| LLC | PLC | Free Zone Company | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | Aksjeselskap | SAS | Frihandelsselskap | Utenlandsk Foretak | Representasjonskontor |
| Company Setup Time | 15 days | 20 days | 20 days | 25 days | 25 days |
| Bank Account Opening | 5 days | 5 days | 5 days | 5 days | 5 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Limited Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Norway Limited Liability Company (AS)
- For this entity, it is required to make a minimum contribution of NOK30, 000 (€ 3,100) in share capital. A minimum of two directors must be appointed to reside in Norway or any other country within the European Economic Area.
- Norway LLCs are needed to appoint a statutory auditor during the incorporation and submission of audited financial statements on an annual basis.
- If there are more than 30 employees, one director must be nominated by the employees. If more than 50 employees are employed, both sexes should be represented on the board of the company.
Norwegian Public Limited Company (ASA)
- A PLC in Norway can be incorporated by an individual shareholder without restrictions on nationality and residence. It is required to contribute at least € 110,000 (NOK 1 million) to the shares of the company. Nominate at least three directors, two of whom must be residents of the country.
- PLCs in Norway are required to have a statutory auditor at the time of incorporation and to submit audited annual financial statements. Norwegian law requires that at least 1 director be nominated by the members if there are more than 30 employees. Both sexes are also required to be represented on the board of directors of the company if more than 50 employees are employed.
European Stock Corporation (Societas Europaea)
- Two EEA-based companies can choose to merge as a European Stock Exchange Corporation. A minimum share capital of at least € 120,000 will be required. The main advantage is the simplification of the establishment of a complex network of subsidiaries in accordance with different national legislation.
Norway branch
- Foreign companies are allowed to set up branch offices. The scope of the operation is defined by the parent company. The branch must have an independent management team consisting of one representative who resides in the country. It is also obliged to submit audited financial statements on an annual basis.