Compliance and Legal Obligations for Businesses in Norway

Introduction

Norway is known for its transparent legal system and strong business environment. But to run a company successfully here, it’s important to follow the country’s compliance and legal rules. These include accounting standards, reporting deadlines, and employment laws.

At Scandicorp, we help international entrepreneurs meet all legal requirements to start a business in Norway. Whether you’re starting a small business or managing a growing company, we guide you every step of the way.

Annual Compliance Requirements for Norwegian LLCs (AS)

In Norway, most businesses are registered as a private limited company, called “Aksjeselskap” (AS). These companies have clear yearly duties:

• Prepare and file annual financial statements
• Submit a corporate tax return to the tax authority
• Hold an annual general meeting and keep board meeting minutes
• Maintain a shareholder register and update the company register when needed

These reports must be submitted to the Register of Business Enterprises and the Tax Administration.

Scandicorp helps you stay on track with these deadlines and handles all filings so you can focus on running your business.

Do Small Businesses Need an Auditor in Norway?

In Norway, not all companies need an auditor. You are exempt if your business meets these three conditions:

1. Less than NOK 5 million in yearly revenue
2. Fewer than 10 employees
3. Total assets below NOK 20 million

If you exceed these, you must appoint a licensed auditor. Even if you’re exempt, some businesses choose to have an audit for credibility.

Scandicorp can help you decide if an audit is needed and introduce you to trusted Norwegian auditors.

Employment Laws Businesses Must Follow

Hiring staff in Norway means following strong worker protection rules. Employers must:

• Provide written employment contracts
• Respect limits on working hours and overtime
• Offer paid vacation, sick leave, and parental leave
• Ensure safe workplaces and follow health and safety laws

You also need to pay social security contributions, report salaries, and withhold taxes.

Scandicorp supports you with employee onboarding, payroll setup, and HR compliance to avoid costly mistakes.

Norway’s Accounting System and Reporting Duties

Norwegian accounting rules are based on international standards (IFRS and simplified IFRS for smaller companies). Here’s what you need to know:

• Bookkeeping must be done in Norwegian or another accepted language
• Your company must keep records in NOK or another approved currency
• VAT registration is required if your revenue exceeds NOK 50,000
• VAT returns are usually filed every two months
• Annual reports must be filed within six months after year-end

If you miss deadlines, penalties apply.

Scandicorp offers full accounting services: VAT reporting, payroll, bookkeeping, and annual financial statements.

Contact Scandicorp

Doing business in Norway means staying compliant with laws around accounting, taxes, and employment. The rules are clear, but managing them can take time and local knowledge.

With Scandicorp, you don’t have to do it alone. We help you navigate every legal and financial obligation, so your company stays safe, stable, and ready to grow.

Contact Scandicorp today to get expert support for your business in Norway.