A sole proprietorship is a basic form of business. The entrepreneur is liable for the gains and losses. It may not be registered at the Central Coordinating Register for Legal Entities, if it doesn’t buy products for resale and have less than five employees, but it is advised to do that (it’s free anyway), in order to receive an organization number. Many suppliers ask for this organization number. A sole proprietorship may be changed into a limited liability company if the required criteria are met. Our experts in company registration in Norway can help you change your business structure
The public limited liability company (Allmennaksjeselskap) in Norway is based on a higher share capital, with transferable shares unlike the private limited liability company. The minimum share capital required is 1 mil. NOK (370,000 EUR). The shareholders are liable for the debts and earns in the limit of their contribution.
The partnerships are types of Norwegian companies that are based on company assembly signed by the owners and registered at the Register of Business Enterprises. This agreement must contain the following information: the name of the company, names and addresses of the liable partners, if there are capital investments, the role of the company, the address of the headquarters. A main characteristic of the partnership is that it doesn’t require a minimum share capital.
The general partnership (Ansvarlig selskap) registered in Norway must be formed by at least two active owners with unlimited liability for all the debts.
The limited liability partnership (Delt ansvar) is formed by two or more partners with different statuses. There are the active partners with unlimited liability and the silent partners with limited liability according to their contribution.
A branch can be set up in Norway with no minimum share capital required. The requested data at incorporation is: the certificate of registration of the parent company, the memorandum of association and the articles of incorporation of the parent company, the minute of the meeting when the decision of opening a subsidiary was taken, the name of the Norwegian branch responsible and the address of the branch headquarters. This document must be drawn in Norwegian.