Do you plan to start a limited company?

One of the most important decisions you need to make when starting up a business is what type of company you should choose. This choice has implications for a number of factors, including risk, costs, the amount of work, security and entitlements.
  1. Memorandum of association and byelaws
    You must set up the articles of association and byelaws. You can do this yourself or get an auditor, accountant or lawyer to help you. The documents are subject to a number of formal requirements. For an example of a memorandum of association, please see Tools and Forms.

  2. Opening balance sheet
    The opening balance sheet is a specification of assets as well as shareholder's equity and other liabilities as per the founding date. The opening balance sheet must be confirmed by an auditor in a separate document if share capital is to be paid in by means of something other than money, the company is to be party to a contract, or someone is to be given certain special rights. If the share capital will only consist of cash, you do not need confirmation from an auditor.

  3. Open a bank account
    The next thing you need to do is to open a bank account into which share capital can be paid. You need to get yourself registered as a new commercial customer and will have to present your memorandum of association and byelaws in that connection.

  4. What the bank will do
    The bank will open an account into which the company's share capital, minimum NOK 30 000, will be paid. The account will be blocked until the company has been registered in the Brønnøysund Register Centre and given an enterprise number, and the account, card and Internet banking agreements have been signed and returned to the bank.

  5. Confirmation of paid-in share capital
    Inform DNB when the share capital has been deposited in the account. Your adviser in the bank can then give you a document confirming that the share capital has been paid in, and/or confirm this electronically via www.altinn.no (if you are handling the registration yourself).

  6. Registration on Altinn.no
    If you register your company electronically through altinn.no ("Samordnet registermelding" - coordinated notice of registration - available in Norwegian only ), all the documents should be submitted there, too. This applies to: the memorandum of association, byelaws, opening balance sheet (see item 2), confirmation of the paid-in share capital and, if applicable, an excerpt from the minutes of the board meeting  in which it was resolved that annual accounts will not be audited.

  7. Confirmation from a financial institution or auditor
    On altinn.no you will be instructed to upload the confirmation from a financial institution or auditor, and thereafter enter the enterprise number of the legal person who will sign the confirmation digitally. In this case, you should enter DNB Bank ASA's enterprise number:
    984 851 006.

  8. The Brønnøysund Register Centre/Altinn.no
    Contact the Brønnøysund Register Centre if you need help registering your company via altinn.no or are not sure whether your have submitted all the right documents.

  9. Process in the Brønnøysund Register Centre
    After all the required documents have been delivered to the Brønnøysund Register Centre as hard copies or via www.altinn.no, and found to be in good order, it normally takes from two to five days till the company is registered and has an enterprise number.

  10. The company is registered
    When you receive the enterprise number from the Brønnøysund Register Centre and it is searchable through www.brreg.no you need to send a copy of the company registration certificate and an updated shareholder register to your adviser in DNB. Bank accounts, cards and the Internet banking service can then be placed at your disposal.  There are a number of free products you can download from Altinn, such as a company registration certificate,  that make it easy to send documentation to the bank and other business associates.

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