A Norwegian branch of a foreign company or NUF is as much responsible for paying taxes to the Norwegian government as are all the other traditional companies established in Norway. If you do not wish to hire any employees for your NUF selskap and do not have a managing director either, you may appoint a representative to carry out necessary operations. The representative is responsible for keeping record of the company accounts and then submitting the same along with the records of the parent company to the Brønnøysund Register Center at the end of each financial year. You can consult a company formation agency such as Panlegis for help.
Although there is no share capital requirement for establishing a Norwegian branch or NUF in Norway, unlike the NOK 100,000 required to form a traditional AS, the NUF selskap is liable to pay tax to the Norwegian government like the rest. To do so, you are required to hire a managing director, representative or auditor who will be responsible for maintaining the company accounts. If you use the services of a company formation agency like Panlegis to register your branch, you do not have to worry about appointing a managing director, as they will provide for one, as part of their services.
There is however no tax applied on dividends and profits from shares in the NUF selskap. Also if your NUF has a turnover of less than 5 million, you are exempted from filing for tax, in which case you will not need to hire an auditor for preparing your accounts for tax. You will however have to maintain a record of your accounts all the same and submit it to the Register of Company Account.
Although there is no share capital requirement for establishing a Norwegian branch or NUF in Norway, unlike the NOK 100,000 required to form a traditional AS, the NUF selskap is liable to pay tax to the Norwegian government like the rest. To do so, you are required to hire a managing director, representative or auditor who will be responsible for maintaining the company accounts. If you use the services of a company formation agency like Panlegis to register your branch, you do not have to worry about appointing a managing director, as they will provide for one, as part of their services.
There is however no tax applied on dividends and profits from shares in the NUF selskap. Also if your NUF has a turnover of less than 5 million, you are exempted from filing for tax, in which case you will not need to hire an auditor for preparing your accounts for tax. You will however have to maintain a record of your accounts all the same and submit it to the Register of Company Account.
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