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flag Norway Norway: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Limited Company (Aksjeselskap, AS)
Number of partners: One or more with no maximum.
Capital (max/min): NOK 30,000
Shareholders and liability: Liability is limited to the amount contributed.
Public Limited Company (Allmenne aksjeselskap, ASA)
Number of partners: One or more with no maximum.
Capital (max/min): NOK 1 million
Shareholders and liability: Liability is limited to the amount contributed.
General Partnership w. shared liability (Ansvarslig selskap med delt ansvar, DA)
Number of partners: Two or more with no maximum.
Capital (max/min): No minimum capital.
Shareholders and liability: Unlimited, but each owner is responsible for debt corresponding to his/her share of the ownership
General partnership (Ansvarslig selskap, ANS)
Number of partners: Two or more with no maximum.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited.
Sole proprietorship (Enkeltmannsforetak)
Number of partners: Only 1 person.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited.
The Competent Organization
Brønnøysund Register Centre maintains open annual accounts on all Norwegian companies.
Search a Company or a Financial Report
Brønnøysund, Register Centre
Register Authority
 
Setting Up a Company Norway OECD
Procedures (number) 5.0 5.0
Time (days) 7.0 12.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Norway.
Trade Register

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The Active Population in Figures

201120122013
Labor force 2,629,0002,645,0002,707,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -66.90%65.90%
Men activity rate 71.00%70.20%70.10%
Women activity rate 63.00%61.50%61.70%

Source: UN - United Nations

 
Employed Persons, by Occupation (% of Total Labor Force) 2008
Health and Social Work 19.9%
Real Estate, Renting and Business Activities 11.5%
Manufacturing 11.3%
Education 8.7%
Construction 7.3%
Transport and Storage 6.2%
Hotels and Restaurants 2.7%
Agriculture, Hunting and Forestry 2.2%
Mining and Quarrying 1.7%
Electricity, Gas and Water Supply 0.7%

Source: International Labor Organization (ILO)

 
For Further Statistics
Statistics Norway
For Further Information About the Labor Market
International Labor Organization

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Working Conditions

Legal Weekly Duration
35,5 hours for shift workers and 37,5 hours for others. This includes a half an hour lunch break.
Retirement Age
Official retirement age is 67, but early retirement is allowed at 62. Employees have the right to continue working until the age of 70. 
Working Contracts
Legal clauses regulate employment contracts and to a lesser degree collective agreements and individual negotiations. The terms of employment contracts are rather rigid.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
No minimum wage exists.
Average Wage
Gross average monthly wage of men: NOK 40,800 (source: ILO, 2011);
Gross average monthly wage of women: NOK 34,800 (source: ILO, 2011).
Social contributions
Social Security Contributions Paid By Employers: Varies regionally, between 0 and 14,1 %.
Social Security Contributions Paid By Employees: 7,8 %.

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Social Partners

Social Dialogue and Involvement of Social Partners
Norway has strong traditions in collective bargaining and trade unions hold a prominent position. Strong emphasis is placed on central organizations of employers and employees. Compulsory collective agreements supplement legislation in wages, working conditions and benefits. Results of central wage negotiations between the large employee's and employer's organizations serve as guidelines for the local wage negotiations.
Unions
The Norwegian Confederation of Trade Unions (LO)
Confederation of Unions for Professionals
Federation of Norwegian Professional Associations
Unionization Rate
60 %.
Labor Regulation Bodies
Ministry of Labor and Social Inclusion

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Last Updates: October 2014