The major request before starting the business, is registering with the Register of Business Enterprises (known as “Foretaksregisteret”). The documentation for registering a branch is more complex than for registering a local company and includes the name of the foreign company and its address, a copy of the articles of association, a proof that the company is registered in the foreign country and the certificate of registration, a list with the company’s managers and secretary, the decision of opening a branch, the name of the branch and the address, the name of the appointed representative, the name of the person in charge with the registration of the branch and the activities that will be performed by the branch.
All the above must be notarized and accompanied by a Norwegian translation.
As a result, the branch is receiving a registration number and a certificate of registration. After that, the company will receive a letter with questions regarding the future activities of the branch. After completing it, the company is registered for the specific taxes and VAT.
If the branch will hire employees, is necessary to enroll at the mandatory workers’ injury insurance and the occupational pension plan.
Only when all the above steps were taken, the branch may begin the commercial activities. The whole process doesn’t take longer than ten working days if all the documents are accurate.
There is no minimum share capital required at the incorporation. The capital and the branch’s assets must be assured by the parent company.
A list with all the branch’s assets will also include the assets of the foreign company and in case of liquidation these assets can be used to cover the debts.
A Norwegian branch must pay the same taxes as a local company, with some exception in the cases where the company is from a country which has signed double tax treaties with Norway.
In this case, the withholding tax on dividends, interests and royalties may be exempt or decreased and the corporate tax on income may be credited or exempt.
If you need to set up a branch office in Norway fast and easy, we invite you to contact our experts in company registration in Norway. They will take care of the entire registration procedure so that you can start your business activities in Norway as fast as possible. Moreover, if you are interested in setting up branches in Japan, Hong-Kong or Singapore, we can put you in contact with our Asian partners.