Norway Company Formation |
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Norway is one of the world's wealthiest, most stable countries, boasting one of the highest standards of living in the world. The following information will help you determine whether Norway company formation is the optimum corporate structure to fulfill your regional and international business objectives: |
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Advantages of Norway company registration |
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| 1. | If properly structured, a Norwegian company pays no tax on share dividends received from another Norwegian company. However, share dividends from foreign companies are subject to the standard income tax rate of 28%. |
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| 2. | Norway company incorporation is easy. The World Bank positively ranks Norway the world's 10th easiest country in which to set up a business, scoring highly on factors such as: i) simple incorporation formalities; and ii) ease of obtaining business licenses. |
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| 3. | International entrepreneurs choose Norway company formation because it projects an excellent image to their clients, suppliers, bankers and potential investors. Norway is not a member of the European Union (EU), but is positively perceived as one of the world's least corrupt countries, ranking 7th in the 2012 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians. |
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| 4. | According to IMD’s World Competitiveness Yearbook 2012, Norway is the 8th most competitive country in the world. |
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| 5. | A Norwegian company can be 100% foreign owned, and only one shareholder is required to fulfill statutory company incorporation requirements. |
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| 5. | The Forbes magazine Best Countries For Business 2011 survey ranks Norway as the world's 8th best jurisdiction for business. The report takes into account a number of factors including personal freedom and trade freedom, for which Norway ranks number 1 and 4, respectively. |
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| 6. | While the Norwegian government offers few specific incentives for investors considering Norway company formation, expectations do exist, including tax deductions for research and development (R&D) functions in Norway's oil industry. |
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| 7. | Healy Consultants can open a corporate bank account to support Norway company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services. |
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Disadvantages of Norway company registration |
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| 1. | Norway company formation is expensive. In addition to high government fees, the minimum capital of 100,000 Norwegian Kroner (Euro €13,200) must be paid up in full during incorporation. |
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| 2. | A Norwegian company requires a minimum of two directors, at least one of whom must be resident in Norway. If required, Healy Consultants will provide the resident director to fulfill this statutory obligation. |
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| 3. | A Norwegian company is subject to a corporation tax of 28% on worldwide income. Following Norway company formation, it is necessary to prepare financial statements in Norwegian for the Norwegian Register of Business Enterprises and submit an annual tax return to the Norwegian Tax Department. |
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| 4. | Norway has low unemployment and high labour costs, making recruitment more challenging than in other countries. If required, Healy Consultants helps our clients obtain Norway employment and residence visas following Norway company formation. |
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Contact Us |
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For more information on Norway company formation, contact email@healyconsultants.com or telephone us at (+65) 6735 0120. |
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