Start Your Business in Norway with Scandicorp

Why Norway?

A Stable, Forward-Looking Market

Norway is a stable, business-friendly country that ranks high for transparency, innovation, and ease of doing business. The government actively supports entrepreneurship and green innovation, making Norway a top destination for new ventures. With Scandicorp by your side, you’ll have a reliable partner to help you succeed.

Start your business in Norway with Scandicorp
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Key Market Opportunities

Norway’s economy is strong and diverse, with standout sectors offering significant opportunities:

Energy: Norway leads in renewable energy, especially hydroelectric and wind power. The government offers grants and tax incentives for green innovation and R&D. There is a growing market for carbon capture, storage, and export of clean energy solutions.
Seafood: As one of the world’s leading seafood exporters, Norway is renowned for sustainable aquaculture and advanced fish farming technologies. The sector benefits from strict sustainability regulations and global demand for high-quality, traceable seafood.
Maritime: Norway is a pioneer in green shipping, shipbuilding, and maritime services. The industry is investing heavily in hybrid/electric vessels and digital solutions, supported by government incentives for emission reduction and innovation.
Technology: Norway’s tech sector is expanding rapidly in areas like AI, health tech, and smart city solutions. There is strong support for startups through grants, incubators, and a highly educated workforce.

Might interest you: Market Opportunities in Norway

Advantages of Doing Business in Norway

Economic Stability: High GDP per capita and resilience to global shocks.
Business-Friendly Regulation: Transparent rules, efficient registration, and easy access to the EEA market.
Government Support: Incentives, grants, and public procurement opportunities for innovative and sustainable businesses.
Sustainability Focus: Strong commitment to green practices across all sectors.

Scandicorp’s Role

We specialise in helping businesses get started and thrive in Norway. Our team of experts in law, tax, compliance, and local business culture supports everything from small startups to large international firms. We take care of the legal and administrative details so you can focus on growth.

How to Start a Business in Norway

Choose a Business Structure

Private Limited Company (AS): The most common form, requiring a minimum share capital of NOK 30,000. At least one director (half must be EEA residents). Suitable for most businesses.
Public Limited Company (ASA): For larger or listed companies, requiring NOK 1 million in share capital and at least three directors.
Branch of a Foreign Company: For established companies expanding into Norway.

Register with the Norwegian Register of Business Enterprises.
Prepare and submit legal documents, including articles of association and shareholder information.
Scandicorp ensures your registration is accurate and timely.

Legal & Tax Compliance

Comply with Norwegian laws on tax, employment, and accounting.
Ongoing accounting and annual financial statements are mandatory; smaller companies may be exempt from audit requirements.
Scandicorp helps you stay compliant and benefit from available incentives.

Might interest you: Detailed Guide on Business Structures in Norway

Financial Setup

Corporate Taxation

The standard corporate tax rate is currently 22% (not 27%).
Most capital gains on shares and dividends received by companies are exempt from tax.
Special rules apply for sectors like petroleum and shipping.
VAT standard rate is 25%2.

Banking & Financing

Scandicorp assists with opening business bank accounts and securing funding from local banks, investors, or government programs.

Might interest you: Navigating Norway’s Taxation System for Businesses

Government Support & Incentives

Norway offers grants and tax relief for R&D, green technology, and innovation projects, especially in energy, tech, and maritime sectors.
The Norwegian Research Council and other agencies provide access to research funding and innovation networks.
SMEs and startups can access public procurement opportunities and industry clusters.

Norwegian Business Culture & Networking

Business Etiquette: Norwegians value honesty, punctuality, and clear, direct communication. Decisions are often made by consensus.
Networking: Building local relationships is vital. Scandicorp helps connect you with partners, clients, and authorities to accelerate your business.

Might interest you: Residency and Business – Living in Norway

Challenges & How Scandicorp Helps

Regulatory Complexity: Norway has strict compliance requirements, especially in regulated sectors. We guide you through every step.
High Labor Costs: The Norwegian workforce is highly skilled but comes at a premium. We advise on efficient HR strategies.
Market Entry Barriers: Understanding local culture and regulations is essential. Scandicorp provides practical, hands-on support.

Ongoing Support from Scandicorp

Once your business is up and running, we continue to support you with:

Accounting Services: Through our partners, we offer bookkeeping and financial reporting.
Legal Support: Stay up to date and compliant with local laws.
HR Support: From recruitment to contracts, we help manage your workforce.
Custom Solutions: Every business is different. We tailor our services to your needs, whether you’re a startup or expanding globally.

Frequently Asked Questions

Can foreigners start a business in Norway?

Yes. Non-residents can establish a company, but at least half of the board must be EEA residents. For branches, a local representative is required.

Do I need to live in Norway or have a Norwegian partner?

No, but you must meet the EEA residency requirement for directors. Scandicorp can provide local representation if needed.

Which sectors are best for new entrants?

Energy, seafood, maritime, and technology are the most promising sectors, especially for businesses focused on sustainability and innovation.

What government incentives are available?

There are grants, tax reliefs, and innovation programs for R&D, green technology, and export-oriented businesses.

What are the main challenges?

Navigating regulations, high labor costs, and adapting to Norwegian business culture. Scandicorp helps you overcome these with expert local support.

Contact Us for a Free Consultation

Have questions about starting your company in Norway?

Contact Scandicorp for a free initial consultation and let us help you succeed in the Norwegian market.

Start your business in Norway with Scandicorp
Download Corporate Fact Sheet