The public limited liability company in Norway, or Allmennaksjeselskap (ASA) is one of the legal forms made available to investors through the Company Act, for the establishment of big enterprises, with many shareholders. The popularity of the ASA among foreign investors is explained by the simplicity of its registration procedure and by the advantageous liability responsibilities that it implies.
If you want to set up an enterprise in Norway you can rely on the experience that our consultants have in Norwegiancompany formation issues.
Table of Contents
Legal provisions concerning the public limited liability company in Norway
According to the Corporate Law in Norway, the public limited liability company allows a shareholder to contribute in the company only up to the amount he/she has subscribed for. Each shareholder is liable only for his/her own part in the business, after the business registration with the authorities.
The most important feature of an ASA is that it is allowed to raise capital from the public. This means that any person from the general public can buy shares in the company. If you want to find out more details concerning the particularities and the advantages of opening a Norwegian public limited liability company you can call on our experts in company registration in Norway.
We can also help foreign investors with tax legislation support. VAT registration in Norway can be quite simple for foreign companies, as they can use the services of a local tax agent. Please contact us if you need such services. Additionally, we can also offer other tax-related services, such as drafting and filing VAT and financial statements and returns. These are all part of our accounting services in Norway.
Conditions for opening a public limited liability company in Norway
In order to open a company in Norway as a public limited liability enterprise, the articles of association filed with the Business Register need to contain the key information that the company is open to the public. Moreover, the name of the company needs to be able to indicate the public status of the business, which can be marked by adding the abbreviation ASA to the denomination.
The minimum capital requirements for the opening of a public limited liability company in Norway are of one million NOK and the directors’ team needs to contain at least three members. The Norwegian legislation stipulates as well that the board and management structures need to comply with the provisions of gender representation.
Please feel free to contact our specialists in company formation in Norway in order to help you prepare the registration documentation for a public limited liability structure in this country.