Setting up a business in Norway as a foreigner implies choosing a legal structure and incorporating it, in accordance with the local rules. However, the procedures to keep it running are also important, as they will ensure its success in the long term.
Our Norwegian company formation specialists have detailed the business registration procedures in many articles. This is why we will now present what it entails to run an enterprise and the most important aspects to consider while doing so.
| Quick Facts | |
|---|---|
| Fastest way to start a business in Norway as a foreigner | Incorporation of private limited liability companies. |
|
Time frame to register a business in Norway |
3 to 4 weeks. |
|
Composition of the business registration costs |
– documents drafting and notarization, – registration and licensing fees. |
| Maintenance costs |
– office, – utilities, – accounting fees, – employment costs. |
| Special costs/fees to consider (if any) |
Recurrent licensing renewal fees. |
| Bureaucracy |
Interaction with authorities is at national, regional, and local levels. |
| Availability of online business administration services (YES/NO) |
Yes. |
| Corporate tax rate |
22%. |
| Particularities of the workforce |
The workforce is predominantly local and skilled, gender equality prevails, and it benefits from a strong work-life balance. |
| Social contributions to pay as an employer | 0% to 14% per gross salary, depending on the region the company operates in. |
| Best performing industries |
– oil and gas, – fishing, – hydropower. |
| Possibility to register a business remotely in Norway (YES/NO) |
Yes, electronic registration is available and can be completed with the help of our agents. |
| Personal income tax |
22%, additional taxes apply for income exceeding NOK 217,400. |
| Restrictions on foreign investments (if any) |
Sectors like exploitation of natural resources, postal services, railway are subject to concession agreements. |
| Why open a business in Norway? |
– strong business climate, – economic stability, – access to technological advancements, – skilled workforce. |
Table of Contents
Annual administration costs for a business in Norway
After you decide to open a Norwegian company as a foreigner, it is just as important to prepare for the compliance requirements you must meet. From this point of view, the costs associated with doing business here are:
- business licensing costs, which depend on the type of permit required and whether it is a one-time or renewable fee;
- reporting requirements, which imply filing tax returns and financial accounts prepared by a Norwegian accountant and which can cost up to EUR 1,000 per year, depending on the complexity of the formalities involved;
- legal address maintenance costs, which depend on whether you opt for renting a commercial space (in this case, you need to consider the rental price, which starts at around EUR 150 per sqm per year);
- you can also decide on a virtual office whose price starts at around EUR 70 per month and can surpass EUR 160, depending on the associated facilities and the city your business operates in.
Please note that these costs do not include legal or consultancy fees.
Apart from them, you should also consider labor costs, among which:
- employee salaries – the median salary in Norway is EUR 4,300, while the medium one can reach EUR 5,500 without taxes;
- social security contributions, which for employers can reach 14% of the gross salary of an employee;
- payroll taxes.
If you decide to open a business in Norway as a foreigner, our local specialists can guide you on how to minimize various costs.
Here is also an infographic on this subject:
Is it difficult to run a business in Norway?
Just like other countries, Norway also has its pros and cons when it comes to running a business. While there are some bureaucratic hurdles to pass because of the 3-tier administrative system, most actions with the authorities are completed online which allows for low waiting times and clear procedures, which leads us to the pros of having a company here:
- all authorities offer clear instructions and steps to follow directly on their websites;
- for most administrative procedures, there are simple online forms that can be completed and filed directly;
- issuing time frames for business licenses and other authorizations are low (3 weeks on average), unless specific due diligence is required.
From a social point of view, the most challenging aspect is the labor force. This is one of Norway’s strengths, as:
- it has one of the highest employment rates in Europe – 69.7%, at the level of June 2025;
- each employee has a gross domestic product 122.3% higher compared to that of all other EU countries;
- compared to other states, Norway relies most on national workers who are well prepared.
Our company formation consultants in Norway can offer more information on the business and labor environment here.
We also have a video on this subject below:
The best performing industries in Norway
If you want to open a business in Norway as a foreigner, some of the sectors you can choose from are:
- oil and gas, which is also one of the most developed;
- maritime, with a focus on seafood production;
- green energy with hydropower being the representative branch;
- aerospace.
These are also the sectors that benefit from various incentives from the government, among which are research and development tax deductions of 19% on costs incurred by such activities.
If you want to open a business and need support, do not hesitate to contact our company registration consultants in Norway.