Norwegian Company Formation
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Norway offers a high quality of life as well as a wealthy, stable democracy. The available financial incentives and banking facilities also help to encourage foreign investment. The national business climate is favourable, although the taxation is high, and foreign investors can benefit from equality with domicile investors.
Universal Company Incorporations has breadth and depth of experience in Norwegian company formation and will support your business through every step of the process. Our team have a proactive approach and are dedicated to your core business, ensuring your Norwegian company increases productivity and business growth.
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Further Information
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There is a range of company forms in Norway, suitable for a range of business sizes and requirements. The three most popular forms of company to incorporate are:
- Private Limited Company (AS)
- Public Limited Company (ASA)
- Branch of a foreign company
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Previously strict foreign exchange controls in Norway have been reformed and the country now allows for the free repatriation of profits and dividends. Foreign and domicile investors are treated equally for the most part, although there are certain restrictions in place to protect Norway’s strategic interests. Formation and accounting regulations must be adhered to but are not overly complex.
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The banking facilities in Norway are advanced and investors will find all the facilities required for international business banking. Setting up a Norwegian bank account during the incorporation process is required, although the process is complicated and local advice is recommended.
Financial incentives in Norway are available but vary according to region and industrial sector. For example;
- there are reduced tax rates on the Arctic island of Spitzbergen
- employee taxes are lower for companies investing in the far north of Norway
- investment grants are provided by the state for areas of low employment
- certain sectors receive tax deductions for research costs
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Recruitment is more difficult in Norway due to high labour costs and low rates of unemployment. Some sectors are understaffed and bringing in foreign workers is highly regulated, with strict work permit applications. There are a number of recruitment specialists in Norway to help business employment however, and they will enable you to find the right employees for your company.
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