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Open a Private Limited Company in Norway

Open a Private Limited Company in Norway

Updated on Wednesday 14th June 2017

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Many investors in Norway decide to organize their enterprise as a private limited liability company, locally called Aksjeselskap (AS). There are many investment opportunities in this country and the AS provides a convenient legal form in which to implement your business projects. If you intend to invest in Norway you can rely on the company formation services provided by our law firm in Norway.  

 

What are the particularities of a private limited company in Norway?

The Norwegian Company Law provides several legal forms in which a business can be organised such as Partnerships, Sole Proprietorships or Limited Liability Companies. Despite the Sole Proprietorship, the AS allows for several shareholders who are only liable for losses or gains in the limit of their contribution. Compared to the Public Limited Companies, for which investors must deposit 370.000 EUR, the base capital on which an AS can be formed is of only 100.000 NOK (13, 000 EUR) thus making of the AS one of the most popular types of companies in the Norwegian market. 
 
The formation and functioning of the AS are regulated through the Norwegian private limited liability companies Act and its amendments from July 2013. Our lawyers in Norway can explain you in more detail the advantages of organising your business as a private limited company and can help you through the formation procedure.
 

Main steps in opening a private limited company in Norway

The company formation process in Norway follows a typical procedure. The opening of a private limited liability company starts with finding a good name for the business. The name must be checked with and approved by the Register of Business Enterprises. A bank account is another requirement for the formation of an AS. One of our Norwegian lawyers can give you all the details on the specific conditions that banks of this country impose on foreign investors in Norway.
 
Secondly, a list of documents and information must be filled through an application process by which the company will be registered with the Register of Business Enterprises. Those documents consist of the memorandum of association as well as documents mentioning the names of the board members, the commercial domain of the company and its main objectives and role. After the amendments of 2013 to the private limited companies Act, the extensiveness of the documentation has been reduced significantly. 
 
You are welcome to contact our attorneys in Norway who can help you elaborate a complete and correct documentation in order to register as soon as possible a private limited liability company in Norway.
 

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