norway: a brief country profile by start global
TRANSCRIPT
2015
Norway
Brief country overview
Prepared by Start Global
Start Global — opportunities abound 2 2
№9
Ease of doing
business
(1-189) 2014*
Inflation 2014
2%
LLC incorporation
Norway
Norway has a healthy economy and substantial accumulated wealth
*An index created by the World Bank Group. Higher rankings (a low numerical value) indicate better, usually simpler, regulations for businesses and stronger protections of property rights. Data in Doing Business 2014 are current as of June 1, 2013
**Includes reserving the company name, drafting and notarizing official company documents (Articles of Association, Statutes), submission of company documents to the Register of Business Enterprises, registering your company with the tax authority,
notary fees, ID-number applications (obtaining such number is mandatory for the registration of the entity, legal fees, state fees, registered office for 1 year in Oslo, bank account introduction
Sources: IMF, CIA, trademap.org, oanda.com, World Bank Group, www.uhy.com
Average growth
rate of real GDP
until 2020
1.7%
GDP 2014, USD
500bln
The basic business style is relatively
informal
Minimum requirements for female board
members of LLC - 33% for boards with 3
members, 50% - 2, 4, 6 members, 40% or
more – 5,6,7,9 or more members
It is often difficult to schedule meetings
during July and August, which are popular
vacation times; during the two weeks before
and after Christmas; and during the week
before and after Easter
Business culture
features
Paid in minimum
capital requirement USD 4 776
Required share of
capital USD 159 210
Time from 3 weeks
LLC Incorporation
service from USD 5 970**
Start Global — opportunities abound 3
*Includes the manufacture of transportation equipment such as ship building and boat manufacturing, the manufacture of railroad rolling stock and locomotives, air and spacecraft and the manufacture of parts thereof
**Includes the manufacture of fixed and mobile or hand-held devices, regardless of whether they are designed for industrial, building and civil engineering, agricultural or home use
Source: Eurostat
The mining and quarrying is the most developed industry in Norway
Production value in the most developed industries in bln USD 2014 and CAGR (2010-2014), %
198 bln USD
Mining and
quarrying
3.3%
19.2 bln USD
Electric-power
industry
-4.8%
Other transport
equipment
manufacturing*
15.6 bln USD
8.3%
14.1 bln USD
Machinery and
equipment
industry**
9.6%
Food
industry
26 bln USD
4.7%
Norway
COUNTRIES
20+
CLIENTS
40+
INDUSTRIES
20+
CUMULATIVE
YEARS OF
EXPERIENCE
25+
Coverage of Start Global
Start Global will help you to enter new markets and
to arrange long-term sales partnerships
GET YOUR INTERNATIONAL ADVISER BY:
e-mail: [email protected]
tel: +38 (044) 225 04 40
www.start-global.biz