Norway is a country that is extremely popular among both tourists and businessmen. It is a country with a rich history, beautiful nature and a stable, growing economy. However, running a company in Norway requires entrepreneurs to have some knowledge of management and law, so it is worth learning not only the basics, but also ways to facilitate business processes.
Registering a company in Norway
Establishing a company in Norway requires an entrepreneur to complete several steps, including, first and foremost, declaring the business by filling out the BR1010 form, which can be found at brreg.no. The form asks for the owner’s details, business name, business address and type of business. The company is then given an organizational number. In order to fully establish a company, it is also necessary to specify the type of business and choose the appropriate legal form of the enterprise, find a suitable location and rent or purchase an office, and register as an employer. It is important to familiarize yourself with Norwegian regulations and cultural norms before starting a business, and to seek expert advice.
Keeping your own accounts
In Norway, entrepreneurs are subject to taxation in a number of ways. Below are the most important taxes that entrepreneurs in Norway must pay, along with their amounts:
1. Income tax (inntektsskatt) – tax on income earned from business activities. The amount of income tax for entrepreneurs in Norway currently ranges from 22% to 22.5%, depending on the amount of income.
2. Value-added tax (moms) – a tax on goods and services, applicable throughout the EU. Norway has a standard VAT rate of 25%, as well as reduced rates of 15% and 10%.
Employment of employees
Hiring employees in Norway requires compliance with a number of regulations, which can be very problematic for an entrepreneur. In Norway, it is necessary, among other things, to comply with the minimum hourly wage, allow for breaks, provide health and safety training, and ensure employee health and safety. That’s why it’s a good idea to use an employer of record service, which allows you to hire employees through an agency that takes on most of the employment paperwork.
Running a company in Norway may seem difficult and time-consuming, but by acquiring the right knowledge and using the services of an employer of record or accounting firm like quali.no/employer-of-record-Norway, the entire business process can be made much easier. This allows the entrepreneur to focus on running his business, while avoiding formal errors or difficulties related to paying contributions or VAT.