Open a Sole Proprietorship in NorwayUpdated on Wednesday 01st March 2017
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A sole proprietorship or sole-trader is the business structure which responds to the needs of those who decided to be self-employed persons. In Norway, a sole proprietorship must be registered with the relevant authority, pay the afferent taxes and submit in due time the tax returns. Our law firm in Norway can assist you with information relating the establishment procedure of a sole proprietorship in this country.
Reasons to open a sole proprietorship in Norway
Depending on the initial investment funds and on the specific needs of the owners, the Norwegian state offers several types of business structures. The sole proprietorship in Norway is a legal way in which a physical person is allowed to conduct business in this country.
The establishment of a sole trader in Norway is very easy and it can be performed almost immediately. The costs for opening a sole proprietorship in Norway are also very reduced, which allows almost anyone to enter in such a business form.
The taxation for a sole proprietorship in Norway implies a very simple procedure compared to that involved in other types of entities. The income that the owner must report is the total income, with no difference to make between owner’s income and business income.
Our Norwegian lawyers are always ready to offer legal support in the formation of a sole proprietorship by assisting you in the registration procedures with the Norwegian authorities.
Conditions for the opening of a sole trader in Norway
There are several conditions which are imposed to an owner if he intends to open a sole proprietorship in Norway. The owner must be at least of 18 years old, and he can be a resident of this country or not. However the authorities require that the business has an address in Norway.
The business and the owner are not considered separate entities in the case of a sole proprietorship; this is why the taxes apply to the total income of the person who owns the business.
In order to register a sole proprietorship in Norway you must address the Central Coordinated Register for Legal Entities (Brønnøy Register Centre).
Our law firm in Norway can offer you all needed support with the formation procedure of a sole proprietorship in Norway, by helping you elaborate the required documentation and aditionally by filing it for you to the Central Coordinated Register for Legal Entities (Brønnøy Register Centre). Don't hesitate to contact us in order to facilitate your start on the Norwegian market.