When an international company establishes a business in Norway, registering the company is only one part of the process. For the business to actually become operational, a number of practical matters also need to be addressed.
Acconor helps international companies put these elements in place and establish a well-functioning Norwegian operation – from banking and payment solutions to insurance, digital systems and other practical establishment matters.
Norwegian bank account
A Norwegian banking relationship may be relevant for companies that are going to have an established business presence in Norway.
We help assess the need for a Norwegian bank account and assist with the practical aspects of setting it up.
Banks will typically require information about, among other things:
- The company’s activities in Norway
- Owners and beneficial owners
- Management and organisational structure
- Expected transactions
- Customers and suppliers
- The purpose of establishing a presence in Norway
For international companies, the process can be more extensive than expected. It is therefore advisable to consider banking requirements as part of the establishment process from the outset.
Payment solutions
Depending on the nature of the business, there may also be a need for Norwegian payment solutions.
This may include:
- Card payment solutions
- Payment solutions for e-commerce
- Invoicing in NOK
- Norwegian payment accounts
- Integration between banking, accounting and other financial systems
We help assess which solutions are appropriate for the company’s activities in Norway.
Insurance
Establishing a business in Norway may also involve a need for local insurance solutions.
Depending on the business, it may be relevant to consider:
- Business liability insurance
- Employer-related insurance
- Insurance for premises and equipment
- Vehicle insurance
- Project and construction insurance
The insurance requirements and relevant coverage depend on the company’s industry and activities.
Digital solutions and public services
A company operating in Norway needs to be able to communicate and interact digitally with Norwegian authorities and other relevant parties.
This may include:
- Digital government services
- Access to relevant public portals
- Electronic communication with authorities
- Digital powers of attorney
- Electronic signing and document management
- Integration between the company’s Norwegian and international systems
We help create an overview of the access rights and systems the company needs to operate efficiently in Norway.
Practical start-up of the Norwegian operation
There are many smaller, but important, practical matters that need to be addressed before a company is ready to operate in Norway.
These may include:
- Norwegian telephone number
- Office and IT solutions
- Mail handling
- Supplier agreements
- Premises and equipment
- Accounting and payroll systems
- Practical procedures for the Norwegian organisation
We can help coordinate the different elements so that the establishment becomes a coherent and structured process rather than a series of separate tasks.
One point of contact for your practical establishment
For an international company, finding the right solutions and suppliers in a new market can be time-consuming.
Acconor acts as a practical partner and helps put the necessary arrangements in place. Where relevant, we also coordinate with the company’s existing advisers and suppliers.
The goal is not simply for your company to be registered in Norway, but to be genuinely ready to operate.
Need help establishing your business in Norway?
Acconor helps international companies with both the regulatory and practical aspects of establishing a business in Norway.
Contact us for a no-obligation assessment of what needs to be in place to get your Norwegian operation up and running.