Do you want to start a business in Norway? We will guide you through the most important steps on how to start your business and the rules you have to follow.
Norway has one of the strongest economies in the world. When it comes to education, development, innovation, technology and sustainability Norway is also a leading country. This makes Norway a very suitable place to establish a company and do business.
I am not a Norwegian citizen, can I start a company in Norway?
You do not need to be a Norwegian citizen or resident as anyone, in theory, can set up a business to sell services or goods in Norway.
If you want to start a business in Norway you must comply with the same laws and regulations as Norwegian enterprises do. To get started you need a Norwegian company address with a postal address, post number and city – a post box does not meet the requirements
Should I start an enkeltpersonforetak (ENK) or an aksjeselskap (AS)?
“Aksjeselskap” (often called AS) is the most common type of company in Norway. AS are privately owned limited liability companies, which means the individual shareholders have no personal liability for the company’s obligations to creditors.
If you want to start an aksjeselskap (AS), it is required that more than half of the board of directors are Norwegian or EEA citizens.
When starting an AS you need a share capital of at least 30 000 NOK, which can be used to for investments or payments in the start-up phase but is also a safety for the company’s creditors. This means that the company is responsible, and you cannot loose more than what value is in the company.
You can hire yourself in an AS, which gives you the same rights to holiday pay, sick pay and so on as any other employee
An “enkeltpersonforetak” (often called ENK) is the second most common type of company in Norway. When starting an ENK you do not need any capital, as the company is privately owned. This means that you have personal liability for the company’s obligations to creditors.
A typical ENK business is run by one person with little or no expenses, and often no employees. For example, a photographer or a writer. This company form is a great choice if you do not have a lot of value in the form of supply and goods as the company is privately owned.
Therefore, it is in many cases recommended to start an AS as it gives you more security in the company and is a more suited business form if you want to make money.
Where do I start a Norwegian business?
In Norway, you can register your company through Altinn or on a company registration site. All the required documents have to be filled out in Norwegian, so if you use a company registration site you will save time as you only send in the most important information and the rest of the documents will be filled out for you.
With Starte-as.no you can register your AS for free. Send in the relevant information, and we fill out all the necessary forms. All you pay is the registration fee at Brønnøysundsregisteret. NB! The form is only available in Norwegian, we recommend you use a translator to fill out the form.
Start your free enkeltpersonforetak on enkeltpersonforetak.no. Send in the relevant information, and we fill out all the necessary forms. NB! The forms are only available in Norwegian.
I have registered a company, what should I do next?
When your company is legally registered you can start operating your business. In Norway, all businesses need to document their income and costs. As long as you earn more than NOK 50 000 a year, you have to do your bookkeeping in an accounting system. Therefore, you should look for a good accounting software and maybe an accountant if you want some help.
Conta provides a simple accounting software that you can use all by yourself. The registration is in Norwegian, but the software can be used in English. Start a free trial.
If you have started a business in Norway, you should also familiarize yourself with all the deadlines that you have to follow. If you have an accountant, they will help you by hand in the right documentation and payments within the deadline. However, having some knowledge about the deadlines yourself will help you understand the way of running a company in Norway.
Learn the basics of accounting with Conta:
Are you considering launching a business in a location outside of Norway? Conta operates in numerous countries worldwide. Explore our international pages to discover more about our invoicing software.
