Starting a Business in Norway
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Why Start A Business In Norway?
Glaciers retreated and sea waters flooded; thus, Norway's topographical headliner was born. The fjords: one of nature's finest pieces of art. Norway is one of the great unspoilt destinations of the world. During its union with Denmark, Copenhagen functioned as the capital of Norway, so not only the written language, but also Norwegian culture became strongly influenced by Denmark. The Norwegians have strived to individualise and refine themselves, and business is no exception to this.
Norway has a strong and stable economy. Foreign capital, knowledge and technology have always played a significant part in Norway's trade and industries. International relationships have had an important impact upon Norway's growth and development in the context of an ever-increasing global economy. Norway is not a member of the EU but despite this, both Norwegian and foreign-owned companies have unrestricted access to the EU market, through the European Economic Area (EEA) agreement.
Businesses are easy to establish and costs are low, which appeals to foreign investors. The public sector is organised as such that running a business in Norway is simple and straightforward. Norway is also a leading shipping nation, and it is one of the world's largest oil exporters. Today it has a competitive world economy, and is one of the global leaders in industries such as aquaculture, maritime industries, hydropower, the environment, energy, technology and telecommunications. According to the Global Enterprise Monitor (GEM), Norway is a global leader in business and the forecasts for the future are very impressive. Can you a-fjord to miss out?
What are the essentials to know?
What's the population?
The population of Norway is 5.02 million
Labour and workforce
If you employ others, or if you are an employee of a joint-stock company which you own, you need to register with your local National Insurance Office. Contact them to obtain registration forms. You are also required to inform the Directorate of Labour Inspection at least a week before you begin trading.
The Registry of Business Enterprises
P.O. Box 1500
Tel: 00 47 75 00 75 00
Fax: 00 47 75 00 75 05
Directorate of Taxes
P.O. Box 6300
Tel: 00 47 22 07 70 00
Fax: 00 47 22 07 71 08
Directorate of Labour Inspection
P.O. Box 8174
Tel: 00 47 22 95 70 00
Fax: 00 47 22 46 62 14
NarviktelefoneneP.O. Box 253 8501 NARVIKTel: 00 47 76 96 72 00Fax: 00 47 76 96 72 01Information line founded by the Ministry of Trade
The official Norwegian Trade Portal, www.nortrade.com is helpful if you want to find a particular company in Norway. You could also contact:
The following address is essential if you need to get in contact with oil and gas companies in Norway:
INTSOK (Norwegian Oil & Gas Partners)
P.O. Box 631, Skyen
Tel: + 47 22 06 14 80
Fax: + 47 22 06 14 90
To find out about trade fairs and exhibitions in Norway, contact:
5th Floor, Charles House
5 Lower Regent Street
Tel: 00 44 (0) 20 7389 8800
Fax: 00 44 (0) 20 7973 0189
For information on Norwegian companies, contact:
The Company Register
P. O. Box 398
Tel: + 47 75 007999
Fax: + 47 75 007950
If you are looking for work in Norway, NAV (the Norwegian Labour & Welfare organisation) is an excellent source. Visit the website or telephone: 0047 800 33 166 (freephone within Norway). They have produced 'A Guide to Living and Working in Norway', which can be found on the website, and this is very useful.
If you are looking to work in the software and system engineering industry, in IT, there is currently a demand for engineers in all industrial and public sectors. Offshore engineering, biotech engineering and manufacturing are all industries which are short of qualified workers. You are eligible to apply if you are from the EU/EEA. You are likely to be able to gain a job in Norway if you are English-speaking but have a good knowledge of Norwegian.
A useful source of Norweigen expat news is http://www.newsinenglish.no.
Organisations that can assist with Starting a Business
Simplified Global Payroll Managing payroll in multiple countries is complicated with different systems, deadlines, and languages in each country, lack of reporting, and constantly changing laws and regulations. Trying to manage global payroll via fax and email with excel spreadsheets leads to data security issues, fines, and penalties for non-compliance. Blue Marble has solved global payroll challenges with cloud-based technology, customized aggregated monthly reporting, and a hybrid service model in 150+ countries around the world.
PEO Worldwide is an international PEO offering employer of record, payroll, employee benefits management, HR and compliance services throughout the world.