Setting up a business in Norway is one of the smart move for entrepreneurs looking for a transparent, highly stable and inventive driven economy. The country provides simple process, a digital-first government, and admittance to the European market.

Whether you are a local person or a foreigner, Norway business registry is a straightforward process only when you properly understand all the steps involved.

Reasons to start a business in Norway

Norway constantly ranks high because of ease in doing business and economic freedom. It has a sturdy infrastructure, a high-skilled workforce and a properly regulated environment. The Norway government backs entrepreneurship and digital registration which makes the whole set-up process rapid and effective.

Type of business in Norway

Before going for Norway company register, you should decide about the type of business. Some of the most common business structures are:

•    Sole proprietorship: Best for freelancers or small one-person operations
•    As- Private Limited company: This is for the foreign companies who are looking for establishment of a branch in Norway
•    Norwegian Registered foreign company: It is for those foreign companies who are seeking to establish a branch in Norway.

Different steps for Norway company registration

•    Choose a business name: Ensure the business name you select is unique and is in compliance with the laws of naming. You can check the availability of the name through Bronnoysund Register Centre.

•    Draft legal documents: You are required to make the memorandum of association, association articles, and make deposit of minimum share capital.
•    Register: All businesses must do registration through the Brønnøysund Register Centre via Altinn. no. It is an online platform that guides you through every step. Post submission, you will get an organization number, same as company ID.
•    Register for Tax and VAT: When your revenue is more than NOK 50000 yearly, you should register for VAT. Also, do registration for employer taxes when you are planning to hire employees.

Conclusion

Company registration Norway is effective, mainly with digital systems in place. By selecting the proper structure and following all legal steps, you can develop a sturdy foundation for your businesses in one of the most stable economies of Europe.