Norwegian Legislation for Foreign Investments
Norwegian Legislation for Foreign InvestmentsUpdated on Wednesday 05th April 2017
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Norway has always been open to foreign investments, due to its economic stability, and a competitive business background. Being placed in the same category with the countries rich in natural resources, and recognized for the full potential in various domains, Norway is strongly encouraging overseas investments in many areas of interest, like petroleum or regions with low developments. If you are interested in making investments in Norway, we advise you to solicit comprehensive and necessary guidance from our Norwegian lawyers, who can explain you the legislation in this matter.
Foreign Investments in Norway
If you have decided that Norway has the proper business environment to invest in, it is good to know that the authorities encourage the entrepreneurs to establish their presence and enjoy the benefits that come with their investments. Companies registered in Norway can attain different assets and can perform their activities without any special permits, but there are situations, like the following, where concessions are necessary:
• the purchase of particular mines;
• the acquisition of more than 100,000 sq. mt.;
• the purchase of waterfalls for hydropower production;
We remind that Norway’s investment management is grounded on the equal treatment principle, but with certain restrictions in transport and natural resources regarding the ownership. You can ask for details from our lawyers in Norway regarding the methods and also the available legislation for foreign investments in the country. You cn also receive important legal services for your company.
Government controls on foreign investments in Norway
The postal services, the transport (except the railway cargo), the retail sale of alcohol, and the domestic production in Norway are secured and monopolized by the Norwegian government. It is good to know that the electricity distribution in the country is fully open to foreign investments, being one of the most liberal and powerful sectors worldwide. As for the investments in the real estate sector, overseas companies can successfully acquire or rent office spaces and commercial accommodations, under the provisions of the Act of May 1974 and Act of December 1917. Regarding the financial sector, the Norwegian authorities apply the same rules for overseas players on the market, but half of the board of executives of the established bank in the country needs to be from Norway.
Legislation on foreign investments in petroleum sector in Norway
If you are a businessman who wants to develop activities in the oil and gas sector you must consider the Petroleum Act of November 1996 which contains details about exploration sector and the production that comes with it. Moreover, the Norwegian offshore concession system conforms with the EU (European Union) guidelines settled in 1994, which oversees the specifications for hydrocarbon expansion on a flexible foundation. The Ministry of Petroleum and Energy is in charge of issuing the awarding licenses for companies seen as the proper operator in this area.
Additional information about the legislation related to foreign investments can be obtained if you contact our law firm in Norway.