Setting up a Business in Norway

Overview by

Legal Forms of Companies

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Limited Company (Aksjeselskap, AS)
NOK 100000
No minimum.
Liability is limited to the amount contributed.
About NOK 5,000
Public Limited Company (Allmenne aksjeselskap, ASA)
NOK 1 million
No minimum.
Liability is limited to the amount contributed.
About NOK 5,000
General Partnership w. shared liability (Ansvarslig selskap med delt ansvar, DA)
No minimum capital.
No minimum.
Unlimited, but each owner is responsible for debt corresponding to his/her share of the ownership
About NOK 2,000
General partnership (Ansvarslig selskap, ANS)
No minimum capital.
No minimum.
Liability is unlimited.
About NOK 2,000
Sole proprietorship (Enkeltmannsforetak)
No minimum capital.
Only 1 person.
Liability is unlimited.
About NOK 2,000

Business Setup Procedures

Administrative Formalities
New businesses must register with the tax and customs authorities and with the Central Coordinating Register for Legal Entities (CCRLE - Enhetsregisteret) at the Brønnøysund Register Centre. Make sure that the business name is not already registered in Norway. More information about the registration process can be found here.
The Competent Organization
Brønnøysund Register Centre maintains open annual accounts on all Norwegian companies.
Time Necessary for Registration
Commercial registration of a limited company may take up to four weeks.

Recovery Procedures

The Bankruptcy Act and the Creditors Recovery Act are the main Norwegian insolvency laws. If the equity of a company is less than 50 % of registered share capital or otherwise seems to be less than what is required, the Board of Directors is required to take action.

Bankruptcy proceedings may be initiated if applied by the debtor or an unsecured creditor. The applicant must show that the debtor is insolvent (unable to pay debts as they fall due) and insufficient (debtors’ liabilities exceed his assets). In bankruptcy proceedings all the debtor’s assets to which the creditors have access are confiscated and liquidated for distribution among the creditors. The debtor loses control of these assets from the time of application for bankruptcy. The bankruptcy is publicized and registered in public registries.

Minimum Debt-to-Capital Ratio Triggering Liquidation
Bankruptcy Laws
The Bankruptcy Act and Norwegian Creditors Recovery act.
Reorganization and Rehabilitation Laws
Debt reorganisation proceedings may only be initiated with the consent of the debtor. The debtor must be able to demonstrate that he is insolvent but not likely to obtain a composition with his creditors. If an application for debt reorganization proceedings is granted, it will generally stay a bankruptcy application for a period of three months, if it's not supported by at least three unsecured creditors, who also represent at least 40 % of the claims.

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