Formation of a limited company – we provide assistance

Establishing a New Limited Liability Company (AS)

A limited liability company (Aksjeselskap) is a corporate structure where none of the owners carry personal liability for the company's obligations. The owners' liability is generally limited to their share capital investment. A limited company is an independent legal entity with its own organization number. In contrast to, for example, a sole proprietorship, there is a very clear distinction between the company's finances and the owners' personal finances. Due to this separation, there are various regulations regarding what owners can withdraw from the company.

The rules surrounding limited companies are governed by the provisions of the Norwegian Private Limited Liability Companies Act (Aksjeloven). Both individuals and other legal entities can own shares in a limited company.

A limited company can be formed through cash contributions or contributions in kind. (Contributions in kind mean that the share capital consists of assets other than money, such as equipment or vehicles.) Regardless of the method, the starting capital must be at least NOK 30,000. Costs associated with the formation of the company can be covered by the share capital contribution.

A limited company must have a board of directors. It is sufficient for the board to consist of one person. In addition to a board, the company must have either a general manager or a designated contact person.

We can assist you with the registration of a new company and provide guidance regarding the process.

The Importance of Accurate and Reliable Accounting

Operating a company, regardless of its legal form, requires a clear overview of the business's finances. Several factors should be in place to achieve this insight. A crucial element is having access to updated and correct financial records. There is nothing preventing you from managing the company's accounts yourself.