{"id":136886,"date":"2026-04-07T12:07:14","date_gmt":"2026-04-07T12:07:14","guid":{"rendered":"https:\/\/my.legal500.com\/guides\/?post_type=comparative_guide&#038;p=136886"},"modified":"2026-04-07T12:07:14","modified_gmt":"2026-04-07T12:07:14","slug":"norway-doing-business-in","status":"publish","type":"comparative_guide","link":"https:\/\/my.legal500.com\/guides\/chapter\/norway-doing-business-in\/","title":{"rendered":"Norway: Doing Business In"},"content":{"rendered":"","protected":false},"template":"","class_list":["post-136886","comparative_guide","type-comparative_guide","status-publish","hentry","guides-doing-business-in","jurisdictions-norway"],"acf":[],"appp":{"post_list":{"below_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Deloitte Advokatfirma AS<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2019\/12\/deloittelegal-logo.jpg\"\/><\/span><\/div>"},"post_detail":{"above_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Deloitte Advokatfirma AS<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2019\/12\/deloittelegal-logo.jpg\"\/><\/span><\/div>","below_title":"<span class=\"guide-intro\">This country specific Q&amp;A provides an overview of Doing Business In laws and regulations applicable in Norway<\/span><div class=\"guide-content\"><div class=\"filter\">\r\n\r\n\t\t\t\t<input type=\"text\" placeholder=\"Search questions and answers...\" class=\"filter-container__search-field\">\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\r\n\r\n\r\n\t\t\t<ol class=\"custom-counter\">\r\n\r\n\t\t\t\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is the system of law in your jurisdiction based on civil law, common law or something else?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Norway is a civil law country.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the different types of vehicle \/ legal forms through which people carry on business in your jurisdiction?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><ul>\n<li>Private limited liability companies (No. \u2018aksjeselskap\u2019, abbreviation \u201cAS\u201d), regulated by the Norwegian Private Limited Liability Companies Act;<\/li>\n<li>Public limited liability companies (No. \u2018allmennaksjeselskap\u2019, abbreviation \u201cASA\u201d), regulated by the Norwegian Public Limited Liability Companies Act;<\/li>\n<li>Companies with liability (abbreviations \u00abANS\u00bb or \u00abDA\u00bb), regulated by the Norwegian act of 21 June 1985 no. 83;<\/li>\n<li>Limited partnerships (No. \u2018kommandittselskap\u2019, abbreviation \u201cKS\u201d), regulated by the Norwegian act of 21 June 1985 no. 83;<\/li>\n<li>Co-operatives (No. \u2018samvirkeforetak\u2019, abbreviation \u201cSA\u201d), regulated by the Norwegian act of 29 June 2007 no. 81;<\/li>\n<li>A permanent establishment of a foreign entity (No. \u2018Norskregistrert Utenlandsk Foretak\u2019, abbreviation NUF) regulated in home jurisdiction and subject to registration in Norway in accordance with the Norwegian act of 21. June 1985 no 78<\/li>\n<li>Foundation (No. \u2018Stiftelse\u2019) regulated by the Norwegian act of 15 June 2001 no 59.<\/li>\n<li>Sole proprietorships (will not be further included in this overview)<\/li>\n<\/ul>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Can non-domestic entities carry on business directly in your jurisdiction, i.e., without having to incorporate or register an entity?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>A non-domestic entity carrying out a business in Norway would not necessarily have to incorporate a Norwegian legal entity but would have to register in the Norwegian Business Register as a NUF (see above), as well as for general business purposes such as tax purposes and employer status, and other regulatory purposes depending on the scope of the business.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any capital requirements to consider when establishing different entity types?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Public and private limited liability companies have requirements for minimum share capital amounts prescribed by law, and in addition requirements prescribed by law concerning the maintaining of proper levels of equity and liquidity. Also, limited partnerships (\u201cKS\u201d) have requirements for a determined capital.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are the different types of vehicle established in your jurisdiction? And which is the most common entity \/ branch for investors to utilise?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Both public and private limited liability companies, as well as co-operatives are established by a memorandum of incorporation including a minimum set of articles of association, to be filed with the Norwegian Register of Business Enterprises, together with necessary confirmations of share capital insertion from a body with the legal authority to confirm.<\/p>\n<p>Companies with liability (ANS and DA) and limited partnerships (KS) are established by entering into a company agreement, also to be filed with the Norwegian Register of Business Enterprises.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How is the entity operated and managed, i.e., directors, officers or others? And how do they make decisions?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Public and private limited liability companies are required to have a board of directors. For public limited liability companies, the minimum number of required board members is three (five if the company has a corporate assembly as defined in the public limited liability companies act). The minimum number of required board members for private limited liability companies is one (five if the company has a corporate assembly as defined in the private limited liability companies act). The board of directors has the responsibility for administration and supervision of the company and passes its resolutions in meetings unless the chair of the board finds that the matter may be submitted in writing or handled in another manner. There is a requirement pursuant to the public and private limited liability companies acts that the procedure must be adequate.<\/p>\n<p>Public limited liability companies are required to appoint a general manager, while private limited liability companies may appoint a general manager.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there general requirements or restrictions relating to the appointment of (a) authorised representatives \/ directors or (b) shareholders, such as a requirement for a certain number, or local residency or nationality?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>For public limited liability companies, the minimum number of required board members is three, while the minimum number of required board members for private limited liability companies is one (in both cases five if the company has a corporate assembly as defined in the public or private limited liability companies act, cf. above under question 6).<\/p>\n<p>The general manager and at least half of the board members shall pursuant to the Norwegian Public Limited Liability Companies Act and the Norwegian Private Limited Liability Companies Act be resident in an EEA-state, the United Kingdom of Great Britain and Northern Ireland or Switzerland.<\/p>\n<p>The employees of a public limited liability company or a private limited liability company may have the right to appoint board members if certain thresholds stipulated in the legislation are met.<\/p>\n<p>In both private and public limited liability companies, there are also certain gender representation requirements.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Apart from the creation of an entity or establishment, what other possibilities are there for expanding business operations in your jurisdiction? Can one work with trade \/commercial agents, resellers and are there any specific rules to be observed?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>From a corporate law perspective, there are no restrictions in expanding business operations in Norway. Unless specifically noted in the articles of association, an entity or establishment is free to work with trade\/commercial agents and resellers.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any corporate governance codes or equivalent for privately owned companies or groups of companies? If so, please provide a summary of the main provisions and how they apply.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Norwegian Corporate Governance Board (&#8220;NCGB&#8221; or &#8220;NUES&#8221;) issues the recommendation on corporate governance for companies listed in Norway. For more information, please refer to English | NUES.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the options available when looking to provide the entity with working capital? i.e., capital injection, loans etc.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Share capital increases, potentially including share premium, are in private limited liability companies executed in accordance with Chapter 10 of the Norwegian Private Limited Liability Companies Act and may be made by for example cash contribution. A resolution for a share capital increase by cash contribution shall be passed by the general meeting of the company following a proposal by the board of directors and requires a confirmation of received share deposit by an entity with authorization to make such confirmation and shall be registered in the Norwegian Register of Business Enterprises.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the processes for returning proceeds from entities? i.e., dividends, returns of capital, loans etc.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Dividends from a private limited liability company may be distributed if certain criteria stipulated by law are met based on the latest approved annual accounts, and extraordinary dividend may also be based on an interim balance provided certain requirements which are outlined in the Norwegian Private Limited Liability Companies Act are met. A general requirement that the company shall have a proper equity and liquidity following a dividend distribution also exists. Distribution of dividend is resolved by the general meeting following a proposal by the board of directors.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are specific voting requirements \/ percentages required for specific decisions?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The general rule under the Norwegian Private Limited Liability Companies Act is that the general meeting passes resolutions by simple majority of the votes cast, provided that the Norwegian Private Limited Liability Companies Act does not stipulate otherwise. The Norwegian Private Limited Liability Companies Act requires that resolutions to amend the articles of association of the company requires a majority of two thirds of both the votes cast and the share capital represented at the general meeting. Further, the Norwegian Private Limited Liability Companies Act also contains regulation that certain and specific types of resolutions require a qualified majority of the supporting vote of owners of shares comprising more than nine-tenths of the share capital represented at the general meeting and in addition a majority as required for amendments of the articles of association. Certain and specific types of resolutions may under the Norwegian Private Limited Liability Companies Act also require the majority of all shareholders.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are shareholders authorised to issue binding instructions to the management? Are these rules the same for all entities? What are the consequences and limitations?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The shareholders of a private limited liability company pass their resolutions through the general meeting of the company which is the highest corporate body of the company. Outside the general meeting the shareholders do not have authorization in the company, and any instruction to the board of directors of the company must consequently be made through a resolution in the general meeting.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the core employment law protection rules in your country (e.g., discrimination, minimum wage, dismissal etc.)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><table style=\"font-size: 1rem\" width=\"513\">\n<tbody>\n<tr>\n<td width=\"103\"><strong>Right \/ Protection<\/strong><\/td>\n<td width=\"410\"><strong>Details <\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>\u00a0<\/strong><\/p>\n<p><strong>National Minimum Wage<\/strong><\/td>\n<td width=\"410\">&nbsp;<\/p>\n<p>In general, there are no minimum wage requirements set out in the Norwegian employment legislation. However, minimum wages have been introduced in certain sectors and employers in these sectors are obligated to pay minimum wages in accordance with general application of collective agreements. From 1 January 2026, the number of sectors has been substantially extended for employees working on ships.<\/p>\n<p>Also, immigration legislation has minimum remuneration requirements in order to obtain resident and work permits in Norway.<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>\u00a0<\/strong><\/p>\n<p><strong>Holiday <\/strong><\/td>\n<td width=\"410\">&nbsp;<\/p>\n<p>According to the Norwegian Holiday Act, employers are obliged to ensure that employees have 4 working weeks plus one working day of vacation every calendar year (holiday year). Employees with 6 days working week will be entitled to 25 vacation days, and employees with 5 days working week are entitled to 21 vacation days. All days count as working days except Sundays and public holidays. Employees over the age of 60 are entitled to one extra working week of holiday.<\/p>\n<p>&nbsp;<\/p>\n<p>Employers subject to Collective Bargaining Agreements (CBA) are normally obliged to offer 4 or 5 additional working days as vacation, ending up with a total of 30 days of vacation for employees with 6 days ordinary working week and 25 days of vacation for employees with 5 days ordinary working week. Also, for employers who are not subject to CBAs, it is common to offer such additional vacation.<\/p>\n<p>&nbsp;<\/p>\n<p>Holiday pay from the employer is calculated on the basis of remuneration paid in the calendar year preceding the holiday year. This means that holiday pay for holiday in year 2 is calculated on remuneration paid during calendar year 1. Holiday pay is calculated at the rate of 10,2% (if not subject to CBA) or 12% (if subject to CBA).<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Working Hours<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>Breaks<\/strong><\/td>\n<td width=\"410\">As a main rule, the maximum working hours set out in the Norwegian Working Environment Act are nine hours a day, and 40 hours over a seven-day period. The working hours are usually divided between the first five days of the week, starting on Monday, with 8 hours daily, however other schedules are also possible.<\/p>\n<p>&nbsp;<\/p>\n<p>Exemptions can be made through CBA\u2019s or based on application towards the Norwegian Labor Inspection Authority.<\/p>\n<p>&nbsp;<\/p>\n<p>The employee shall have at least one break if the daily working hours exceed five and a half hours. The total break time shall be at least half an hour if the daily working hours are at least eight hours. If the employee is not free to leave the workplace during the break or if there are no adequate break rooms available, the break shall be considered part of the working hours. When an employee works more than two hours beyond the regular working hours, the employee shall be granted a break of at least half an hour. This break shall be considered part of the working hours.<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>Rest Periods <\/strong><\/td>\n<td width=\"410\">&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>As a main rule, employees are entitled to a minimum of 11 hours of rest during a 24-hour period, and 35 hours over a period of seven days.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Pension rights <\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td width=\"410\">All employers, both Norwegian and foreign, are obliged to provide an occupational pension plan in accordance with the minimum requirements set out in the Mandatory Occupational Pension Act. Currently, the minimum is set to be a 2% defined contribution plan. The contribution is limited upwards to salary up to 12 times the National Insurance\u2019 Basic Amount. The Basic Amount is set annually, and is as of May 2025 NOK 130,160.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Discrimination <\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Psychosocial Working Environment<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>&nbsp;<\/td>\n<td width=\"410\">The Equality and Anti-Discrimination Act promotes equality and prevents discrimination on the grounds of, e.g., gender, pregnancy, ethnicity, religion, disability, sexual orientation, gender identity, gender expression, age or other significant characteristics of a person.<\/p>\n<p>&nbsp;<\/p>\n<p>According to the Working Environment Act, the work must be organized, planned and carried out in a manner that ensures that the psychosocial working environment factors in the company are fully justifiable with regard to employee health, safety and welfare. This includes, among others, that the work shall be arranged to preserve the employees&#8217; integrity and dignity. Efforts shall be made to arrange the work to enable contact and communication with other employees of the undertaking. The employees shall not be subjected to harassment, including sexual harassment, or other improper conduct. Employees shall, as far as possible, be protected against violence, threats and undesirable strain as a result of contact with other persons.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Maternity Leave \/ Pay<\/strong><\/td>\n<td width=\"410\">Parents are entitled to a period of leave corresponding with the period they receive maternity\/paternity allowance from the National Insurance Scheme. In addition, each of the parents is entitled to an additional 12 months of unpaid maternity\/paternity leave immediately after the paid leave. After giving birth, the parents are entitled to a minimum of 12 months&#8217; leave in total or for a longer period if the parents receive maternity\/paternity allowances from the Norwegian National Insurance Scheme. The first 6 weeks after birth are reserved for the mother and the other parent is entitled to 2 weeks\u2019 leave together with the mother immediately after the birth. In addition, the pregnant employee is entitled to leave of absence for up to 12 weeks during pregnancy.<\/p>\n<p>&nbsp;<\/p>\n<p>The maternity\/paternity allowances are paid by the Norwegian National Insurance Scheme if various conditions are fulfilled, i.e. a minimum working period of 6 of the 10 months before commencement of the maternity leave.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Paternity Leave <\/strong><\/td>\n<td width=\"410\">In connection with the birth of a child, the father, co-mother or other person who assists the mother during the pregnancy is entitled to two weeks&#8217; leave immediately after the birth. In addition, the parents can share the total period of 12 months leave except for 6 weeks after birth and 3 weeks during pregnancy, which are reserved for the mother.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Shared Parental Leave<\/strong><\/td>\n<td width=\"410\">If both parents fulfil the entitlements to maternity\/paternity allowance from the National Scheme, the total leave can be shared between the parents. After birth, 15 weeks are reserved for the mother, 15 weeks are reserved for the father, and the remaining can be shared upon own choice.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Statutory sick pay <\/strong><\/td>\n<td width=\"410\">Employees can receive sickness benefits for a maximum of 52 weeks within a three-year period. This applies regardless of whether they are fully or partially on sick leave. When an employee has been fully able to perform work for 26 weeks without receiving sickness benefits, the employee will regain full sickness benefit entitlement.<\/p>\n<p>&nbsp;<\/p>\n<p>The employee may also be absent due to self-certified illness for up to three days. The right to absence due to self-certified illness may be suspended if the employee has more than four absences within a 12-month period without providing a medical certificate.<\/p>\n<p>&nbsp;<\/p>\n<p>The first 16 days, including any instances of self-certified absence, are covered by the employer, and the following are covered by the Norwegian National Insurance Scheme up to a maximum threshold of 6 times the Basic Amount. The Basic Amount is set annually by the National Insurance and is from May 2025 NOK 130\u00a0160.<\/p>\n<p>&nbsp;<\/p>\n<p>If the employee\u2019s ordinary remuneration exceeds 6 times the Basic Amount, employers can decide to cover the amount exceeding the maximum payment from the Scheme and up to ordinary remuneration level.<\/p>\n<p>&nbsp;<\/p>\n<p>To be entitled to sickness benefits in Norway, the employee must have performed work for at least four consecutive weeks before the employee is absent from work due to sickness. To be able to use self-certification, the employee must have performed work for at least two months.<\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Statutory Notice Periods <\/strong><\/td>\n<td width=\"410\">The minimum notice period according to the Working Environment Act is one month and the maximum is six months, depending on age and seniority. During a 6-month probation period, the notice period can be set at 14 days.<\/p>\n<p>While ordinary notice periods commence the first day in the first month following a written notice, the notice period during a probation period commences the first day after the notice is given.<\/p>\n<p>&nbsp;<\/p>\n<p>For an employee who has been continuously employed in the same company for at least 5 years at the time of dismissal, a mutual notice period of at least 2 months applies. If the employee has been employed for at least 10 years, the mutual notice period shall be at least 3 months.<\/p>\n<p>&nbsp;<\/p>\n<p>If an employee is dismissed after at least 10 years of continuous employment in the same company, the notice period shall be at least 4 months if the dismissal occurs after the employee has turned 50 years old, 5 months after the employee has turned 55 years old and 6 months after the employee has turned 60 years old. The employee may resign with a notice period of at least 3 months.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Unfair dismissal <\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td width=\"410\">A dismissal must be fair, which means there must be specific reasons for the dismissal.<\/p>\n<p>&nbsp;<\/p>\n<p>An ordinary dismissal must be based on circumstances related to the undertaking, the employer or the employee. A summary dismissal can be considered if the employee is guilty of a gross breach of duty or other serious breaches of the employment contract.<\/p>\n<p>&nbsp;<\/p>\n<p>Employees are protected against unfair dismissal, such as dismissal due to illness, pregnancy, adoption, childbirth and military service, and in the case of an unfair dismissal, the employee may raise legal claim for compensation for economic and non-economic loss. In addition, the dismissal may be ruled invalid by the court.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Statutory Redundancy Payment<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td width=\"410\">There are no requirements related to statutory redundancy payment set out in the Norwegian employment legislation, but the employee is entitled to full remuneration throughout the notice period. The employee is also entitled and obliged to perform work through the notice period, but the employer and employee can agree that the employee\u2019s obligation to perform work is waived while continuing receiving remuneration through the notice period.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"103\"><strong>Statement of particulars<\/strong><\/td>\n<td width=\"410\">The employee is entitled to receive an employment contract as soon as possible and within 7 days after the commencement date as a minimum. The contract shall fulfil the minimum requirements for an employment contract, where at least the following shall be included: the identities of the parties, commencement date (if the employment is of a temporary nature, its expected duration and the basis for the appointment), working and rest hours, compensation, holiday and holiday pay, place of work, position, notice and trial period and applicable collective bargaining agreements. The contracts shall also include information on the procedures for termination, arrangements for shift changes, arrangements for work beyond agreed working hours, including payment for such work, information on competence development rights offered by the employer and information on social security benefits provided by the employer.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">On what basis can an employee be dismissed in your country, what process must be followed and what are the associated costs? Does this differ for collective dismissals and if so, how?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>A dismissal must be objectively justified based on circumstances which can be related to the undertaking, the employer or the employee.<\/p>\n<p>Before termination of an employment contract, the employer shall arrange for a consultation meeting with the employee.<\/p>\n<p>In the consultation meeting, the employer should explain the reasons for considering termination, and let the employee give his\/her statement about these and other reasons why the termination should not be carried out. After the meeting, the employer must take into consideration what was said during the meeting before making a final decision regarding the termination.<\/p>\n<p>The dismissal must be given in writing and shall include specific formalities and information. A dismissal which does not fulfill the specific requirements and formalities is not valid and may be considered as void.<\/p>\n<p>The employer is obliged to offer other suitable work, including in other companies within the group, as an alternative to dismissal if the dismissal is due to circumstances related to the business.<\/p>\n<p>An employee who has been dismissed due to circumstances related to the business has a preferential right to re-employment within the group, provided that the employee is qualified.<\/p>\n<p>In the event of collective dismissals, the employer shall at the earliest opportunity enter consultations with the employees&#8217; elected representatives with a view to reaching an agreement to avoid collective dismissals or to reduce the number of persons who will be dismissed. Further requirements related to the cause of the termination and formal requirements in the dismissal also apply in the event of collective dismissals. The employer considering collective dismissals shall, as early as possible and no later than when summoning for consultations, notify the Norwegian Labour and Welfare Organization.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Does your jurisdiction have a system of employee representation \/ participation (e.g., works councils, co-determined supervisory boards, trade unions etc.)? Are there entities which are exempt from the corresponding regulations?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Companies Act of 13 June 1997, No. 44 and No. 45, states that all companies established in accordance with the acts are obliged to form a corporate assembly if the company employs more than 200 employees. The corporate assembly will have a minimum of 12 members, according to decisions made by the general meeting of the shareholders. One-third of the members of the corporate assembly shall be employees elected by the employees. The duties of the corporate assembly are to elect members of the company board, supervise the board and the general manager\u2019s management of the company, and make a statement to the general meeting of the shareholders regarding the accounts.<\/p>\n<p>It is possible to make agreements with the employees that the company shall not establish a corporate assembly, and the company\u2019s articles of association may also stipulate a corporate assembly even if the company employs fewer than 200 employees.<\/p>\n<p>The employees of a company without a corporate assembly can request that there are employee representatives on the board of the company. Such request must be proposed by a majority of the employees, and employee representatives on the board may only be requested if the company employs more than 30 people. The number of employee representatives on the board depends on the size of the company.<\/p>\n<p>According to the Working Environment Act, in businesses where at least 30 employees are regularly employed, a working environment committee shall be established, with representation from the employer, employees, and the occupational health service. The committee shall work towards the implementation of a fully satisfactory working environment in the company. The committee shall participate in the planning of occupational health and safety measures and closely monitor developments in matters concerning employees safety, health and welfare. A working environment committee shall also be established in businesses with between 10 and 30 employees if requested by either party within the company. Where working conditions warrant it, the Norwegian Labour Inspection Authority may decide that a working environment committee shall be established in businesses with fewer than 30 employees.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a system governing anti-bribery or anti-corruption or similar? Does this system extend to nondomestic constellations, i.e., have extraterritorial reach?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Norwegian Penal Code of 20 May 2005 No. 28 (straffeloven) criminalizes bribery and corruption (\u00a7 387 corruption, \u00a7 388 aggravated corruption and \u00a7 389 trading in influence). These provisions apply to both active and passive corruption, in both the public and private sectors, and expressly cover positions, offices and assignments in foreign jurisdictions.<\/p>\n<p>A corporate entity may be held criminally liable under the general corporate criminal liability regime in \u00a7\u00a7 27\u201328 of the Penal Code, which allows for prosecution of an enterprise when an offence has been committed on its behalf, subject to a discretionary assessment.<\/p>\n<p>In addition to criminal liability, the Norwegian Tort Act of 13 June 1969 No. 26 (skadeserstatningsloven) \u00a7 1-6 provides a civil liability mechanism. A person who suffers loss as a result of corruption may claim compensation from the responsible individual and, in certain circumstances, from that person&#8217;s employer, unless the employer can demonstrate that all reasonable precautions were taken to prevent corruption. This civil liability also applies where the corruption occurs abroad or where the loss arises abroad, provided the liable party or their employer is domiciled in Norway.<\/p>\n<p>As regards extraterritorial reach, the Norwegian Penal Code applies, among other things, to acts committed in Norway and in areas under Norwegian jurisdiction, to acts committed on installations on the Norwegian continental shelf and on Norwegian vessels, and to acts committed abroad by a Norwegian national, a person domiciled in Norway, or on behalf of an enterprise registered in Norway. Notably, for corruption and trading in influence offences under \u00a7\u00a7 387\u2013389 specifically, the legislation applies to acts committed abroad by Norwegian nationals, persons domiciled in Norway, or on behalf of Norwegian-registered enterprises, without the requirement that the act also be criminalised in the state where it was committed. This constitutes a broad extraterritorial reach for anti-corruption purposes.<\/p>\n<p>While there is no express statutory &#8220;failure to prevent bribery&#8221; obligation in Norwegian law, there is a general expectation, relevant to the assessment of culpability, that entities establish risk management systems for prevention, including risk assessments to identify potential exposure to bribery and corruption offences, and the implementation of risk-reducing control measures. This expectation may be taken into account in the assessment of the severity of violations.<\/p>\n<p>In addition, the Norwegian Accounting Act of 17 July 1998 No. 56 requires large enterprises, and small and medium-sized listed companies, to include sustainability reporting in their annual report. Sustainability matters for this purpose include combatting corruption and bribery, as defined in \u00a7 1-11 of the Accounting Act.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What, if any, are the laws relating to economic crime? If such laws exist, is there an obligation to report economic crimes to the relevant authorities?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p><strong>Laws relating directly to economic crime are:<\/strong><\/p>\n<ul>\n<li>The Norwegian Penal Code of 20 May 2005 no. 28 that criminalizes, among other things, bribery, corruption, fraud, tax evasion, embezzlement, fiduciary fraud, wage theft, accounting violation, money laundering, terrorist financing etc.<\/li>\n<li>The Norwegian Anti-Money Laundering Act of 1 June 2018 no. 23 that regulates responsibilities for \u201cobliged entities\u201d further defined (e.g. individuals and organizations operating in certain regulated sectors such as banks, law firms, accountancy practices, and estate agents etc.) to implement measures to prevent and detect money laundering and terrorist financing.<\/li>\n<\/ul>\n<p style=\"padding-left: 40px\">o There is an obligation for obliged entities to report to the relevant Norwegian authority of circumstances giving grounds for suspicion of money laundering or terrorist financing.<\/p>\n<ul>\n<li>The Norwegian Bookkeeping Act of 19 November 2004 nr. 73 stating that failure to comply with the bookkeeping provisions is punished according to the Norwegian Penal Code on accounting violation.<\/li>\n<li>The Norwegian Sanctions Act of 16 April 2021 nr. 18 that regulates and criminalizes violation of implemented sanctions regulations, some of which could relate to financial\/economical prohibitions\/restrictions.<\/li>\n<\/ul>\n<p style=\"padding-left: 40px\">o Specific sanction regulations may contain obligations to report\/notify the relevant Norwegian authority of money and asset freezes as well as in some circumstances report information that can promote compliance with the sanction regulations and the freezing provisions therein.<\/p>\n<ul>\n<li>The Norwegian Accounting Act of 17 July 1998 no. 56 requires that large enterprises, and small and medium-sized listed companies, perform sustainability reporting including among other the area of combatting bribery and corruption as further described in the act.<\/li>\n<\/ul>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How is money laundering and terrorist financing regulated in your jurisdiction?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Money laundering and terrorist financing activities are regulated by:<\/p>\n<ul>\n<li>The Norwegian Penal Code of 20 May 2005 no. 28 that criminalizes money laundering and terrorist financing as further defined in the Penal Code, where, among other things, negligent money laundering is included.<\/li>\n<li>The Norwegian Anti-Money Laundering Act of 1 June 2018 no. 23 that regulates responsibilities for \u201cobliged entities\u201d further defined (e.g. individuals and organizations operating in certain regulated sectors such as banks, law firms, accountancy practices, and estate agents etc.) to implement measures to prevent and detect money laundering and terrorist financing, which include measures such as e.g. performing risk assessments, undertaking appropriate customer due diligence and reporting to the relevant Norwegian authority circumstances giving grounds for suspicion of money laundering or terrorist financing.<\/li>\n<li>The Norwegian Sanctions Act of 16 April 2021 nr. 18 that regulates and criminalizes violation of implemented sanctions regulations, some of which could relate to financial\/economical prohibitions\/restrictions related to terrorist financing.<\/li>\n<\/ul>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there rules regulating compliance in the supply chain (for example comparable to the UK Modern Slavery Act, the Dutch wet kinderarbeid, the French loi de vigilance)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes, The Norwegian Transparency Act of 18 June 2021 No. 99 entered into force 1 July 2022.<\/p>\n<p>The Act promotes enterprises&#8217; respect for fundamental human rights and decent working conditions in connection with the production of goods and the provision of services and ensures the general public access to information regarding how enterprises address adverse impacts on fundamental human rights and decent working conditions.<\/p>\n<p>The Act applies to enterprises residing in Norway and foreign enterprises that are liable to tax in Norway under Norwegian domestic legislation, which are offering goods and services in or outside of Norway and which is one of the following:<\/p>\n<ul>\n<li>the enterprise is covered by Section 1-6 of the Accounting Act (i.e. public limited companies, listed companies and other accounting entities), or<\/li>\n<li>an enterprise which, on the balance-sheet date, meets at least two of the following three conditions:<\/li>\n<\/ul>\n<p style=\"padding-left: 40px\">o over 70 MNOK in sales revenue,<br \/>\no over 35 MNOK in balance sheet total,<br \/>\no over 50 man-years in the average number of employees in the financial year.<\/p>\n<p>The enterprises must carry out due diligence in accordance with the OECD Guidelines for Multinational Enterprises. Through due diligence the enterprises must<\/p>\n<p>a) embed responsible business conduct into the enterprise&#8217;s policies<\/p>\n<p>b) identify and assess actual and potential adverse impacts on fundamental human rights and decent working conditions that the enterprise has either caused or contributed towards, or that are directly linked with the enterprise&#8217;s operations, products or services via the supply chain or business partners<\/p>\n<p>c) implement suitable measures to cease, prevent or mitigate adverse impacts based on the enterprise&#8217;s prioritizations and assessments pursuant to (b)<\/p>\n<p>d) track the implementation and results of measures pursuant to (c)<\/p>\n<p>e) communicate with affected stakeholders and rights-holders regarding how adverse impacts are addressed pursuant to (c) and (d)<\/p>\n<p>f) provide for or co-operate in remediation and compensation where this is required.<\/p>\n<p>The due diligence must be carried out regularly and in proportion to the size of the enterprise, the nature of the enterprise, the context of its operations, and the severity and probability of adverse impacts on fundamental human rights and decent working conditions.<\/p>\n<p>Enterprises must publish an annual account of their due diligence assessments. The account must at minimum contain:<\/p>\n<p>a) a general description of the enterprise&#8217;s organisation, areas of operation, and policies and procedures for handling actual and potential adverse impacts on fundamental human rights and decent working conditions;<\/p>\n<p>b) information on actual adverse impacts and material risk of adverse impacts identified through due diligence; and<\/p>\n<p>c) information on measures the enterprise has implemented or plans to implement to cease actual adverse impacts or reduce material risk of adverse impacts, and the results or expected results of those measures.<\/p>\n<p>The account must be made easily accessible on the enterprise&#8217;s website, and may form part of the annual report in accordance with the Accounting Act. The enterprise must state in its annual report where the account is available.<\/p>\n<p>Any person has the right to ask the enterprise to provide information on how actual and potential adverse impacts are addressed, either in general or related to a particular product or service that the enterprise offers. The information must be provided in writing within a reasonable time and no later than three weeks after the information request is received. Where the volume or type of information requested makes it disproportionately burdensome to respond within three weeks, the information must be provided within two months of receipt of the request. In that case, the enterprise must, no later than three weeks after receipt of the request, inform the requester in writing of the extension of the deadline, the reasons for it, and when the information can be expected.<\/p>\n<p>Enterprises that do not uphold their duties in accordance with the Transparency Act, risks getting sanctions from the Norwegian Consumer Agency. Sanctions may include injunctions\/prohibitions, compulsory fine, and fine for violations.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Please describe the requirements to prepare, audit, approve and disclose annual accounts \/ annual financial statements in your jurisdiction.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>A private limited liability company shall pursuant to the Norwegian Private Limited Liability Companies Act hold an ordinary general meeting within six months following the end of each financial year of the company. At the ordinary general meeting, one of the items prescribed by law to consider and decide is the annual accounts and potential annual report, including distribution of dividend.<\/p>\n<p>The annual accounts shall be audited. There are however certain exemption rules for auditing requirements for private limited liability companies which are detailed in the Norwegian Private Limited Liability Companies Act (certain thresholds which the company must meet), and provided that the company meets the requirements for such exemption, a decision to omit auditing may be made when incorporating the company or passed by the general meeting of the company.<\/p>\n<p>The annual accounts, annual report and auditor\u2019s report shall be public and must pursuant to law be sent to the Register of Company Accounts.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Please detail any corporate \/ company secretarial annual compliance requirements?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Please refer to item 23 below.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a requirement for annual meetings of shareholders, or other stakeholders, to be held? If so, what matters need to be considered and approved at the annual shareholder meeting?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>A private limited liability company must hold an ordinary general meeting each year, within six months from the end of the company\u2019s financial year, with the following required matters to be considered and decided upon pursuant to section 5-5 of the Norwegian Private Limited Liability Companies Act:<\/p>\n<ol>\n<li>approval of the annual accounts and potential annual report, including distribution of dividend,<\/li>\n<li>other matters which pursuant to the law or the articles of association pertain to the general meeting.<\/li>\n<\/ol>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any reporting \/ notification \/ disclosure requirements on beneficial ownership \/ ultimate beneficial owners (UBO) of entities? If yes, please briefly describe these requirements.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>On 1 November 2021, the law related to identification of beneficial owners entered into force in Norway. The purpose of the new rules is to enhance transparency and to provide public authorities and AML (\u201canti-money-laundering\u201d)-reporting entities with better access to information about who actually controls entities in Norway, thereby combating money laundering, terrorist financing, and economic crime.<\/p>\n<p>A beneficial owner is a natural person who directly or indirectly owns or controls more than 25% of the shares or voting rights, or who otherwise exercises control, including through the right to appoint or remove a majority of the board members.<\/p>\n<p>The rules apply to most types of legal entities, including private and public companies, trusts, cooperatives, limited partnerships, Norwegian registered foreign businesses (NUF), etc. Such entities are required to gather and document information about beneficial owners, including size of ownership interests and the scope of voting rights. This information shall be provided to the public authorities and AML-reporting entities upon request.<\/p>\n<p>Furthermore, information on beneficial owners must be registered in the Register of Beneficial Owners, a Norwegian register identifying the natural persons who ultimately own or control a legal entity, arrangement, unit, or other association. After some delay, the Register of Beneficial Owners became available for registrations from 1 October 2024. A 10-month transitional period allowed entities sufficient time to identify and gather the necessary information, before the legal obligation to register took effect on 31 July 2025. Following this date, entities are required to register beneficial ownership information and to ensure that such information is kept up to date without undue delay and no later than 14 days of any change.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What main taxes are businesses subject to in your jurisdiction, and on what are they levied (usually profits), and at what rate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The main tax is corporate income tax that is levied on the profits of the company, which consists of business\/trading income, passive income and capital gains (with the broad exemptions outlined below). The rate of corporate income tax is 22%. Normal business-related expenses are usually deductible in the computation of the taxable income. Whether the costs are deductible in the income year they are incurred or must be depreciated over a longer period, depends on the nature of the costs. Losses can be carried forward indefinitely and can be offset against any type of income\/gain. Companies with employees are also liable for employer\u2019s contribution tax. This tax is differentiated regionally and ranges from 0 to 14,1%. Note that the employer\u2019s contribution tax is deductible as an expense when computing the company\u2019s taxable corporate income.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any particular incentive regimes that make your jurisdiction attractive to businesses from a tax perspective (e.g. tax holidays, incentive regimes, employee schemes, or other?)<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>One incentive regime is \u00abSkatteFUNN\u00bb. The purpose of this regime is to provide incentives for investments in R&amp;D. In this incentive scheme, a company can receive a tax credit of 19% of the cost related to a R&amp;D project. The tax credit of 19% is not applicable for costs above NOK 25 million per income year and certain other limitations. If the tax credit exceeds the taxpayer\u2019s tax for the income year, the difference will be paid to the taxpayer. Note that it is a requirement that the R&amp;D project has been approved by the Norwegian Research Council (\u201cForskningsr\u00e5det\u201d). Furthermore, the form in the corporate income tax return applying for the tax credit must be signed off by an auditor.<\/p>\n<p>There is also a tax incentive scheme relating to share options in startup companies. Under this incentive scheme, neither the offering nor the exercise of the option will be taxable for the employees in the share option program. That is., the taxation will take place when the employee sells the shares. There are however several requirements that must be met for the company employing the participants in the share option program. The company cannot i.e., be older than 12 years at the time of the offering of the options. Furthermore, it cannot have more than 150 full-time employees, or a balance that exceeds NOK 200m or turnover that exceeds NOK 80m. There are also restrictions as to the business activities the startup company can engage in and some other restrictions.<\/p>\n<p>Shipping companies are subject to a generous tonnage tax regime where operating income is basically exempt, and finance income is taxable at the ordinary CIT rate.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any impediments \/ tax charges that typically apply to the inflow or outflow of capital to and from your jurisdiction (e.g., withholding taxes, exchange controls, capital controls, etc.)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Domestic rules contain provisions for levying withholding taxes (\u201cWHT\u201d) on dividends, interest, and royalties. Note however that WHT on royalty and interest payments is limited to where the recipient is a related party entity tax resident in a low-tax jurisdiction. The rate of WHT is 15% for both interest and royalty payments. An exemption to this applies for residents of EEA countries that are carrying out real economic activities in the EEA state. The statutory WHT rate on dividend distributions is 25%. However, no WHT is levied on dividends paid by a Norwegian limited company to an EEA resident corporate shareholder, provided that the dividend is lawful according to company law and the shareholder carries out real economic activities in the EEA state.<\/p>\n<p>If the above-mentioned exemptions are not available, relief from WHT can be sought from tax treaties to avoid double taxation. Currently, Norway has entered into tax treaties with more than 90 jurisdictions. Most of the treaties are based on the OECD model. Through these treaties WHT on dividends, royalties and interest payments may be reduced or altogether eliminated.<\/p>\n<p>There is no branch remittance tax. Assets, etc. with hidden gains leaving Norwegian tax jurisdiction may be subject to exit taxation.<\/p>\n<p>There is no withholding tax on fees for technical services (unless a part can be deemed as royalty, see above).<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any significant transfer taxes, stamp duties, etc. to be taken into consideration?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>No significant transfer taxes are levied in Norway. Stamp duty is only levied on the direct transfer of real estate if the transfer is registered in the real estate register.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any public takeover rules?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Norwegian rules on takeover bids are stipulated in the Norwegian Securities Trading Act Chapter 6 and the Securities Trading Regulations Chapter 6. The rules implement Directive 2004\/25\/EF on takeover bids (the Takeover Directive). The obligation to make a mandatory bid is triggered by the acquisition of shares representing more than 1\/3 of the voting rights in a company listed on a Norwegian regulated market. The mandatory bid obligation is again triggered by acquisitions of shares representing more than 40 % and 50 % of the voting rights (repeat bid obligation). More information: Oslo B\u00f8rs as the Norwegian Takeover Supervisory Authority | euronext.com<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a merger control regime and is it mandatory \/ how does it broadly work?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes, there is. Companies and other business enterprises have a duty to notify the Norwegian Competition Authority of any mergers, acquisitions and agreements by which they acquire control of other companies, if the turnover of the undertakings concerned exceeds certain turnover thresholds, see Section 18 of the Norwegian Competition Act. The Act uses the term \u201cconcentrations\u201d about such mergers, acquisitions and agreements.<\/p>\n<p>A concentration must be notified to the Authority if the combined annual turnover of the undertakings concerned exceeds NOK 1 billion in Norway. However, there is no duty to notify a concentration if only one of the undertakings concerned has an annual turnover exceeding NOK 100 million in Norway. Concentrations may not be implemented before the Norwegian Competition Authority has received a notification and has finalized its review of the notified transaction (standstill obligation).<\/p>\n<p>The Norwegian Competition Act largely mirrors the EU Merger Regulation, and the Norwegian Competition Authority normally adheres to case law and guidance from the EU Courts and EU Commission.<\/p>\n<p>More information: Mergers and acquisitions &#8211; Konkurransetilsynet<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there an obligation to negotiate in good faith?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>In general, no. There is a requirement to act loyally towards contracting parties.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What protections do employees benefit from when their employer is being acquired, for example, are there employee and \/ or employee representatives\u2019 information and consultation or co-determination obligations, and what process must be followed? Do these obligations differ depending on whether an asset or share deal is undertaken?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The rights and obligations for the employer and employee differ depending on whether an asset or share deal is undertaken.<\/p>\n<p><strong>Asset deal<\/strong><\/p>\n<p>If the employee is being acquired through the sale of assets to a third party, a transfer of ownership of the undertaking is likely. Whenever there is a change of ownership of undertakings, the employees do have rights according to the EU Directive 2005\/56\/EF, which is implemented in Norwegian Law. Local Norwegian legislation defines clear obligations towards employees in the event of transfer of ownership of undertakings in the Working Environment Act of 2005 chapter 16. According to chapter 16, the new and former employer shall inform the employees\u2019 elected representatives and the employees in due time before the merger.<\/p>\n<p>As a minimum, the employees must be informed 14 days before the transfer of undertaking. The employees\u2019 elected representatives should be informed in advance so that the process will allow for minimum discussions and consultation. The information to the employees and employee elected representatives should as a minimum include the following:<\/p>\n<ul>\n<li>the reason for the transfer,<\/li>\n<li>the agreed or proposed date for the transfer,<\/li>\n<li>the legal, economic, and social implications of the transfer for the employees,<\/li>\n<li>changes in circumstances relating to collective pay agreements,<\/li>\n<li>measures planned in relation to the employees,<\/li>\n<li>rights of reservation or preference and the time limit for exercising such rights.<\/li>\n<\/ul>\n<p>Mandatory legislation does not require negotiations on the mentioned topics, but a minimum of discussions and consultations with the employee elected representatives is required. Special rules related to process, negotiations, consultation and timelines may be laid down in an applicable CBA.<\/p>\n<p>If the previous or new owner is planning measures in relation to their respective employees, such as restructuring\/changes of work\/positions, terminations etc., they shall consult with the elected representatives as early as possible on the measures with a view to reaching agreement. The timeline must allow for the employees\u2019 elected representative to do appropriate investigations.<\/p>\n<p>As a main rule, the employee is entitled to, and obliged to, be transferred to new employer if the deal is covered under the EU Directive 2005\/56\/EF. The individual rights and obligations in the contract of employment on the date of transfer shall be transferred unchanged to the new employer, cf. the Working Environment Act \u00a7 16-2 (1). An employee may object to the transfer of the employment relationship (right of reservation) to the new employer and has a minimum of fourteen days, counting from the day that the information regarding the transfer is provided, cf. the Working Environment Act \u00a7 16-3.<\/p>\n<p><strong>Share deal<\/strong><\/p>\n<p>There is no specific obligation to inform and discuss a share deal with the employees in advance, however, there is a general duty for employers employing more than 50 employees to inform and discuss issues of importance with the employees\u2019 elected representatives. A share deal could represent an issue of importance. The information to the employees\u2019 elected representatives shall be provided \u201cas soon as possible\u201d. According to case law, the consultation should already be done at the stage of planning the change. The employees\u2019 elected representatives should be allowed an \u201cappropriate amount of time\u201d to assess the information, make appropriate investigations and prepare any consultations. Normally some days are needed for submitting invitation to consultation to hold the meeting, up to maximum one week, depending on whether any of the parties are covered under a CBA.<\/p>\n<p>If the employer is covered under a CBA, the CBA may require informing the employees\u2019 elected representatives about the transfer of shares immediately after the board has certain knowledge of the transfer when the change of ownership is above a certain threshold.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Please detail any foreign direct investment restrictions, controls or requirements? For example, please detail any limitations, notifications and \/ or approvals required for corporate acquisitions.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The National Security Act of 1 January 2018 no 24 requires the notification of certain proposed transactions but is limited in scope as it only applies to entities made subject to the National Security Act by way of individual decision. Such decisions are made by the ministry responsible for the sector in which the entity in question operates.<\/p>\n<p>In 2025, the notification requirement expanded to contractors having security clearance (i.e., not only entities made subject to the Act by decision), and the rules are expected to further expand in scope in the coming years. Notifiable transactions cannot proceed to completion without approval having first been obtained from the relevant ministry, or the National Security Authority if the transaction falls outside of any ministry\u2019s jurisdiction.<\/p>\n<p>There are also many-faceted restrictions on the purchase of land, as set out in Act of 28 November 2003 no. 98 on concession to purchase land. Foreign investments in the hydro power production sector are further severely restricted under the Water Rights Act of 14 December 1917 no. 16.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Does your jurisdiction have any exchange control requirements?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Norway has no relevant exchange control requirements.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the most common ways to wind up \/ liquidate \/ dissolve an entity in your jurisdiction? Please provide a brief explanation of the process.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The dissolution and liquidation of a private limited liability company is regulated in Chapter 16 of the Norwegian Private Limited Liability Companies Act.<\/p>\n<p>A private limited liability company may be dissolved and liquidated by resolution of the general meeting of the company. The dissolution and liquidation process requires to be started by a resolution of the general meeting which must be notified and registered in the Norwegian Register of Business Enterprises, triggering a six-week creditor notice period. There are certain further obligations for the board of directors to be made during the liquidation period, which are detailed in Chapter 16 of the Norwegian Private Limited Liability Companies Act, before an audited final settlement may be presented to the general meeting. When the general meeting has resolved to approve the audited final settlement, a notification to the Norwegian Register of Business Enterprises on the final dissolution and deletion of the company from the register may be sent.<\/p>\n<p>The foregoing is only a brief and not exhaustive overview of the process, and details to be adhered to follows from Chapter 16 of the Norwegian Private Limited Liability Companies Act.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\r\n<div class=\"word-count-hidden\" style=\"display:none;\">Estimated word count: <span class=\"word-count\">8683<\/span><\/div>\r\n\r\n\t\t\t<\/ol>\r\n\r\n<script type=\"text\/javascript\" src=\"\/wp-content\/themes\/twentyseventeen\/src\/jquery\/components\/filter-guides.js\" async><\/script><\/div>"}},"_links":{"self":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide\/136886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide"}],"about":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/types\/comparative_guide"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/media?parent=136886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}