Business Formation

Deposit start-up capital in a bank

Agency: Bank

The partners need to deposit the paid-in minimum capital (at least NOK 30,000) in a bank. The procedure is done electronically through the bank’s online platform. One of the commonly used banks by private persons and business owners is DNB ASA. It’s website is The account is blocked until the company has been registered.

Time and cost: Less than 1 day (online procedure), no charge

Submit the application with the Register of Business Enterprises, file for VAT registration and file for employer registration

Agency: Register of Business Enterprises

The web-based filing system allows for electronic signature of the registration form and for the possibility to upload all attachments (i.e., copies of signed versions of the memorandum, auditor statements, and the rest) electronically.

It is still possible to file all documents manually by regular mail as well. In some cases registration inquiries cannot be filed online (i.e., mergers, some cases of increase of share capital, and so on) and must be filed by mail.

VAT registration is required when the company’s turnover has exceeded NOK 50,000. VAT cannot be charged on goods and other items before VAT registration is completed. However, in certain cases the company may register for VAT before starting business operations. The VAT registration form can be submitted at the same time as filing for company registration.

Also, the employer can submit an A-notification, after which the company will be registered in the NAV AA Registry. If the company knows it will have employees immediately after incorporation and registration with the Norwegian Registry of Business Enterprises, the company will check the box for having employees (or intending to have employees) and will thereafter receive information about submitting A-notifications. Normally the monthly submitting of A-notification will be done via the company’s payroll-system, but it can also be submitted via the electronic portal Altinn (normally for smaller companies).

Time and cost: Less than 1 day (online procedure), NOK 5570 (electronically)/ NOK 6797 (on paper)

Arrange for mandatory occupational pension plan for employees

Agency: Pension Agency

The employer must arrange for a mandatory occupational pension plan for his or her employees. The fees vary with the benefits and level of coverage in the pension plan. The minimum requirement is 2% of each employee’s salary (within average levels of salaries). Pension scheme must be established within 6 months of the date on which the obligation to have an occupational pension scheme arose.

Time and cost: 3 days, no charge

The employer enrolls in the mandatory workers’ injury insurance

Agency: Social Security Office

The employer must have a workers’ injury insurance for the employees. The insurance company is chosen by the employer.

The insurance must provide coverage for work-related injuries, regardless of whether the injury is anybody’s fault. The insurance must cover injury and illness caused by accidents at work, illness covered by the same benefits as occupational injury pursuant to the National Insurance Act, and other injury and illness caused by exposure to harmful substances or work processes.

Time and cost: 1 day (simultaneous with previous procedure), no charge