If you are looking for a new place to do business, look no further. Norway has a thriving business community and offers numerous opportunities for entrepreneurs. You can connect with us at Enterslice to avail of our business set-up services.
The benefits of doing business in Norway are as follows:
Ease of Doing Business
Pro-Business Climate
World-Class Infrastructure
Good Quality Industries
Fast Registration Process
Highly Skilled Workforce
Good Living Conditions
Vast Natural Resources
Free market.
Ownership Structure
Free Trade Zone
Less Corruption
Transportation Hub
Private LLCs or Private Limited Companies are known as “Aksjeselskap” in Norway. A Private LLC has limited liability and a separate legal entity. Usually, the board of directors takes the majority of business decisions in a Private LLC. A general manager is appointed to manage the affairs of a private LLC. A Private Limited Company is the most preferred business structure for small and medium businesses. The minimum share capital required is 30,000 NOK. At least 50% of the board members should be residents of Norway or in an EU/EEA country.
Public Limited Liability Companies are companies that have their securities listed on a public stock exchange. The principle of limited liability and separate legal entity applies to a public limited company. Major decisions of a public limited company are taken by the general manager, board of directors, and shareholders. The Board members of the company should apply for a Norwegian D Number or the personal identification number. Foreign companies can list their shares in regulated public exchanges. This business structure is preferred by large companies. It has a minimum share capital of 1 million NOK.
Generally, partnerships appoint a general manager to manage the affairs of the business. The liability of the partners can either be limited or unlimited.
A branch office is an entity formed by a non-resident Norwegian Company. A company that is formed outside Norway can set up its branch office in Norway. The branch office which is formed in Norway goes by another name “Utenlandsk Foretak”. These offices are formed to carry out specific forms of expansion projects.
These companies are usually incorporated in the Free Zones of Norway. An individual going through the process of company registration in Norway would utilize this form of an entity as there is a limited amount of VAT and duty-free subsidies provided by the government. Usually, these forms of companies would require to pay limited corporate tax at 16%.
Corporate Income Tax
Value-Added Tax
Custom Duties
Property Tax
Exit Tax
Carbon Dioxide Tax
Excise Tax
Natural Resource Tax
Net Wealth Tax
Financial Activities Tax
Hydropower Tax Regime
Shipping Tonnage Tax Regime
Petroleum Tax Regime
Enterslice is a market-leading management consultancy firm that offers end-to-end business set-up services, taxation, financial planning, regulatory, legal, and advisory services to entrepreneurs, young start-ups, and large corporate houses across the globe.
Our Norway Entry Strategy service involves the following services:
Our Norway Entry Strategy is classified into the following:
Business Structures in Norway such as Private LLCs, Public Limited Liability Companies, Partnerships with Unlimited Liability, Branch Office and Free Zone LLC. Our business set-up services include advisory related to the type of business structure you should opt for to set up business in Bangladesh. Our team will assist you in the business registration process, in opening a bank account for the business, and in post-registration compliance.
Our consultants formulate a strategic plan for establishing and operating the business depending on your business needs. We formulate a budget and develop cash flows for your business. We also review internal control processes and conduct business reviews. We provide advisory for issues related to the management of the business.
Our legal experts provide legal advice on business operations, finances, IP protection, etc. We also draft legal Documents for your business and review and compile the required Paper works. We also ensure that all legal and regulatory compliance are duly complied with.
Norway uses the International Standards of Accounting. Adherence to Norwegian accounting and auditing standards is of the utmost importance for companies operating in Norway. Following these rules guarantees financial reporting's reliability, openness, and accountability, all of which raise stakeholders' trust and confidence. At Enterslice we assist in financial statement preparation and analysis. We provide bookkeeping services and maintain financial records on behalf of companies. Our team members have expert accounting and audit knowledge and practical experience which will help your business meet its industry-specific accounting challenges and financial reporting requirement.
There are different types of taxes in Norway. Enterslice advises on all tax-related compliances. We also provide advisory on tax policies. We assist in the calculation and filing of taxes. Our tax experts create plans to reduce potential tax liabilities while assuring adherence to the changing tax laws. We offer tailor-made solutions suitable to your demands and advice on handling various tax disputes, if any.
Our IP Experts assist in IP Compliance. We assist in getting IP registration by filling out applications for registration and compiling relevant Documents. Our team of IP experts also advice on IP compliance and IP Protection. We also assist in enforcing IP rights against any infringement.
An Employer of Record (EOR) is an entity that legally employs workers on behalf of another business. An EOR is fully responsible for all aspects of employment, including compliance, payroll, taxes, and benefits. Our team can act as an EOR and help in onboarding the employees for our clients with the best part being that the clients shall have control on f the daily activities and responsibilities of their employees.
No general tax incentives are offered to domestic or foreign investors but there are exceptions for specific regions and industrial sectors such as:
a) Companies investing in Norway’s far north, pay lower employee taxes.
b) Minimal Tax Rates are applicable on the Arctic Island of Spitzbergen.
c) State Fund provides grants for investment in areas of low employment.
d) Tax deductions are permitted for research costs in key sectors like oil.
Yes, to some extent Norway is a high-tax country. It imposes high tax rates on individuals but companies are treated leniently. A flat rate of 25% is imposed on all capital income and in addition to this Norway provides a full dividend credit.
A limited liability company (LLC) can benefit from a low corporate income tax rate of 9% and an exemption from social security and unemployment insurance contributions. Larger businesses can benefit from a huge network of business-friendly businesses along with a highly supportive government economy.
Norway has a flat structure with little to no hierarchy. Employee’s input matters and often they are included in the decision-making process. Cooperation and team effort are highly valued in Norway.
The cost of doing business in Norway greatly depends upon the size of the business. In general, opening a small business can cost anywhere around $10,000 to $50,000 however, to open a large business the involved can be $100,000 and upwards.
The benefits of opting for Enterslice for your business set-up in Norway are as follows:
i. Professional Support
ii. 24*7 Customer Support
iii. Highly Integrated IT Team
iv. Competent Team of Lawyers, CAs, Cost Accountants, CSs, and CPAs.
v. All-inclusive solution for our clients.
24x7 Client relationship support desk.
Tech-enabled service delivery platform.
Dedicated foreign Investment desk.
50,000+ Network of Lawyers/Attorney’s/CPA/CA/CFA.
Strong team of Inhouse Lawyers/Attorney’s/CPA/CA/CFA
Individual and Dedicated professionals on every assignment.
We register 100+ Companies every Month.
If you have any queries related to the Process, feel free to contact us. We will provide
you with immediate help.
-- Testimonials
“Enterslice use technology better than others. That saves time and money; Team enterslice is more efficient than traditional competitors, and that helps to pass on the cost advantage to its clients. The company is building a high-level transparency in legal services by optimum use of technology and process automation in consulting. I highly recommend this company.”
“Excellent advisory role by Enterslice Team. They are a trusted partners to us. Narendra and his team helped us with our pre NBFC applications and Post NBFC advisory services.”
“Amazing services provided by your organization. They have completed our NBFC registration order within stipulated time period of 90 days. They provide constant guidance and support in the process. Their support in building fintech software is amazing.”
“I chose Enterslice to start my new Indian adventure as entrepreneur, and respect my past experience i was surprised by their professionalism. In particular, Raksha T. followed my startup process, and i was delighted with her support on every moment. Great, great experience.”
“I came to know about Enterslice through a friend. Since then I have done GST Registration through them. The services are consumer centric and fast. I have recommended them to many of my acquaintance already.”
“Great set of people working together. Very customer friendly. I am very satisfied with the food license registration services and will definitely come back for other similar requirements.”
“They provided customized and Highly skilled CA &services. The management invests themselves in your work. They ensured timely NBFC registration and are always ready and prepared with excellent advisory services. The best part of working with Enterslice is they are not having expertise of law but they are well versed with Digital marketing skills &fintech business model.”
“I have registered my Trademark through them. The application was filed within 3 days. And the charges were also very reasonable. We got TM Approved in 6 month’s time without any re-submission or objection. They charge high to deliver the best in industry.”
“I would like to thank the Enterslice team for the excellent business plan made by them. They understood our requirement and gave us exactly what we wanted. Thank you Team Enterslice.”
“Thanks for your services. The team is really professional. They make sure that things are delivered in time. The best part about Enterslice is the consultative approach and guiding us on all our business matters.”
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