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Set up a General Partnership in Norway

Set up a General Partnership in Norway

Updated on Tuesday 13th June 2017

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Investors who want to associate and start a business in Norway can put their idea to work by setting up a general partnership (ANS). This business form presents several particularities concerning the liability of the partners allowing legal persons as well as individuals to associate for business purposes in Norway.

Our Norwegian lawyers are trustworthy reference points in the formation of a company in Norway as well as on the elaboration of the partnership agreements
 

Main steps in the formation of a general partnership in Norway

 
After investors have decided on the industry in which they want to enter the Norwegian market by opening a general partnership, the next step is to find a name for the company. Several alternatives must be filled in an application to the local Business Register in order to verify the availability of the name. This step of name reservation can also be done online, through the website of the Norwegian authority. 
 
The second aspect you need to check is whether you have gathered a complete documentation for the registration of your partnership. A bank account needs to be opened as well in which the investors can deposit the initial capital for the general partnership. 
 
Our attorneys in Norway can help you elaborate the paperwork in view of the registration process with the Business Register in Norway for your general partnership in this country.
 

Legal framework regulating the general partnership in Norway

 
The Companies Act issued in 1985 in Norway regulates the formation procedure of general partnerships. The law stipulates that one of the main steps in the opening of a general partnership is the elaboration of an agreement containing clear references to the mutual responsibilities between the partners.
 
In a general partnership the liability for the business is joined, meaning that one partner might need to support the full liability of the company in case another partner is no longer able to pay. Investors can also open a general partnership in which each partner is liable only to the extent of his initial contribution and this type of partnership is named general partnership with shared liability (DA). Our law firm in Norway can provide detailed explanation on the liability issues.
 
The Accounts Act from 1998 does not require from general partnerships to publish their accounts or to file them with the Registry of Companies. Moreover the taxation rules for general partnerships impose proportional taxes levied from each partner.   
 
Feel free to contact our law firm in Norway for support in the formation process of a gerneral partnership in Norway.

 

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