Purpose

It has been decided to enter the Norwegian market – the strategy is carried out.
All planned activities are brought to life in close collaboration with the customer.
This phase varies from company to company depending on the method of establishment, e.g. through partnership, agency, own company or branch of foreign company.
Scanvisio offers the following services:

• Representing the customer in Norway
• Implementation of a market strategy
• Assistance with finding partners and/or agents
• Advice and assistance in regards to establishing the company
• Assistance with finding suitable premises
• Assistance with manager recruitment and the recruitment of local employees
• Accounting services
• Legal council
• Translation
• Marketing
• Visual communication

We have extensive experience with Norwegian conditions and the Norwegian market, and we can aid you in most matters.

When a foreing company is to be established in Norway, it is crucial to choose the right type of business entity for your company.
The choice is usually between an LLC or NUF.

• A limited liability company is abbreviated to AS in Norwegian (Aksjeselskap).
• NUF is the Norwegian abbreviation for “Norwegian-registrered foreign company”.

Other Norwegian business entities can also be relevant, though rarely.

The difference between AS and NUF

Scanvisio AS makes entry and establishment in the Norwegian market easy and affordable.

Our facilities are located 7,5 km from Oslo’s municipal border, with an approximate 20 minute drive to the city center.
The amenities are well suited for showrooms for the B2B segment, e.g. building materials, furniture, interior, office furnishing, electronics etc.
The main building and the communal spaces were built in the 80’s, they are well taken care of and regularly maintained.
The office spaces have been renovated multiple times, most recently with a new tea kitchen.

Info:

• Elevator
• Ventilation
• Parking space
• White walls
• Glass panes out toward hallway and communal spaces
• Floors are in light linoleum and hardwood.
• Integrated lighting
• Possibility of fiber network
• Direct bus connections into Oslo city center
• 45 minute drive to Oslo airport

You can easily run a company in Norway without being physically present.
We offer virtual offices to multiple companies, where we handle the daily mail (letter mail is scanned) and accept other inquiries.
Other tasks are solved outside Norway.

Establishment of a Norwegian company with cash deposits and non-Norwegian owners/ participants in a legal entity.

We assist and advise you throughout the entire process.
Before contacting us we recommend that you to think about:

• How large should the share capital be? -The minimum requirement in Norway is NOK 30 000,- (~ EUR 2606). The share capital should be proportional to the scope and type of activity you intend to carry out.
• Who will be named as founder(s)? – Can be both company(ies) or person(s) – or a combination of the two.
  It can be a good idea to get the input from an auditor in your home country about the placement in the company/group structure.
• Who should sit on the board? – At least one person (chairman of the board).
  A danish citizen can be on the board alone.
  Special requirements may apply for nationals of other countries. We can assist you with this clarification.
• Who will be in charge of the day-to-day management? – It is not a requirement, however it is recommended that a director (general manager) is appointed. This can be a board member or the chairman of the board.
• Where will the company have its registered office and address? – The company is required to have a Norwegian business address. We offer a virtual office with mounted nameplates, for companies. This solution is recommended if you want a subsidiary without its own physical presence in Norway, have employees in Norway with a home office, are being established or want an address in a business area.
• What is the purpose of the company? – Be as specific as possible. We assist you with the Norwegian translation.

It will also be an advantage if you have an opinion about:

• The size and number of shares – We can advise you regarding this.
• Desired start date – You can primarily choose freely. However, no documents submitted for registration must be dated older than 3 months.
• Warrant right – We will happily advise you on this.
• Opt-out of revision – Most opt-out of auditing in the startup phase.
• Does the company need employees? -If yes, an official business number must be acquired from the Brønnøysund register center.

The establishment process – 5 phases

The establishment of a company takes place in interaction between founders, advisors, bank and authorities.
Following is an outline of what needs to be done, by whom and when

1. Company documents.

After the content of the memorandum of association and the articles of association are clarified, Scanvisio prepares a complete set of documents with all the company documents included. These documents include memorandum of association and articles of association, in addition to protocols from the first board meeting, share register and organizational chart. The latter is not a regulatory requirement, but is usually necessary in regards to establishment of a bank account in the company’s name.
At a fixed price, Scanvisio will prepare up to 2 revisions of the company documents.

3. Assembly and quality check of documents

The customer sends the documents to Scanvisio -preferably all the documents at once.
The documents we require are:

1. Signed memorandum of association and any attachments (copy – the company keeps the original)
2. Signed board minutes (copy – the company keeps the original)
3. Signed registration form (original)
4. Bank confirmation of paid share capital(original)
5. If applicable, signed D-number application (original)
6. If applicable, notarized identity information (original)

Our address is:

Scanvisio AS
Andersrudveien 1,
N-1914 Ytre Enebakk
NORWAY

After a brief quality check the documents are sent for processing at the Norwegian authorities.

4. Processing and registration

The government processing time varies from case to case, and can be rather long at times – especially in holiday periods.
It is not uncommon that the assigned caseworker requests additional information or elaboration, e.g. in regard to the company’s location in relation to SIC codes, historical connection to Norway and other doubts.
Scanvisio handles the communication in this phase.

5. The company is established

The pieces have fallen into place, and the company now receives a Norwegian organization number. This concludes the work that is covered by our fixed price. The customer can now contact the bank and have their bank account opened for transactions from the company account.

Legal participants who have applied for a D-number will receive a confirmation letter from the government sent to their private address. Passwords can be ordered at altinn.no.

How about a fully registered Norwegian shelf company?

Using a shelf company as a starting point is not recommended for several reasons.
However, in a situation where it is necessary to acquire a Norwegian org number immediately, this solution can be justified as an emergency measure.

Norwegian banks do not want customers through the back door in fear of money laundering. Hence we offer, through partnerships, new, fully registered companies that do not have an existing relationship with the bank.
The bank relationship is established after the share transfer has been confirmed.
However, it is in the bank’s discretion to approve or reject new customers.
The availability of this service varies.

The shelf company solution provides the company with a Norwegian org.nr almost immediately, but it is also significantly more expensive and administratively demanding to implement.
Other possible disadvantages are that the company’s historical and temporary name will appear in various registers and company databases that exist in Norway. In addition to that the original founder will appear as the sole shareholder.
History has shown that customers and suppliers have reacted negatively to these conditions.

Feel free to contact us if you wish to establish a Norwegian limited company.