Business Start-up Costs in Norway
Business Start-up Costs in NorwayUpdated on Tuesday 23rd April 2019
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For someone who is investing in this country for the first time, it is useful to have an overview of the main costs for opening a business in Norway. Depending on the legal structure of the new establishment, the initial investments may vary significantly. Our law firm in Norway can assist you with the legal issues regarding the formation of your company in Norway and can give you all needed information of the business start-up costs in Norway.
What are the main business startup costs in Norway?
If you intend to invest in Norway and you have decided to open a company in this country, you have most likely already started to elaborate a business plan. In this plan you need to take into consideration the initial costs for opening a business in Norway. You have to keep in mind the expenses for the renting of an office, for the acquisition of all necessary equipment, but also employee expenses, and advertising and insurance costs.
Another category of expenses are the borrowing costs and the money that need to be deposited as a minimum capital for different types of business forms in Norway. As such, in order to establish a private limited liability company you and the other owners need to have an initial share capital of at least NOK 30, 000. For establishing a larger business structure such as a Norwegian Joint Stock Company (Allmennaksjeselskap - A.S.A) the required capital is even larger, amounting a minimum of 1.000.000 NOK.
For further information regarding the business start-up costs in Norway and the regulations concerning the formation of a new company in this country, you can call on our lawyers in Norway who will be happy to assist you in all needed legal procedures.
Other business start-up costs in Norway
Some of the initial investments in your company in Norway will be for the registration of your enterprise and for the reservation of its name. After the formation procedure has been completed the new company might need to register as well for a VAT number, so that it can be able to deduce the VAT tax, which amounts to 25%. The corporate tax which aplies to companies in Norway is of 27%.
Other start-up costs in Norway might come from:
• Expenses on accounting and legal fees;
• Initial feasibility costs for evaluating the potential market and products;
• Advertising costs, including elaboration of the website for your Norwegian business;
• Rent and utilities costs;
• Expenses on technological equipment;
• Costs for the training and formation of your employees.
We kindly invite you to contact our law firm in Norway for all questions regarding the business start-up costs in this country.