Norway Geography, Politics, Economy, and History

Part of the Scandinavian peninsula, Norway is a Northern European country bordered to its east by Sweden. While it has a constitutional monarchy, political power resides with its prime minister and Parliament. It is a member of the European Economic Area and maintains close ties to the European Union. Norway maintains the Nordic welfare system of universal social security, healthcare, and education while promoting ideals of egalitarianism in all walks of life.

The Norwegian economy is significantly advanced with its petroleum industry accounting for a quarter of its GDP. On a per-capita basis, Norway is the largest producer of oil and natural gas outside of the Middle East. Norway also has consistently ranked amongst the world’s happiest countries with the highest human development index, with one of the highest per capita incomes in the world.

Its history is primarily known for its Viking Age, a period characterized by expansion and emigration by the legendary seafarers. Not only did they colonize many parts of Europe, but they were also known to have come as far west as what is now Newfoundland in Canada.

2021
April 1Maundy Thursday
April 2Good Friday
April 4Easter Sunday
April 5Easter Monday
May 1Labor day
May 13Ascension Day
May 1717 May Constitution Day (1814)
May 23Whit Sunday
May 24Whit Monday
December 25Christmas Day
December 26Boxing Day
  • ASA (Allmennaksjeselskap)
  • AS (Aksjeselskap)
  • ANS (Ansvarlig selskap)
  • BA (Selskap med begrenset ansvar)
  • BL (Borettslag)
  • DA (Selskap med delt ansvar)
  • Enkeltpersonforetak
  • Etat
  • FKF (Fylkeskommunalt foretak)
  • HF (helseforetak)
  • IKS (Interkommunalt selskap)
  • KF (Kommunalt foretak)
  • KS (Kommandittselskap)
  • NUF (Norskregistrert utenlandsk foretak)
  • RHF (regionalt helseforetak)
  • SF (Statsforetak)
  • Sparebank
  • Stiftelse
  • UB (Ungdomsbedrift)
  • Corporate Tax: 23%
  • Income Tax (Lowest Marginal Rate): 0%
  • Income Tax (Highest Marginal Rate): 23% + 8.2% social security + top tax (from 1.4% to 15.4%) minus deductions
  • VAT/GST/Sales Tax: 25% (standard rate), 15% (food and drink in shops), 10% (transportation, cinema and hotel services)
  • Bank2 (Commercial Bank)
  • Bank Norwegian AS (Commercial Bank)
  • Bolig- og Næringsbanken (Commercial Bank)
  • Cresco (Commercial Bank)
  • DnB NOR Bank (Commercial Bank)
  • Landkreditt Bank (Commercial Bank)
  • Netfonds Bank (Commercial Bank)
  • Nordea Bank Norge (Commercial Bank)
  • Nordlandsbanken (Commercial Bank)
  • Santander Consumer Bank (Commercial Bank)
  • Sbanken (Commercial Bank)
  • Pareto Bank (Commercial Bank)
  • SEB Privatbanken (Commercial Bank)
  • Storebrand Bank (Commercial Bank)
  • Verdibanken (Commercial Bank)
  • Voss Veksel- og Landmandsbank (Commercial Bank)
  • yA Bank (Commercial Bank)
  • Aktiv Kapital (Foreign Bank)
  • BMW Financial Services (Foreign Bank)
  • BNP Paribas (Foreign Bank)
  • Carnegie Investment Bank (Foreign Bank)
  • Citibank (Foreign Bank)
  • Danske Bank (Foreign Bank)
  • De Lage Landen (Foreign Bank)
  • DVB Bank (Foreign Bank)
  • Ford Financial (Foreign Bank)
  • Forex Bank (Foreign Bank)
  • Fortis (Foreign Bank)
  • GE Money Bank (Foreign Bank)
  • GMAC Bank (Foreign Bank)
  • Handelsbanken (Foreign Bank)
  • IBM Credit (Foreign Bank)
  • Nordnet (Foreign Bank)
  • Scania Finans (Foreign Bank)
  • Siemens Financial Services (Foreign Bank)
  • Skandinaviska Enskilda Banken (Foreign Bank)
  • SVEA Finans (Foreign Bank)
  • Swedbank (Foreign Bank)
  • Toyota Kreditbank (Foreign Bank)

Aadmi can support you with your expansion to Norway. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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