Set Up a Real Estate Business in Norway
Set Up a Real Estate Business in NorwayUpdated on Tuesday 15th May 2018
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Which are the main authorities regulating the real estate sector in Norway?
Businessmen who want to open a company in Norway in the real estate sector will need to register with the relevant authorities, which are represented by the Mapping Authority and the Land Registry. The Norwegian Mapping Authority has as a main activity the registration of any acquisition of property in this country, while the other relevant authority which monitors the activities carried out in this sector, the Land Registry, is entitled to maintain the current situation of real estate ownership and other associated matters, such as mortagages or leases. Our team of Norwegian lawyers can provide in-depth assistance on other official bodies with which investors should register in this country.
Are there any restrictions for foreign investors in Norway?
As a general rule, foreign businessmen who want to invest in Norway in the real estate sector are not limited by any restrictions. However, when purchasing a real estate property in Norway it is necessary to obtain a concession from the local authority operating in the region in which the respective purchase will be concluded. This is necessary for obtaining a title from the Norwegian Land Registry and, in practice, this does not represent an issue for those purchasing properties in this country. Our team of lawyers in Norway can provide in-depth advice on the procedures imposed by the local Land Registry.
Which is the most suitable business form for investing in the Norwegian real estate industry?
Although investors may choose any legal entity for setting up a business in the real estate sector, most of the businesses are set up as limited liability companies operating as single purpose vehicles (SPVs), but investors may also opt for profesionally managed funds.
What are the main types of properties built in Norway?
Investors who want to start a real estate project here may build both residential and commercial buildings. In the case of residential buildings, the most common projects are the following:
- • detached houses, such as a farmhouse or a detached house with two dwelling units;
- • row houses, such as linked houses, terraced houses or houses with three dwellings;
- • multi-dwelling buildings, which can vary between two to five or more stories;
- • community residence, such as building projects for elderly, student houses or other types of social groups.
Businessmen are invited to address to our law firm in Norway for in-depth assistance on the building permits that are imposed to companies operating in this sector.