Companies in Norway are set up due to lower taxes. Another important reason is anonymity, as the names of the owners and directors are not publicly announced.
To open a company in Norway, a package of documents must be submitted to the registering authority, including the Charter of the company, information about the registered office or agent, information about directors, shareholders, information about the secretary and accountant of the company. An extract from the Norwegian Business Register is later added to the list. Documents must be submitted exclusively in Norwegian.
The registration process itself takes a period of two to three weeks. The first thing to do is place capital. Then you need to submit the result of the audit, which takes one day and costs approximately four thousand NOK. No later than three months after the signing of the memorandum, the company must be entered in the Norwegian Business Register. This process takes up to three days and costs NOK 6,000. One day is also occupied by tax registration, registration of medical insurance for employees, three days are spent on registration of pension contributions (this can be done in parallel with the two above actions). Electronic registration is possible, which is much simpler and registration takes from three to four days.
The main types of companies that are opened by foreign investors in Norwegian offshore zones are the opening of a branch of the company, the creation of a private limited company (AS) or a public limited company (ASA). Business partnerships are also common.
It should be mentioned that if the annual turnover of the company exceeds the amount of thirty thousand Norwegian kroner, then it must be re-registered with the tax authorities, and it is advisable to pass it at the location of the company.
