Norway is a Scandinavian country, located in north-western Europe. Norway is not a member of the European Union (EU), however, it is a member of the European Economic Area (EEA), the European Free Trade Area (EFTA), and it is also a part of the Schengen Area.

Norway has a stable economic and political situation which makes it the perfect place for entrepreneurs to format their companies. Norway is a great place for businesses associated with the processing of fish as well as entertainment centers and travel agencies.

Description of Norway Limited Liability Company:

• Liability limited only to shares;
• The company can have one shareholder and two or more directors;
• The share capital must be divided into one or more shares of which the rights attach to the shareholder. All shares must have the same face value;
• All shares carry equal rights in the company;
• At least 50 % of the board members must reside in Norway or another EEA country.

Norway has a high standard of living and one of the highest GDP’s per capita in the world. This and its low levels of corruption, makes Norway a great destination for investors and foreigners who wish to start up a business.

• Tax Regulations:

Reducing the tax burden for businesses operating internationally, Norway has engaged in double tax treaties with various nations.

• Stability in Economy:

Highlighted by robust education, innovation, technology, and a sustainable business sector, Norway boasts one of the world’s strongest economies, fostering a secure environment for company establishment.

• Business Culture:

With strong Scandinavian values, Norway’s business ethos champions an almost non-existent hierarchical work environment, ensuring equal opportunities irrespective of gender, race, or any other discriminatory factors.

• Corporate Income Tax (CIT):

The general assessed rate for CIT in Norway stands at 22%. However, some companies within the financial sector might face a 25% rate. CIT becomes taxable when the right to receive income arises.

• Value Added Tax (VAT):

Norway maintains a standard VAT rate of 25%. Certain products qualify for reduced VAT rates, while others enjoy a zero-rated VAT.

• Withholding Tax (WHT):

Norway imposes WHT on dividends. Normally, Norwegian companies apply a 25% withholding tax on share dividends. However, foreign shareholders might qualify for a lower withholding tax rate.