DOCSLIB.ORG

Norway Subsidiary

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Norway Subsidiary Norway Subsidiary Before you can hire employees or set up your payroll, you’ll need to set up a Norway subsidiary or find a subsidiary alternative. Every country differs on the time and resources required for each step, but opening your business and hiring employees can take up to a few months when setting up a subsidiary on your own. Instead, Globalization Partners offers a better, comprehensive solution with our Employer of Record model. We’ll help you hire employees and run payroll without establishing a subsidiary first. We’ll also take on all matters of compliance so that you can stay focused on your business goals. How to Set up a Norway Subsidiary Choosing to set up a Norway subsidiary is not a decision you should take lightly. Therefore, you’ll need to consider a variety of factors before you decide to expand to Norway, such as the business environment, location, and language. Your type of business and existing business relationships can play a role in whether you want to open a subsidiary in Norway and where you should locate your headquarters. Different regions and cities often have their own rules, costs, and microcultures. If you do not know the Norway area well, it’s best to work with a consulting agency or other professionals who can help you figure out the best location for your business. Around 95% of the population speak Norwegian while 90% speak English. If you do not know Norwegian, you should hire a translator or employees who are fluent in the language and who can talk to clients. The most common Norway subsidiary structure is a private limited liability company known as an Aksjeselskap (AS). The Norway subsidiary setup process for an AS is as follows: Deposit your startup capital at the bank Register with the Register of Business Enterprises File for VAT registration © 2021 Globalization Partners. All Rights Reserved. Terms of Service | We respect your privacy Norway Subsidiary | 1 Norway Subsidiary Arrange mandatory occupational pension plans for employees in a pension agency Enroll in mandatory workers’ injury insurance Norway Subsidiary Laws Over the last few years, Norway has made its subsidiary laws less complex. In 2013, the country reduced the minimum capital requirement for private joint stock companies. In 2015, they eliminated the need for limited liability companies to have their balance sheet examined by an external auditor if they pay the capital in cash. Norway subsidiary laws then took a big leap in 2016 with the introduction of online government and bank account registration services. If you decide to set up a limited liability company, you’ll need a minimum of 30,000 NOK in share capital. You’ll also need a minimum of two directors, one of whom needs to be a Norwegian or European citizen. Benefits of a Norway Subsidiary The most significant benefit of a limited liability subsidiary is its relationship to the parent company. A subsidiary can operate independently, saving the parent company from any substantial losses or costly litigation. This independent nature also allows you to choose what kind of workplace culture you want to promote in your subsidiary, as it can be different than the parent company and tailored to Norway’s laws and customs. You can enjoy these same benefits and more with Globalization Partners. As an alternative to establishing a Norway subsidiary, we will hire employees for your team and get them set up on our payroll in a few days, so you can avoid the stress of setting up a Norway subsidiary. We know Norway’s subsidiary laws front to back and will handle all matters of compliance. What Do You Need? If you are ready to expand into Norway, you should prepare for everything you need to set up a subsidiary. To start, you must set aside a significant amount of money and time. You will © 2021 Globalization Partners. All Rights Reserved. Terms of Service | We respect your privacy Norway Subsidiary | 2 Norway Subsidiary need to invest a certain amount of capital and possibly pay fees throughout the process. Plus, you should consider the expenses of traveling to Norway and back. If you don’t choose an alternative to establishing a Norway subsidiary, you will have to devote time to learning the country’s subsidiary laws or hire someone who is an expert in multiple fields. Instead, Globalization Partners offers a better option. Work With Globalization Partners The best alternative to establishing a Norway subsidiary is working with Globalization Partners. We’ll get you started faster and take the stress out of worrying about compliance. Contact us today to learn more. © 2021 Globalization Partners. All Rights Reserved. Terms of Service | We respect your privacy Norway Subsidiary | 3.
Load more

Recommended publications
  • Del 1 – Hovedblankett
    Samordnet registermelding Del 1 – Hovedblankett for registrering i Enhetsregisteret, Foretaksregisteret, Merverdiavgiftsregisteret, NAV Aa-registeret, SSBs Bedrifts- og foretaksregister, Stiftelsesregisteret og Skattedirektoratets register over upersonlige skattytere 1. Navn/foretaksnavn 1.1 Enhetens fullstendige navn/foretaksnavn (fylles alltid ut) Organisasjonsnummer: ı ı ı ı ı ı ı ı ı ı 1.2 Eventuelt nytt navn/foretaksnavn. For enheter registrert i Foretaksregisteret er navne-/foretaksnavneendringen gebyrbelagt 1.3 Eget navn på virksomheten (oppgis bare hvis selve virksomheten drives under et annet navn enn enhetens fullstendige navn/foretaksnavn) 2. Meldingen gjelder 2.1 Enhet som ikke er registrert tidligere 2.3 Beslutning om (enhet som ikke har eget organisasjonsnummer) oppløsning av enhet Ved kjøp, salg eller nedleggelse > av virksomhet må felt 9 og 10 2.2 Endringer/nye opplysninger 2.4 Sletting av enhet fylles ut. (fyll bare ut de felt endringen gjelder) 3. Registrering i andre registre (i tillegg til registrering i Enhetsregisteret) 3.1 Skal enheten registreres i Foretaksregisteret? Nei Ja > Se veiledningen om registrerings- Det er gebyr på registreringen. rett/-plikt i Foretaksregisteret. 3.2 Har virksomheten omsetning som kommer inn under Nei Ja > Hvis ja, sender du inn blankettens merverdiavgiftslovens bestemmelser? del 2 når beløpsgrensen er nådd. Se egen veiledning for del 2. 3.3 Enheten - har eller venter å få arbeidstakere Nei Ja - betaler/skal betale andre enn arbeidstakere Nei Ja vederlag som det skal betales arbeidsgiveravgift > Hvis ja, får du nærmere informasjon av etter folketrygdloven § 23-2 tilsendt. 3.4 Har eller venter enheten å få virksomhet på flere adresser? Nei Ja 4. Hovedkontorets adresse (forretningsadresse/besøksadresse) Gate, husnummer eller sted Postnummer Poststed Kommune Land Telefonnummer Telefaksnummer Mobiltelefonnummer Hjemmeside 5.
    [Show full text]
  • Doing Business in Norway
    Doing Business in Norway 2020 Edition 1 Norway • Hammerfest • Tromsø 5.4 million Population • 119th most populous country on earth Constitutional monarchy Form of government • Constitution day: 17 May • Head of State: King Harald V • Prime Minister: Erna Solberg, conservative • Member of the EEA from 1 January 1994 • Member of the EU: No Oslo Capital of Norway • 5 regions • Highest mountain: Galdhøpiggen 2,469 m. • Largest lake: Mjøsa 365 sq.m. • The distance from Oslo to Hammerfest is as far as from Oslo to Athens Gross domestic product ca. NOK 3300 billion Economy • Trondheim • Currency: Krone (NOK) • GDP per capita: ca. NOK 615,000 • The largest source of income is the extraction and export of subsea oil and natural gas • Bergen Norway • Oslo • Stavanger ISBN2 978-82-93788-00-3 3 Contents 8 I Why invest in Norway 11 II Civil Law 23 III Business Entities 35 IV Acquisition Finance 43 V Real Estate 59 VI Energy 69 VII Employment 83 VIII Tax 103 IX Intellectual Property 113 X Public Procurement 121 XI Dispute Resolution 4 5 Norway is known for nature attractions like fjords, mountains, northern lights and the midnight sun. Because of the Gulf Stream, Norway has a friendlier climate than the latitude indicates, leaving it with ice-free ports all year round. The Gulf Stream is a warm ocean current leading water from the Caribbean north easterly across the Atlantic Ocean, and then follows the Norwegian coast northwards. 6 7 I. Why invest in Norway In spite of being a small nation, Norway is a highly developed and modern country with a very strong, open and buoyant economy.
    [Show full text]
  • The Limited Liability Company: Lessons for Corporate Law
    THE LIMITED LIABILITY COMPANY: LESSONS FOR CORPORATE LAW JONATHAN R. MACEY· INTRODUCTION Legal scholarship examining the recent emergence of the limited liability company has primarily focused on the legal treatment of these entities. l A successfully formed limited liability company is a noncorporate entity that provides its owners with protection against liability for enterprise obligations, as well as the pass-through tax treatment traditionally associated with partnerships and Subchapter S corporations. At the same time, the limited liability company form allows investors to remain actively involved in the management of the enterprise. The purpose of this Article is different. Rather than exploring whether (or how well) the limited liability companies achieve their common intended purpose of reducing the contract, tort and tax liabilities of their investors, this Article explores the implications of the emergence of the limited liability company for our understanding of corporate law. What does the modem emergence of the limited liability company tell us about the state ofAmerican corporate law? This Article argues that the emergence of the limited liability company has much to tell us about a variety of important topics in corporate law, particularly the reasons for requiring fonnal incorporation, jurisdictional competition for corporate charters, the costs and benefits oflimited liability, and the structural problems that may hamper sweeping reform ofcorporate and tort law rules affecting enterprise and investor liability. This Article begins with a brief discussion of the limited liability company. The second part of the Article discusses the features that may * J. DuPratt White Professor of Law, Cornell University, and Director, John M.
    [Show full text]
  • Form 8832 (Rev. December 2013)
    Form 8832 (Rev. 12-2013) Page 4 General Instructions Domestic default rule. Unless an election is entity classification election sought under made on Form 8832, a domestic eligible entity Revenue Procedure 2010-32, is filed and Section references are to the Internal is: attached to the amended tax returns. See Revenue Code unless otherwise noted. 1. A partnership if it has two or more Rev. Proc. 2010-32, 2010-36 I.R.B. 320 for Future Developments members. details. For the latest information about developments 2. Disregarded as an entity separate from Definitions related to Form 8832 and its instructions, its owner if it has a single owner. such as legislation enacted after they were Association. For purposes of this form, an published, go to www.irs.gov/form8832. A change in the number of members of an association is an eligible entity taxable as a eligible entity classified as an association corporation by election or, for foreign eligible What's New (defined below) does not affect the entity’s entities, under the default rules (see For entities formed on or after July 1, 2013, classification. However, an eligible entity Regulations section 301.7701-3). the Croatian Dionicko Drustvo will always be classified as a partnership will become a Business entity. A business entity is any treated as a corporation. See Notice 2013-44, disregarded entity when the entity’s entity recognized for federal tax purposes 2013-29, I.R.B. 62 for more information. membership is reduced to one member and a that is not properly classified as a trust under disregarded entity will be classified as a Regulations section 301.7701-4 or otherwise Purpose of Form partnership when the entity has more than subject to special treatment under the Code An eligible entity uses Form 8832 to elect one member.
    [Show full text]
  • I Godt Selskap? Statlig Eierstyring I Teori Og Praksis
    Rapport 1998:21 I godt selskap? Statlig eierstyring i teori og praksis Forord Den norske staten eier flere store og mindre selskaper. Selskapene driver ulike former for forretnings- eller næringsvirksomhet, men mange av dem ivaretar også viktige samfunnsmessige oppgaver innen ulike sektorer. Flere tidligere forvaltningsorganer er blitt omstilt til selskaper de siste årene, og andre kan bli endret. Departementene er ansvarlige for å utøve eierstyringen av selskapene og har en viktig rolle i omdanning fra forvaltningsorgan til selskap. I Norge har vi imidlertid flere ulike statlige selskapsformer: statsaksjeselskaper, statsforetak og selskaper som er organisert etter egen lov - særlovsselskaper. Statens ansvar som eier er i utgangspunktet noe forskjellig, avhengig av hvilken selskapsform som er valgt. Selskapsformen skal også avspeile i hvilken grad selskapets virksomhet skal ivareta viktige samfunnsmessige oppgaver eller om det i hovedsak skal drive forretning. Det er derfor viktig med mer kunnskap om likheter og forskjeller mellom selskapsformene og om mulige konsekvenser av valg av selskapsform. Statskonsult har satt i gang flere prosjekter for å kunne øke kunnskapen om endringer av forvaltningsorganer til selskaper og om organiseringen og styringen av selskapene. Formålet med dette er å kunne bidra i utviklingen av forvaltningspolitikken og å bistå departementene med råd i forbindelse med eventuelle omstillinger av virksomheter. Rapporten baserer seg på kartlegging og analyse av 19 heleide statlige selskaper og to selskaper der staten eier mer enn 50 %. Dette utgjør alle statsforetak og særlovsselskapene, unntatt fond, samt de fleste heleide statlige aksjeselskapene. Statskonsult skal benytte resultatene til sitt arbeid med utvikling av forvaltningen. Men vi håper at departementer, statlige selskaper og andre virksomheter kan ha nytte av rapporten i forbindelse med omstillinger og i utøvelsen av eierstyringen.
    [Show full text]
  • Limited Liability Entities (DE 231LLC)
    LIMITED LIABILITY ENTITIES The purpose of this information sheet is to explain Section 675 of the CUIC, the employing unit becomes California’s payroll tax* treatment of the following types of an employer when it employs one or more employees limited liability entities: within California and pays wages in excess of $100 during any calendar quarter. Refer to Information • Limited Liability Company (LLC) Sheet: Employment (DE 231). • Limited Partnership (LP) • Limited Liability Partnership (LLP) • For California Personal Income Tax (PIT) purposes, • Limited Liability Limited Partnership (LLLP) Section 13005(a) of the CUIC specifically includes an LLC as an employer subject to withholding PIT Each of the above business entity types is created when it and reporting PIT wages for its California employees. formally organizes and registers as required by the laws of (For residents performing services within or without the jurisdiction where the organization is formed. They are California, or nonresidents performing services within classified as either domestic or foreign entities. Domestic California, refer to Information Sheet: Multistate entities are those organized in California under the Employment [DE 231D].) California Corporations Code. Foreign entities are organized under the laws of jurisdictions other than California. Before California Payroll Taxes for LLC Members transacting business in California, the foreign entities must first register with the California Secretary of State. Generally, the Internal Revenue Service (IRS) and the Franchise Tax Board (FTB) treat an LLC as a sole LLC ENTITIES proprietorship, partnership, or corporation, depending on the circumstances. However, the CUIC requires the An LLC is a hybrid entity that combines the liability Employment Development Department (EDD) to treat the protection of a corporation with the benefit of pass-through LLC as a unique entity type, instead of classifying it as a taxation of a partnership or sole proprietorship.
    [Show full text]
  • Establishing and Managing a Company
    ESTABLISHING AND MANAGING A COMPANY 5.1 Corporate Structures ........................................................ 59 5.2 Accounting ........................................................................ 63 5.3 Auditing ............................................................................. 63 5 5.4 Establishing A Company .................................................. 64 Image Signing a contract, studio shot Establishing a company can be done quickly and easily. 5.1 CORPORATE STRUCTURES Economic freedom, which is guaranteed under the Swiss Consti­ Numerous official and private organizations assist tution, allows anyone, including foreign nationals, to operate a entrepreneurs in selecting the appropriate legal form for business in Switzerland, to form a company or to hold an interest in one. No approval by the authorities, no membership of chambers of their company and can provide advice and support. commerce or professional associations, and no annual reporting of The federal government’s various websites offer a wide operating figures are required to establish a business. However, foreign nationals must have both work and residence permits in range of information on all aspects of the company order to conduct a business personally on a permanent basis. formation process – from business plan to official Swiss law distinguishes between the following types of business regis tration. entities: partnership­type unincorporated companies (sole proprietorship, limited partnership or general partnership) and capital­based incorporated
    [Show full text]
  • Limited Liability with One-Man Companies and Subsidiary Corporations
    LIMITED LIABILITY WITH ONE-MAN COMPANIES AND SUBSIDIARY CORPORATIONS Bm Nmw F. CATALDO* Limited liability, usually regarded as the most significant feature of corporate enterprise, has received extravagant praise. Among those who have paid verbal homage to the concept of limited liability are two former university presidents who cut a large figure in the intellectual manners of the nation during the last half century. President Eliot of Harvard regarded limited liability as "the corporation's most precious characteristic" and "by far the most effective legal invention ... made in the nineteenth century."' President Nicholas Murray Butler of Columbia made the pronouncement in i91: "I weigh my words when I say that in my judg- ment the limited liability corporation is the greatest single discovery of modern times.... Even steam and electricity are far less important than the limited liability corporation, and they would be reduced to comparative impotence without it."' Our courts have rested-unnecessarily, it is believed 3 -the concept of limited lia- bility on the legal entity theory. This theory, familiar to every elementary student of corporation law and finance, treats the corporation as a legal persona or juristic person constituting an entity in itself separate and distinct from the members. The essence of this theory, stated in stark terms, is that the shareholders own "the corporation" and the latter owns and operates the assets and the business. The questionable4 but judicially accepted reasoning which regards limited liability as a * A.B. 1929, LL.B. 1932, LL.M. 1936, University of Pennsylvania. Member of Philadelphia bar; Special Attorney, Department of Justice, Washington, D.
    [Show full text]
  • International Swaps and Derivatives Association, Inc. 10 East 53Rd Street
    International Swaps and Derivatives Association, Inc. Oslo, 23 October 2018 10 East 53rd Street, 9th Floor Lawyer in charge: NEW YORK NY 10022 Kaare P. Sverdrup United States of America ("ISDA") LEGAL OPINION Dear Sirs, VALIDITY AND ENFORCEMENT OF COLLATERAL ARRANGEMENTS UNDER THE ISDA CREDIT SUPPORT DOCUMENTS UNDER NORWEGIAN LAW — COLLATERAL TAKER INSOLVENCY 1. INTRODUCTION (a) We refer to your email of 19 September 2018 in which we were requested to provide you with a collateral taker insolvency opinion - validity and enforceability under Norwegian law of collateral arrangements under the following ISDA documents: (i) the 2002 ISDA Master Agreement (the "2002 Master Agreement"); (ii) the 1992 ISDA Multicurrency-Cross Border Master Agreement (the "1992 Master Agreement"); (iii) the 2016 Phase One Credit Support Annex for Initial Margin (IM) governed by New York law (the "IM NY Annex"); (iv) the 2016 Phase One IM Credit Support Deed, governed by English law (the "IM Deed", and together with the IM NY Annex, the "IM Security Documents"); (v) the 2018 ISDA Euroclear Security Agreement subject to Belgian Law (the "2018 Euroclear Security Agreement"); (vi) the 2018 ISDA Euroclear Collateral Transfer Agreement Subject to New York Law (Multi-Regime Scope) (the "2018 Euroclear NY CTA"); (vii) the 2018 ISDA Euroclear Collateral Transfer Agreement Subject to English Law (Multi-Regime Scope) (the "2018 Euroclear English CTA"); (viii) the 2017 ISDA Euroclear Collateral Transfer Agreement Subject to English Law (Multi-Regime) (the "2017 Euroclear English CTA"); Advokatfirmaet Wiersholm AS Dokkveien 1 i PO Box 1400 Vika, NO-0115 Oslo I T. +47210 210 001 wiersholm.no Bank Account No: 6011.0543908.
    [Show full text]
  • Differences Between Joint Stock and Limited Liability Companies in Turkey
    PART 4 BY ELİF ECE CESUR | [email protected] DIFFERENCES BETWEEN JOINT STOCK AND LIMITED LIABILITY COMPANIES IN TURKEY he new Turkish Commercial Code (NTCC) tthat came into force on July 1st 2012 conveyed important changes to businesses and company law. Apart from providing general information on joint stock and limited liability companies, this article aims to set out the innovation transported by the NTCC and distinguish the two types of corporations. Turkish Joint Stock Company (Anonim Șirket), is a corpo- ration that has a title, with a certain capital, divided into shares that is only liable to its creditors with its assets. Both types of corporations are classed as stock corpora- tions although Turkish joint stock companies are typical stock corporations with legal identity and title1. Com- pany capital is registered and divided into shares. All the debts and obligations owed to third parties are owed by the company itself, not by the members or directors. Joint stock company is only liable to its creditors with its assets; members’ liability is limited to the value of their shares. Company could be established for all kinds of commercial purposes that are not restricted by law. It has its own legal identity separate from that of the human beings who are involved in the company. There is a transferability of own- ership, shares can easily be bought and sold. This provides for small capital to come together to form large funds and undertake greater business that would not be possible otherwise. Turkish Limited Liability Company (Limited Șirket) is formed by one or more real or legal persons gathering under a commercial title.
    [Show full text]
  • HARMONIZED REVISED UNIFORM LIMITED LIABILITY COMPANY ACT (Amendments to Revised Uniform Limited Liability Company Act)
    D R A F T FOR DISCUSSION ONLY HARMONIZED REVISED UNIFORM LIMITED LIABILITY COMPANY ACT (Amendments to Revised Uniform Limited Liability Company Act) NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS For January 28-30, 2011 Drafting Committee Meeting on Harmonization of Business Entity Acts Without Prefatory Note and with Reporters’ Notes Strike and Score Version COPYRIGHT © 2011 By NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS The ideas and conclusions set forth in this draft, including the proposed statutory language and any comments or reporter’s notes, have not been passed upon by the National Conference of Commissioners on Uniform State Laws or the Drafting Committee. They do not necessarily reflect the views of the Conference and its Commissioners and the Drafting Committee and its Members and Reporter. Proposed statutory language may not be used to ascertain the intent or meaning of any promulgated final statutory proposal. January 7, 2011 DRAFTING COMMITTEE ON HARMONIZATION OF BUSINESS ENTITY ACTS The Committee appointed by and representing the National Conference of Commissioners on Uniform State Laws in preparing this Act consists of the following individuals: HARRY J. HAYNSWORTH, 2200 IDS Center, 80 S. 8th St., Minneapolis, MN 55402, Chair WILLIAM H. CLARK, One Logan Square, 18th and Cherry Sts., Philadelphia, PA 19103-6996, Vice-Chair ANN E. CONAWAY, Widener University School of Law, 4601 Concord Pike, Wilmington, DE 19803 THOMAS E. GEU, University of South Dakota School of Law, 414 Clark St., Suite 214, Vermillion, SD 57069-2390 DALE G. HIGER, 1302 Warm Springs Ave., Boise, ID 83712 JAMES C. MCKAY, Office of the Attorney General for the District of Columbia, 441 Fourth St.
    [Show full text]
  • Doing Business in Saudi Arabia 2017
    Doing Business in Saudi Arabia 2017 An Outline of Various Forms of Doing Business in Saudi Arabia 2016 An Outline of Various Forms of Doing Business in Saudi Arabia 2017 An Outline of Various Forms of Doing Business in Saudi Arabia Table of Contents Limited Liability Company ..................................................................................................................... 1 1. General ................................................................................................................................ 1 2. Features of a Saudi Arabian Limited Liability Company .................................................... 1 3. Advantages .......................................................................................................................... 2 4. Disadvantages ...................................................................................................................... 2 Branch ..................................................................................................................................................... 3 1. General ................................................................................................................................ 3 2. Advantages .......................................................................................................................... 3 3. Disadvantages ...................................................................................................................... 3 Technical Scientific Services Office (“TSO”) .......................................................................................
    [Show full text]