Norway is a safe and easy country for doing business. The two most common types of businesses are “enkeltpersonforetak” and “aksjeselskap”.
Which business setup?
An enkeltpersonforetak is also known in Norwegian as ENK. It is typically used by a self-employed person or where one is trading as a sole proprietorship. In this business type, a physical person is financially responsible for all the business’s liabilities and obligations. The main advantage of this business type is that there is a lower administrative burden to set it up this structure along with maintaining it.
An aksjeselskap is also known in Norwegian as AS. This business type is a publicly limited company, in which none of the owners (or shareholders) have any personal liability for the business’s liabilities. In other words, the business is a separate independent legal entity. Anyone in the world can set up this type of business in Norway, however there are different setup and ongoing requirements for a Norwegian resident or citizen compared with that of foreign resident.