Unlocking the Potential of NUF: Is It the Right Choice for Your Enterprise in 2024?

1. What is NUF?

2. Key Advantages of NUF:

• Simplicity: NUF offers a streamlined registration process compared to other business forms.
• Limited Liability: Business owners enjoy limited liability protection. This being said, it is dependant on the registration form of the mother company in the country of origin. 
• Access to Norwegian Market: NUF allows access to Norway's lucrative consumer base. 

REMEMBER

NUF is not a legal person in Norway. If you wish to opt for a more rooted form of registration, look at our information on Limited Liability Company in Norway (Aksjeselskap)

3. Registration Process for foreign companies in Norway:

• Gather necessary documents. Bear in mind registration in Norway may be necessary via traditional post and therefore take more time.
• Register with the Norwegian Register of Business Enterprises (brreg.no).
• Receive a Norwegian tax identification number (organisasjonsnummer).

4. Norwegian Internal Tax Law and Agreement on Avoidance of Double Taxation

• NUFs are subject to Norwegian tax laws.
• Understand tax obligations and benefits.
• Most countries have signed Agreements on Avoidance of Double Taxation with Norway. Check which stipulations are relevant for your company. 

5. Is NUF Right for You?

• NUF is particularly suitable for small to medium-sized foreign businesses.
• Your employees are required to be registered in Norway. They will be posted from thei country of origin. Read more on employers' obligations in Norway.
• NUF is perfect for foreign entrepreneurs who are starting their business in Norway.

6. Seek Expert Guidance of Authorized Accountant:

• Consulting with a local expert or legal advisor is advisable.
• They can help navigate complex regulations and ensure compliance.

7. Conclusion:

• NUF offers an appealing entry point into Norway's thriving business ecosystem for foreign entrepreneurs. However, it's essential to evaluate your specific business needs and objectives before making a decision. Use the opportunity to talk to our customer needs analysts. We have operated on the Norwegian market for more than 20 years, assisting our foreign clients with registration of their Norwegian branches and conducting their business activity in Norway.