Norway

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DOING BUSINESS

 


Local business incentives - Legal forms of companies - Registration and licensing procedures - Legal framework - Foreign exchange control - Regulations concerning equity investment - FDI inflows - Expertise of the political risk

Local business incentives

Foreign investments do not benefit from particular conditions. On the other hand, Norway is divided into 5 areas, and some of them grant tax deductions. To find out about the nature and details of these advantages, companies can contact the Innovation Norway.

 

Legal forms of companies

Form Number of partners/shareholders Minimum and/or maximum capital Liability Registration fee Release of financial documents
Aksjeselkap (AS) is similar to a Private Limited Company No minimum. NOK 100,000 Liability is limited to the amount contributed. About NOK 4,545 No
Allmennaksjeloven (ASA) is similar to Public Limited Company No minimum. NOK 1 million Liability is limited to the amount contributed. About NOK 2,000 Yes, if it is quoted on the stock exchange.
Kommandittselskap (K/S) is a limited partnership. No minimum. No minimum capital. Liability is unlimited for some partners and limited for others. About NOK 2,000 Yes, if it is quoted on the stock exchange.
Ansvarling selskap (ANS) is a general partnership. No minimum. No minimum capital. Liability is unlimited. About NOK 2,000 Yes, if it is quoted on the stock exchange.
Selvstendig naeringsdrivende firma is a sole proprietorship. Only 1 person. No minimum capital. Liability is unlimited. About NOK 2,000 No

Registration and licensing procedures
New businesses must register with the Register of companies in Bronnoysund.

Legal framework
Norway is very open to foreign investment although there are no fiscal incentives to attract foreign investments. The economic activity's regulation in Norway has been adapted to the EU's since January 1994. The legislation does not contain discriminatory dispositions between EU's companies and national companies wishing to start a business in Norway.
The Norwegian Industrial and Regional Development Fund (SND) has been active since January 1st of 1993 and its mission is to promote socio-economic development through different funding modes.

Foreign exchange control
Free conversion of the Norwegian krone is carried out. In other words, it can be freely bought and sold by residents and foreigners with no exchanges limitation.
As for profits and capital repatriation, the investors are not subject to any limitation. However, the Bank of Norway (Norges Bank) needs to be notified.

Regulations concerning equity investment
A majority holding interest in the capital of a Norwegian company is legal, except in certain sectors: air and sea transports.  


Foreign Direct Investment inflows in Norway

FDI inflows 2003 2004 2005 World rank (*)
2005
FDI inflows (USD million) 3484 2 473 3 413 105/141
Source : UNCTAD - World Investment Report
Note : (*) World Rank = UNCTAD Inward FDI Performance Index. It is a measure of the extend to which a host country receives inward FDI relative to its economic size. It is calculated as a ratio of the country's share in global FDI inflows to its share in global GDP.

 

Last modified in 2006 - ongoing update
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