How do I set up an AS company in Norway?
Setting up a Norwegian AS requires NOK 30,000 minimum share capital, registration via Altinn.no to Brønnøysundregistrene (BRREG), and a registration fee of NOK 5,100 (online). The process typically takes 1–3 business days. You need at least one shareholder and a board member — both can be the same person.
Detailed Explanation
A Norwegian AS (Aksjeselskap) is the standard private limited company structure. Forming one in Norway is relatively straightforward compared to many European countries, and can be done entirely online via Altinn.no.
Step 1: Prepare the foundation documents
Before registering, you need: - Company name: check availability at brreg.no/foretaksregisteret. The name must end in 'AS' and not conflict with existing registered names. - Articles of association (vedtekter): must include company name, registered municipality, business activity description, share capital amount, and rules on share transfer restrictions. Template vedtekter are available via Altinn. - Share capital decision: minimum NOK 30,000. Can be contributed in cash or in-kind assets (apportinnskudd), but in-kind contributions require a valuation report. - Board decision: even for a one-person company, a formal board resolution is required to approve formation.
Step 2: Open a formation bank account
The share capital (minimum NOK 30,000) must be deposited in a designated formation bank account (stiftelseskonto) before or during registration. Banks in Norway (DNB, Nordea, Handelsbanken, Bulder Bank, Sparebanken Vest) offer stiftelseskontoer. The bank issues a confirmation letter (stadfestelsesattest) confirming the capital has been received.
After registration, the formation account is converted to a regular company account.
Step 3: Register via Altinn
Log in to altinn.no with your personal BankID. Navigate to 'Ny i Altinn' → 'Start en bedrift' or search for 'Samordnet registermelding'. Complete the registration form:
- Company name and registered municipality
- Business activity (næringskode — NACE code): select the primary activity. This affects arbeidsgiveravgift zone and some sector regulations.
- Share capital and class of shares
- Shareholder names, identity numbers, and share allocations
- Board member(s) name(s) and personal identity numbers
- Signature authority rules (prokura, signaturrett)
- Whether the company wants to register for MVA simultaneously (if expected turnover exceeds NOK 50,000 within 12 months)
- Whether the company wants to register as an employer (if hiring staff immediately)
Attach the vedtekter, stiftelsesattest from the bank, and confirmation of board formation decision.
Step 4: Pay the registration fee
Registration fee: NOK 5,100 (online via Altinn); NOK 6,797 (paper filing). Payment via card or Vipps during the Altinn process. The fee goes to Brønnøysundregistrene.
Step 5: Registration processed
BRREG processes registrations within 1–3 business days. You receive: - An Organisasjonsnummer (9-digit number, e.g. 123 456 789) — use this on all invoices, contracts, and tax filings - Confirmation that the company appears in Foretaksregisteret
After formation: immediate obligations
- Bank account
convert the formation account to a regular business account or open a new business current account. - **Aksjebok**: set up the shareholder register (can be maintained in Altinn). - **MVA registration**: if not already done, register when approaching the NOK 50,000 threshold. - **OTP tjenestepensjon**: if hiring employees, establish a workplace pension scheme within one month of the first qualifying employee starting. - **A-melding**: start monthly payroll reporting from the first month wages are paid. - **Regnskapsfører**: decide whether to maintain accounts in-house or use a registered regnskapsfører (accountant/bookkeeper). A qualified regnskapsfører can file accounting and tax returns on the company's behalf.
Statutory audit requirement
Not all AS companies require a statutory audit (revisor). Audit is NOT required if the company meets at least two of three criteria: balance sheet total below NOK 23m, revenue below NOK 6m, fewer than 10 full-time employees. Most small AS do not need a statutory auditor.
Typical timeline and costs
- Registration process: 1–3 business days after all documents submitted
- Registration fee: NOK 5,100
- Share capital: minimum NOK 30,000 (this is your capital, not a fee — it stays in the company)
- Regnskapsfører: NOK 1,500–5,000/month depending on complexity
- OTP pension setup: NOK 0–500 setup fee with most providers
Source: https://www.brreg.no/lag-og-drive-foretak/registrere/akseselskap-as/
Real-World Examples
Solo founder forming a consultancy AS
Magnus is a management consultant. He registers Magnus Consulting AS via Altinn: deposits NOK 30,000 in a stiftelseskonto at DNB, uploads his vedtekter (using the Altinn template), pays NOK 5,100 registration fee. Within 2 days, BRREG issues Organisasjonsnummer 987 654 321. He registers for MVA simultaneously (expects to exceed NOK 50,000 within the first month of trading). Total setup cost: NOK 35,100 (NOK 5,100 fee + NOK 30,000 share capital retained in company).
Transferring from ENK to AS at higher profit levels
Solveig has been running a graphic design ENK with NOK 600,000 annual profit and is paying approximately 38% total personal tax. She forms Solveig Design AS, transfers her client relationships, and begins drawing a NOK 350,000 salary from the AS. Remaining profit retained in AS at 22% corporate tax — annual tax saving approximately NOK 60,000–90,000 on retained earnings.
Common Mistakes to Avoid
- Choosing too restrictive a business activity description (næringskode) — if the company later diversifies, it may need to re-register the activity, or risk using an incorrect arbeidsgiveravgift zone rate.
- Not setting up OTP pension within one month of hiring the first employee — this is a criminal obligation under OTP-loven.
- Failing to maintain the aksjebok from day one — share transactions and changes must be recorded contemporaneously.
- Not registering for MVA at the time of formation when expecting to exceed NOK 50,000 quickly — back registration and retroactive MVA assessment creates cash flow problems.
Frequently Asked Questions
Can a foreign national form a Norwegian AS?
Yes, foreign nationals can be shareholders and directors of a Norwegian AS. The director does not need to reside in Norway but must have a valid Norwegian D-number (foreign personal number) for the Altinn registration. The company must have a registered address in Norway.
What is the difference between an AS and an ASA?
An ASA (Allmennaksjeselskap) is a public limited company, equivalent to a UK Plc. It requires NOK 1,000,000 minimum share capital, must have a minimum of 3 board members, is subject to more disclosure obligations, and can have its shares listed on a stock exchange. Almost all small businesses use an AS.
Is a registered accountant (regnskapsfører) mandatory for a Norwegian AS?
No, a registered regnskapsfører is not legally required for an AS. The company can maintain its own books. However, using a regnskapsfører provides the benefit of the extended 31 August corporate tax return deadline (vs 31 May standard) and helps ensure correct A-melding, MVA, and RF-1167 filings.
How long does it take to open a business bank account?
Digital-only banks (Bulder Bank, Kron) typically open business accounts in 1–3 days online. Traditional banks (DNB, Nordea) may take 1–2 weeks and require a physical meeting for new customers. You need the Organisasjonsnummer before opening a regular business account.
Can I run multiple businesses through one AS?
Yes, one AS can conduct multiple business activities. However, for liability separation, brand clarity, or investor structuring, some founders prefer separate AS per business with a holding AS above them. There is no tax cost to multiple activities in one AS.
Practical Tips
- Use the Altinn company formation wizard — it walks through vedtekter creation and all required fields. Most solo founders complete the entire process in under 2 hours.
- Deposit NOK 50,000 as share capital rather than the minimum NOK 30,000 — the extra NOK 20,000 of flexibility provides working capital and shows seriousness to banking partners.
- Register for MVA at formation if you expect to exceed NOK 50,000 quickly — this allows immediate input MVA recovery on all setup costs.
- Get a separate business bank account at a bank offering good Altinn integration (DNB, Handelsbanken, Sparebanken) to streamline A-melding and MVA payment workflows.
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