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Wealthy Nordic nation with strong oil/energy sector
Region
WESTERN EUROPE
Corporate Tax
22%
Setup Time
1 weeks
Currency
NOK
Norway, among the world's wealthiest nations, combines vast energy resources with exceptional governance. The country's company registration framework supports business setup for quality-focused operations, though the regulatory burden reflects high standards.
With a population of 5.5 million, Norway offers extraordinary quality of life with dramatic fjord landscapes. Norwegian is official, with excellent English proficiency. The climate is cold, with Arctic conditions in the north.
Healthcare is excellent through the public system. Safety is outstanding with minimal crime. The cost of living is among world's highest.
The outdoor culture, work-life balance, and social services create attractive lifestyle despite costs.
Corporate tax rate stands at 22%. Personal income tax reaches approximately 47% including social security. VAT applies at 25% standard rate. The tax burden is substantial but supports comprehensive services.
The Norwegian krone is freely traded but volatile with oil prices. EEA membership provides EU market access without EU membership. The energy sector drives significant activity.
Company registration through the Brønnøysund Register Centre is efficient. The AS (private limited company) is the standard vehicle. Foreign ownership faces no restrictions.
Company formation takes approximately 1-2 weeks. Minimum share capital is NOK 30,000 for AS. At least one director must be EEA-resident typically. Annual compliance includes audited accounts for larger companies.
The Financial Supervisory Authority registers virtual asset service providers. Norway implements EU-aligned regulations through EEA membership without being an EU member.
Gambling operates under state monopoly through Norsk Tipping. Private gambling license opportunities do not exist. Online gambling from foreign operators is prohibited but enforcement is limited.
High labor costs and operating expenses suit high-value operations. The small domestic market requires export focus. Energy sector expertise creates opportunities in that specialization.
Banking access is excellent. Professional services are high quality.
Norway suits energy sector operations, high-value services, and quality-focused businesses comfortable with Nordic costs for their business setup.
Local: AS
Local: ASA
Local: NUF
| Corporate Tax Rate | 22% |
| Personal Income Tax Rate | 47.4% |
| VAT / Sales Tax | 25% |
| Capital Gains Tax | 22% |
| Withholding Tax | 25% |
| Reduced Corporate Tax Available | No |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | HIGH |
| Financial Privacy | LOW |
| Currency Controls | NONE |
| Local Bank Account Required | Yes |
| Non-Resident Bank Account Allowed | Yes |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $125,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | EU Transfer of Funds Regulation (TFR) Travel Rule |
| Business Plan Required | Comprehensive business plan, ICT security documentation, governance and risk management framework |
| Personnel Required | Management body with fit and proper assessment, AML compliance officer, at least one EEA-resident director |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | https://www.finanstilsynet.no/en/ - FSA public register of authorized entities |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Finanstilsynet (Financial Supervisory Authority of Norway) |
| Licensing Fee | $5,000 |
| Licensing Fee Details | MiCA CASP license application fee approximately NOK 50,000; ongoing supervision fees based on turnover |
| Permitted Business Models | Exchange, Custody, Trading Platform, Brokerage, Advisory, Portfolio Management |
| Permitted Activities | Crypto-to-fiat exchange, crypto-to-crypto exchange, custody and administration, order execution, placement, transfer services, advisory services |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | No |
| Derivatives Allowed | Yes |
| RWA Tokenization Allowed | Yes |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $0 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Not applicable - state monopoly system; no private operator licensing available |
| Personnel Required | Not applicable - only state-owned entities operate gambling |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | No |
| Registry Public | No |
| Registry Access | Lottstift maintains register of lottery permits |
| Renewal Period | N/A |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Lotteritilsynet (Norwegian Gambling Authority), Ministry of Culture and Equality |
| Licensing Fee | $0 |
| Licensing Fee Details | No private licensing available; state monopoly system. Norsk Tipping (lotteries, sports betting), Norsk Rikstoto (horse racing), licensed charities for certain lotteries only. |
| Permitted Business Models | State Monopoly, Charitable Lotteries Only |
| Permitted Activities | State operators: lotteries, sports betting, online casino (restricted), horse racing betting. Licensed charities: limited raffles and small lotteries. |
| Restricted Activities | All private commercial gambling operations prohibited; online gambling from foreign operators banned and actively blocked |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | No |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | No |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $125,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant; EEA-aligned under PSD2/EMD2 |
| Business Plan Required | Comprehensive 3-year business plan, operational procedures, ICT security framework, recovery and exit plans |
| Personnel Required | At least 2 directors (majority EEA residents), fit and proper assessed management, AML officer, compliance officer |
| Insurance Required | Yes |
| Insurance Details | Professional indemnity insurance or comparable guarantee required for safeguarding client funds |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 2 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | https://www.finanstilsynet.no/en/ - FSA public register of licensed institutions |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Finanstilsynet (Financial Supervisory Authority of Norway) |
| Licensing Fee | $0 |
| Licensing Fee Details | PI license: €125,000 minimum capital; EMI license: €350,000 minimum capital; application fees and annual supervision fees apply based on institution size |
| Permitted Business Models | Payment Institution (PI), E-Money Institution (EMI), Investment Firm |
| Permitted Activities | Payment services, e-money issuance, fund storage, money transfers, payment initiation, account information services |
| Restricted Activities | Banking activities without separate banking license; deposit-taking restricted to banks |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |