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Articles
Open a Bank Account in Norway
Updated on Friday 15th December 2017
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When an investor decides to open a company in Norway, one of his first preoccupations is the opening of a bank account, which provides a vital base for the financial transactions of the company. The requirements for opening a bank account in Norway include a list of documents which need to be presented at the bank office. Moreover there is a set of minimum conditions which need to be verified in order to benefit of an account from a Norwegian bank. Our team of Norwegian company formation consultants is ready to explain in more detail how you can conform to the local requirements and how you can easily set up a bank account in Norway.
Basic requirements for opening a bank account in Norway
If you are not a Norwegian citizen, opening a bank account might imply some bureaucracy and a longer time, unless you belong to the European Union or unless you come from one of the countries with which Norway already has good economic and financial collaborations: USA, Canada, Iceland, Japan, Switzerland, New Zealand, Singapore.
A foreign investor who intends to open a bank account with a Norwegian bank needs to know what documents are necessary in view of this procedure. One of most important requirements is to provide a Norwegian identification number, which can be acquired by a foreign investor in two weeks, based on the EEA registration or on the obtaining of a residence permit in Norway. If you don’t have a national identity number the bank may apply for one in your behalf.
Apart from this information you will need as well to present a passport and if there is the case an employment contract. The next step is to fill out the account application form provided by the bank. Another requirement is to provide a reference or a confirmation letter from your main bank through which the Norwegian bank can form a picture on the customer relationship established between you and the bank from your home country. Our consultants in company formation in Norway can guide you through this process.
Types of bank accounts in Norway
A foreign investor can open a savings account with a Norwegian bank. The condition imposed by the banks is to deposit a minimum amount of EUR 100 000 in Norwegian Kroner. If you are a resident of Norway this condition is not anymore required at the opening of a bank account.
You can easily open a current account at any bank in Norway if you already have a bank ID. A foreign investor will need as well to contact the Norwegian Tax administration in order to request an ID number which allows him to become a bank customer in Norway.
One of our specialists in company registration in Norway can offer you assistance when opening a bank acount in this country and complete company registration guidance . Don’t hesitate to contact our team for speeding up the process of bank account opening in Norway.
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