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How do I start my limited liability company in Norway?

Ah, what a lovely country Norway is. The natural wonders are even more beautiful than anything you can imagine. There is the midnight sun, the morning lights, and the tranquil national parks. In addition to being an absolutely splendid place, it’s a great place to do business. Coming in at number four in the world, Norway provides all the necessary conditions for starting, operating, and expanding a company. There are opportunities everywhere; you just have to take advantage of them. If you’re thinking about bringing a project into existence, your first thought is inevitably what legal form your business should take. Foreign investors in Norway organize their enterprises as limited liability companies. Keep on reading for further details.

 

The Norwegian Limited Liability Company

The limited liability company is referred to as Aksjeselskap. The Aksjeselskap (or AS) is basically a stock-based company where the owners aren’t personally responsible for the organization’s potential debts beyond the stock capital. The AS is by far the most common type of commercial company in Norway. If you’ve decided to opprette aksjeselskap, congratulations. You couldn’t have made a better decision. Not only are you not personally liable for the organization’s obligations, but also you can own shares in other companies. A limited liability company is an adequate choice for a small business with high risks.

Conditions for starting a limited liability company in Norway

The Norwegian Public Limited Liability Companies Act controls the formation of limited liability companies. If you’re quite sure that opprette firma is what you want to do, then you must make sure to meet the requirements of legal authenticity. These are the conditions for getting a business off the ground:

  • The AS can be formed by one or two shareholders. Legal entities, as well as individuals, are allowed to be founders.
  • It’s of paramount importance to be of 18 years old so as to undertake a role in an Aksjeselskap.
  • The limited liability company needs to have a Norwegian address. Contact information should include street or road number, property number, postcode, and, finally yet importantly, the postal town.

In order to open a limited liability company, see to the following things:

  • Find a good name for the enterprise: As you can imagine, a good business name will help you stand out from in the crowded corporate world. The law says that the company name must contain at least three letters. Check with the Register of Business Enterprises to see if the name you want to use isn’t already taken.
  • Set up a share capital account: You must open a bank account and deposit approximately 30000 Norwegian Krone. After receiving confirmation and getting your receipt, have an auditor examine the company. Keep in mind that starting an AS isn’t the same thing as starte DA.
  • File the list of paperwork: Don’t waste time and submit the Memorandum of Association and Articles of Association. If you need help with the paperwork, then get help. There are plenty of services that you can resort to when it comes to preparing the necessary documents.
  • Request VAT and purchase injury insurance.