The Government has submitted a White Paper prosing to reduce the requirement of minimum share capital in limited companies from NOK 100,000 to 30,000 (approximately USD 5,300).
The proposal is expected to be enacted shortly and aims at making it more attractive for entrepreneurs in Norway to start their businesses through a Norwegian registered limited company rather than through a Norwegian branch of a foreign entity.
Earlier this year Parliament enacted an amendment eliminating on certain terms the requirement for smaller limited liability companies to engage an auditor. It is expected that this amendment together with the reduced requirement of share capital will result in a considerable increase of registration of limited companies in Norway.
