Altinn, Start and Run Business

Altinn, Start and run business

All you need to know about starting a business. About us

• All the information you need in one place. • relevant information, document templates and guides • Point of single contact • You can call us or send us questions by e-mail.

2 To days topics

• Start and run business • Am I doing business? • Do I need a license? • Which organization form is right for me? • How do I register my business in the Brønnøysund register? • How do I pay tax? • How do I register for VAT? • How do I invoice my clients? • Bookkeeping?

3 Am I doing business?

• Be of a commercial nature • Be of a certain scope • Intended to continue for a certain length of time. • Individual and random assignments don’t make you self- employed

4 Self-employed or paid employment?

• Self- employed. – You own your own operating equipment – You decide your own working hours – You retain several customers – You assume Financial risk • Employment: – you intend to work for a single client – You use the clients equipment – Your client decides when and how the job is to be done 5 Do I need a license?

• Full freedom of establishment in Norway • Some type of businesses has to have a license • Some need to be registered • Others need an authorization

6 7 To days topics

8 Which organization form is right for me?

• Sole proprietorship • Limited company • Partnership • Cooperative societies Sentrale spørsmål

9 Sole proprietorship • One owner- financially liable for • Enkeltpersonforetak all the enterprise's liabilities and obligations • You do business

• The owner decides everything to do with the enterprise. There are no separate acts of law regulating sole proprietorships. • The owner must in general be of legal age (18 years). • The owner don’t need to have a resident in Norway. However, the enterprise is required to have an address in Norway

10 Sole proprietorship

• Enkeltpersonforetak • You need a Norwegian personal number or a D- number • The business is not a separate taxable person • Fits when the financial risk is low and little investments

11 Limited Company

• Aksjeselskap • Legal entity at it’s own

• Limited personal liability

• The owners liability is limited to the share capital

• Share capital of minimum NOK 30 000,-

• Fits when the financial risk is high, employing people and you are planning to make investments.

12 Foundation of a limited company

• Memorandum of association. Articles of association. • Authorization for the board to decide that annual accounts are not to be audited. • Possible to do electronically in Altinn.

13 Online form "Foundation of a limited company".

14 How to register?

• Sole proprietorship • Limited Company- – No attachements Attachments required: • Name of the enterprise • Memorandum of association • Owner • Articles of association • Type of business activity • Confirmation from a to be carried out bank/financial institution or • Municipality and address auditor that the share capital of business premises has been paid in • General manager if the • Auditor's declaration of enterprise has one acceptance of the assignment, or minutes of a board meeting if it is decided not to have an auditor. 15 Coordinated register notification

Hvordan beregnes skatten og • Næringsdrivende betaler skatt hvor mye må jeg betale i skatt? av overskudd Hva med moms? • Organisasjonsform avgjør hvem som betaler skatt • Moms beregnes på alle ledd i omsetnings-kjeden

16 Domain name, business name and trademark • Order of registration • Domain name • Business name • Trademark

17 To days topics

18 How do I pay tax?

• Sole proprietorship • 39 - 50 % of the company surplus in the company. • Send in tax card to the tax authorities. • Pay in advance – 4 times a year

19 How do I pay tax?

• Limited Company • 25 % selskapsskatt på overskudd • 25 % skatt på utbytte • Betales etterskuddsvis

20 How do I register for VAT? • VAT on goods and services sold in Norway • Different VAT rates • VAT registration when sales of NOK 50 000 during a 12- month period • Don’t invoice VAT before you are registered in the VAT register

21 To days topics

22 How do I invoice my clients?

• Your sales documents must contain the following information: (The list is not complete) • Date • pre-printed number • The seller's name and organization number, followed by MVA • The buyer's name, address or organization number • description of the goods or service • Nature and scope • Time and place of delivery • due date for payment • VAT shall be specified in Norwegian kroner (NOK).

23 Bookkeeping

• Bookkeeping obligation • Accounting obligation • Auditing obligation • Tax return • Annual accounts and annual reports must be submitted to the Brønnøysund Register Centre

24 25 26 27 Thanks for your attention!