Establishing a company in Norway
Norway is situated in Northern Europe, on the western portion of the Scandinavian Peninsula. Geographically, it is a long and narrow country bordering on its west with the Norwegian Sea and Atlantic Ocean, to its east with Sweden, and to its north it shares borders with Finland and Russia. It has a population of 5.15 million, and its capital is Oslo, located in the country’s more southern area. Norway is a Nordic-Scandinavian country, extremely developed and successful, a leader in international economic and social ranking indices. Its citizens elected to not become a member of the EU, its economic strength contributing greatly to this decision. However, Norway is a member of the EFTA (European Free Trade Association), a fact that proves advantageous for entrepreneurs who maintain business contacts with various European countries and wish to establish a company in Norway.
Norway has two official languages: Bokmål, which serves as a means of communication, and the Norse dialect of Nynorsk. Like other Scandinavian countries, Norway citizens also speak fluent English and it serves as an accepted third language. However commonly spoken, English is not accepted for company incorporation, and all relevant documents must be submitted in the Norwegian language. Norway is considered a global leader in the institution of democracy, the quality of life for its citizens, per capita income, and welfare conditions – primarily thanks to the huge economic growth made possible by discovering large natural gas and oil deposits in its national territories.