resident directors may also need to obtain a Norwegian D-number for identification purposes when dealing with Norwegian authorities.
Not necessarily. Norwegian companies do not generally require a Norwegian resident director. However, at least half of the board members must generally be resident within Norway, another EEA country, the United Kingdom, or Switzerland. Where this requirement cannot be met, alternative compliance solutions may be available depending on the circumstances.
The standard corporate income tax rate in Norway is 22%. Companies may also be required to register for VAT once the applicable threshold has been reached. The standard Norwegian VAT rate is 25%, although reduced rates apply to certain goods and services.
Yes. CompyCo can coordinate the purchase of Norwegian shelf companies through verified and licensed local professionals. A shelf company has already been incorporated and its share capital has already been deposited, allowing entrepreneurs to avoid the pre-incorporation banking procedures typically required for a new company registration. For many non-resident founders, this can provide a faster route to commencing business activities in Norway.
A newly registered company must complete the incorporation process from the beginning, including preparing the formation documents and depositing the required share capital before registration can be completed. A shelf company has already been incorporated and is ready for transfer to a new owner. For many entrepreneurs, this can provide a faster route to commencing business activities in Norway.
Yes. All Norwegian companies must have a registered office address in Norway. This address is recorded with the Norwegian Register of Business Enterprises and is used for official correspondence and regulatory purposes. A physical office is not always required, depending on the nature of the business.
CompyCo coordinates company registration projects in Norway through verified and licensed local professionals. Depending on the client’s requirements, this may include new company registration, shelf company acquisition, registered office solutions, EEA board compliance, accounting services, and guidance on suitable banking options.
By working with an established network of local specialists, clients can often save significant time and avoid costly mistakes associated with navigating Norwegian company formation, compliance, and banking requirements independently. This allows entrepreneurs to focus on developing their business while ensuring that the incorporation process is handled efficiently and in accordance with local regulations.
Check out these jurisdictions for company registration services: Company registration in Sweden, Estonia, The Netherlands, Finalnd, Poland.
However, if you are choosing between a few countries in Europe and you are not sure where to incorporate, have a look at our tips how to make the right choice, or talk to us today for free.
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