Our accounting department can take care of all of your Norwegian company bookkeeping, as well as consult about financial and tax questions. The monthly cost of bookkeeping depends on the company profile, for example on the number of transactions and payroll calculations. We can also provide the VAT registration form and assistance with its completion. Financial statements have to be submitted annually while VAT returns and social tax declarations have to be submitted monthly. We hold the official certified accountant status in Norway.

We work with several banks (e.g. Danske Bank) to ensure the most time efficient opening of a business bank account for your company in Norway. To set up the account, a board member has to be present for a face to face meeting during the first application stage. The payment card and online banking security token are received in the second stage. Our compliance team will consult on choosing the best bank for your business and provide support through the account opening process.

D-number is a number which can be assigned to foreign people who do not have a Norwegian national ID number (fødselsnummer), but need it in order to identify themselves to Norwegian authorities. It is required for company setup (in order to be appointed to the management board position) and further government services. We hold the necessary state certification to apply for a D-number on your behalf remotely.

If a company’s turnover in Norway exceeds NOK 6 million, the company will be subject to an audit requirement for the following financial year. Foreign companies that are required to keep accounts in accordance with the Norwegian Accounting Act must also appoint a Norwegian auditor (either a registered or state-authorised public accountant) for which we hold the license.

Non-resident shareholders are generally subject to a withholding tax of 25% on dividends in Norway. However, the actual withholding tax rate may be reduced or exempted under an applicable income tax treaty. Corporate shareholders based in the EU/EEA are generally exempt from withholding tax on dividends under the domestic participation exemption, subject to certain substance requirements and a comparability criterion.

Norway levies a 25% VAT rate on most goods and services. There is a 12% reduced rate on certain cultural and sporting activities, as well as transport services. A 15% reduced rate applies to foodstuff and beverages. The VAT rate for the supply of raw fish is 0% (exemption with a credit). The VAT registration threshold for taxable persons is NOK 50.000 in annual turnover.

In Norway, the employer’s social security contribution is generally 14.1% on gross earnings, although it may vary regionally for certain specific sectors. Additionally, there is a mandatory occupational pension, which is typically shared between the employer and employee, with the minimum contribution rate set at 2% of gross income for the employer.

Norway does not have a statutory minimum wage. Instead, wages are determined through collective agreements negotiated between employers and trade unions or workers’ organizations. These agreements cover most sectors, ensuring fair wage standards.