When looking for a jurisdiction in which to incorporate, the first thing to look at is the legal code. The body of law in Norway is civil law (scandinavian) law. You will want to get some local advice as to how to best structure a company in Norway. Electronic signatures are permitted.
The abbreviation NO is for Norway and the most common company type in Norway is a LLC.
The amount you'll have to wait is about 7-8 Days to setup a LLC in NO. The types of currencies you can use to fund your business is often NOK, USD, EUR, and any legal currency.
Yes, one is allowed to re-domicile a LLC from NO. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in NO by yourself. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is encouraged, up to 100% of the ownership of the LLC.
There is a requirement to have at least 2 directors. Speaking of shareholders, corporate directors are not permitted. Directors should not expect to be private, as they are disclosed. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered office is a requirement, whom the company will pay yearly, for an office which can receive any lawsuit papers on behalf of the business. Furthermore, a company secretary is a requirement.
There is a not a requirement to file annual returns. This won't preclude the legal entity or the individual shareholder from other tax or financial obligations elsewhere and you are encouraged to seek personal advice on their unique situation. On that note, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Norway Civil law (Scandinavian) is 30,000.
A corporate director is not permitted, meaning this country is not a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Norway, The Brønnøysund Register Centre. Shareholders are disclosed in the The Brønnøysund Register Centre.
Typically companies take 7-8 days to setup and there are 2 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Norway is a good option and have given it a score of 74 as an IO score, using the Incorporations.IO proprietary formula.
7-8 Daysto form