Go Global - expanding to Norway

Expand your business to Norway effortlessly with help from our local experts at Greenstep Norge AS

Norway is the fifth-largest oil exporter and the third-largest gas exporter in the world. It is a safe and easy country for doing business and the aim of Norway’s government is that the tax system shall be competitive in order to attract foreign investment. However, expanding your business abroad can require a lot of resources and practical arrangements. No one has everything covered up by themselves - our experts will be happy to help you plan the big steps!

When you go global with a partner, you avoid unnecessary trial and error as well as common mistakes, such as too rapid growth without sufficient processes or not being aware of all the necessary laws, regulations, or policies. We already have experience with customers in Norway, and we are constantly looking to expand our expertise and develop our services. All global solutions are tailor-made - please book an appointment with us to discuss more the possibilities for your company.

Greenstep is also part of the international MSI Global Alliance. MSI Global is a network of accounting and legal firms with over 30 years of successful experience and includes more than 260 independent law firms from more than 100 countries.

Services we provide in locally in Norway

  • Accounting services
  • Payroll services
  • CFO services
  • Netsuite
  • Sustainability services
  • BI og analysetjenester

Doing business in Norway

  • Business structures
    The most common business entity alternatives for foreign enterprises doing business in Norway are branch, subsidiary, partnership and joint venture, and sole-proprietorship.
  • Enterprise registration
    Everybody that conducts business activities within Norway must register with the centralized Registry at Brønnøysund. The Registry provides the enterprise with a nine-digit Norwegian ID number, called “organization number” or “org.no.”. This ID number is required when entering into contracts, invoicing, reporting, communicating with public authorities, etc.
  • VAT
    Norway’s default VAT rate is 25%, reduced to 15% on food and 12% on e.g. public transportation, hotel accommodation.
  • Accounting
    All entities engaged in business activities must keep books of accounts according to Norwegian GAAP. However certain businesses are obliged to use international accounting standards, IFRS.
  • Auditing
    A statutory audit is required if one of the following criteria is met: Operating revenues exceed NOK 6 million (NOK 5 million for a branch), balance sheets assets amount to more than NOK 23 million, or the average number of employees is more than 10 full-time equivalents.
  • Corporate taxation
    In general, the Norwegian corporate tax rate is 22%. However, companies in the financial sector are subject to a tax rate of 25%.
  • Individual taxation
    Salaries are taxed at rates of up to 38.2%, consisting of a flat rate of 22% and a progressive 4 steps tax of up to 16.2%. The highest tax rate is levied on annual salary exceeding NOK 999 550.

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